How Your Instincts Are Actually Hurting You, Your Team, and Your Wealth
Release Date: 05/10/2024
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info_outlineThink you have great instincts? Think again.
Judgments and decision-making are common threads that run through not only your investing, wealth management, and business decisions, but also your quality of life. What impacts these decisions and judgments? Your instincts… (and your counter instincts). Today’s episode is all about how your instincts might be hurting your real-time decisions, your team, your wealth, and even your quality of life—and what you can do about it.
In this Off the Wall chat, host David Armstrong and guest co-host Dean Catino speak with Krishna Pendyala, Founder & Chief Empowerment Officer at The ChoiceLadder Institute, as well as Co-Founder and President of The Mindful Nation Foundation. Krishna is an award-winning speaker, author, entrepreneur, and advisor who helps executives and entrepreneurs exercise better judgment and make wiser choices in business and leadership.
Listen in as Krishna breaks down examples of how our instincts and counter-instincts affect our decisions. He also highlights the easiest way to pause before making decisions and why it’s so critical for executives, leaders, and business owners to pause before every decision. He also shares some great tips for managing impulsive decisions and reactions to fear-based narratives around wealth and finance.
“If you do want to behave differently and not be impulsive, not make hasty decisions, which really end up creating new problems that you end up cleaning up, or in your industry, losing money… that’s where I think counter instincts come in.” – Krishna Pendyala
Tune in to find out how your instincts are impacting your judgment and financial decisions.
Episode Timeline/Key Highlights:
[00:00] Intro
[00:27] Learn about Krishna Pendyala & the topic of today’s episode.
[03:23] How our instincts work and how they impact our decisions.
[06:48] Examples of instincts and counter instincts.
[12:22] Fear and greed are driving the markets.
[16:32] The Power of Pause & The meaning of “Beyond the PIG and the APE”.
[20:35] How do we help clients see how their finances are impacted by their instincts?
[27:10] How to manage impulsive financial decisions.
[36:02] The Power of Loss Aversion: Navigating the emotional impact of loss.
[40:28] The 1 in 60 Rule.
[41:39] Judgment: A common thread in your investing, wealth management, and quality of life.
Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.
Resources Mentioned:
Man’s Search for Meaning by Viktor Frankl: https://amzn.to/3W7kUky
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About Krishna Pendyala:
Krishna Pendyala is the Founder & Chief Empowerment Officer at The Choice Ladder Institute. The Choice Ladder Institute helps entrepreneurs, executives, and financial advisors exercise better judgment and make wise choices to achieve a higher quality of life and not just a better standard of living. Good goal setting and leadership skills enable driven individuals to accomplish their goals. However, we often notice that these same people aren't as fulfilled as one would think. Too much emphasis seems to be placed on success and leadership development and too little if any on developing basic choice-making or judgment skills. Leadership skills alone aren’t enough to move the needle. It takes both raising judgment and leadership skills to improve the quality of our life and of those around us.
Krishna is an award-winning speaker, Instinctive Behavior Evangelist, and the author of “Beyond the PIG and the APE”. He has also been featured in the Wall Street Journal, Barron's, The New York Times, TEDx, Vistage, Inc. & Thrive Global.
Connect with Krishna Pendyala on LinkedIn: https://www.linkedin.com/in/krishnapendyala
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About “Off the Wall”:
OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about.
Learn more about our hosts, Dave and Dean on our website at https://monumentwealthmanagement.com.