Joe Edgeworth
The Edgeworth Insurance Group
Greed and Fear Can Destroy Your Finances
Greed and fear are human emotions, and with them can come human mistakes.Fear: an unpleasant emotion caused by the belief that there is a threat that could harm you.Greed: An intense and selfish desire for something, especially wealth.While these words are, by definition, very different, they relate to each other in the context of building secure wealth. Fear can cause you to be too safe with your money to the point that you never make investments that could bring reasonable returns. Fear can cause you to hide cash in a safe concealed inside a mattress, in other words, in an investment that pays very low interest.Greed could put your money at risk because you shoot for too much. But, on the other hand, greed could alter your judgment and lead to you making ‘pie in the sky’ investments.Of course, greed and fear are natural human emotions/behaviors. They have their place and can provide benefits when considered in certain situations. For example, fear can keep you from psychical danger. And some times being greedy has its own rewards… like grabbing that last piece of cake.However, consider eliminating both greed and fear from your financial decision-making. Let’s replace these emotions and instead attempt to rely on intellect and rationality.More specifically, cognitive intelligence.Cognitive intelligence: Cognitive intelligence is the ability to plan, reason, and use logical deduction to solve problems, but also the capability to apply abstract thinking while learning from and responding to the environment.Examples of cognitive thinking:
- “I probably won’t lose all my money.”
- “I probably won’t make a billion dollars.”
- You probably will have enough money to retire well with the ability to pay all your expenses and still have enough money left over to fund a great lifestyle.

Joe Edgeworth
The Edgeworth Insurance Group
2715 Spring Valley Rd.
Lancaster, Pennsylvania 17601
joe.edgeworth@retirevillage.com
(800) 824-8609


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