#financial-decision-making

#financial-decision-making

Once you withdraw from your 401(k) early, taxes (24 percent federal, plus applicable state taxes) and the 10 percent early-withdrawal penalty will take a big chunk of that $80,000. Your remaining funds-about $50,000-might still take you far, but also might go faster than you think.

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.

Women are often the charitable decision makers already in their families, and we see that trend continuing as women have more resources and more responsibilities.

People have been saving money for thousands of years and have developed various systems over time, revealing fundamental human behavior regarding resource management.