Money Meets Medicine Podcast
The Importance of Keeping Investing Stupid Simple (KISS)
Did you know that when it comes to investing, keeping it simple often leads to better returns?
Keeping it simple is not just my or Lisha’s opinion – studies show that this is a more effective, sustainable way to go about investing.
Why? Because it turns out that as humans, we don’t like as many choices as we think we do. We take action less often when we feel overwhelmed with choices. Just think of the last time you asked your partner where they wanted to go for dinner…
In fact, in a jam (yes, jam) display study on consumer habits, a display case with 24 varieties of jam received more customer traffic but ten times fewer sales than a display case featuring only 6 jams. When we have too many choices, we often don’t choose at all. Also known as: analysis paralysis.
We love talking about the psychology of investing, so let’s dive into some of those principles and how simplicity can help you when it comes to real-life application.
In this episode, we discuss:
- Examples of analysis paralysis (7:25)
- How Lisha operates psychologically when it comes to investing (10:06)
- A great way to start when you’re new to investing (15:49)
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Recently I sat down with one of my good friends and one of the OG partners of The Physician Philosopher. He’s an anesthesiologist, husband, father, entrepreneur, as well as a real estate and physician side gig guru – of course, I’m talking about Dr. Peter Kim.
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So let’s dive into this discussion with Dr. Peter Kim and the intersection of all things entrepreneurship, side gigs, medicine, money, and real estate.
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