Today on the Finance Flash Go! podcast, we are talking about analysis paralysis.
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Analysis paralysis can seriously impede our ability to make progress in our lives. Personally. Professionally. Financially. With friends, family, colleagues. The list goes on and on…
It is also super common. I have never asked one person who hasn’t admitted to suffering from analysis paralysis in one form or another.
And it is hard to resist. Evolutionarily, analysis paralysis makes sense. We are a loss adverse species in which losses hurt a lot more than wins give us pleasure. We are hardwired to scrutinize the decisions we make with an emphasis on not making the wrong one.
Where does analysis paralysis come from?
And that is what the driving force of analysis paralysis is…fear!
How often have you seen someone who is deciding between two good things? It really can be anything.
Maybe it’s something serious like the decision to pay down debt or invest in index funds…both options are great.
The key to overcoming is trusting yourself.
You need to learn to trust yourself. You will know what the right move and decision is. Your heart or gut or soul or whatever you want to call it will be telling you. Meanwhile, your cavewoman brain will still be wrestling to try and protect you.
Like so many things in this world, analysis paralysis is not one of those things that you conquer once and for all.
It’s a constant effort.
But it does get easier. Once your have developed the tools, you become more adept at implementing them when the time arises.
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Finance Flash Go! Episode #44: Understanding Growth vs. Value Stocks
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