Gain activities don’t have to be done, but if they are, they can improve our overall health, wealth and happiness. If we don’t focus on gain activities, such as building strong relationships with family and clients or investing time in things we truly care about, we may never achieve our life goals.
But it’s not that simple. Pain-driven activities typically get our attention first — they are the nagging, annoying tasks we simply can’t avoid. Time and time again we sideline gain activities in favor of preventing pain.
Helping Clients Overcome Loss Aversion
As financial professionals, it is our job to help ensure that our clients prioritize gain ahead of pain while also obtaining some level of comfort with pain. In our industry, we’re all familiar with the idea that investors are driven by fear and greed. But let’s put aside the negative connotations of greed for a moment and stay focused on the concepts of pain and gain.
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