Whether in person or online, the average American is bombarded with money traps and sales tactics every day. No age group is immune to manipulative sales traps, but the emotions and desires preyed upon do change according to your age and life circumstances.
A big part of our job as financial advisors is protecting people from making bad behavioral mistakes with their finances. Knowledge is power! In this episode, we’ll equip you with everything you need in order to spot common money traps and protect yourself from accidental financial mistakes.
In this episode you’ll learn:
- How to spot the 3 most common sales tactics (and two honorable mentions)
- What emotions and circumstances are preyed on in your 20s, 30s, 40s, 50s, and 60s
- How multiple sales tactics are layered to make you buy
- What situations to avoid if you’re too easily persuaded
Resources and research from this episode:
- NEW: 8 Questions to Ask Your Financial Advisor (Money Guy)
- U.S. Life Expectancy 1950-2020 (Macro Trends)
- A New Study On Fortune 100 CEOs: The (Surprising) Undergraduate Institutions They Attended (Forbes)
- How Much Does a Wedding Cost? (Nerd Wallet)
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