"You'll put in €30,000, but you'll end up with about €41,500." Personal finance columnist Sinead Ryan doesn't mince her words when it comes to the potential power of child benefit, if it's saved strategically. On the latest episode of Money Talks, she explains to Katie Byrne why this €140 monthly payment is one of the most misunderstood parts of family finances. For some households, it's essential income.
The advice I'd always been given is that novice investors should never try to play the market, no attempts to buy low/sell high or pick additional stocks, and that seemed very sound, as I have no experience in the field, so I just kept my hands off and assumed that the fund manager was doing whatever needed to be done.
The investment decisions people make are often influenced by cognitive biases that can lead to irrational decisions or behavior contrary to personal financial goals. Cognitive biases, like the status quo bias, showcase a tendency to prefer existing circumstances over change.