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Why Understanding Your Cognitive Biases Will Help Improve Your Life, Decisions and Relationships

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When I started working in the financial markets, I was enamored with how the mind works.  More specifically, it was fascinating that almost everything I was taught in college about the markets was wrong. We rarely act as rational human beings. I saw this by studying history, watching my own actions, and the actions of others. I began to study psychology and behavioral economics.  

One of the subjects I spent a lot of time studying was cognitive biases and how they affect our thinking. These biases are not always bad but it is key to understand them to improve your own decision-making and to see other point of views.

Through my studies, I found that the 3 biases affecting people most are confirmation bias, recency bias, and the bandwagon effect:

1. Confirmation Bias

Confirmation bias is the tendency to find information that only confirms to our existing beliefs. This was very useful when we were roaming around as hunter-gatherers and worried about a wild animal eating us. In that time, it was best to err on the side of caution and assume that whatever was in the bushes might kill us.

However, in modern society, this can cause us to make plenty of wrong decisions.  Confirmation bias is is the antithesis of the scientific method. I suggest trying to falsify our existing beliefs by engaging with people on the opposing side. With so much available information on the internet, it is a shame people tend to sit in their filter bubbles. Whether that is political, religious, fitness, or nutrition, we need to be open to others opinions and be willing to respect their viewpoints.

I find that having my preconceived ideas challenged and being willing to change my mind leads to better decision making in the future. It took me a long time to get to this place. I used to want to always be right all the time and I held my confirmation bias close. Now, I try to recognize when it starts creeping in and open up to opposing information.

“The older I get, the more open-minded I get, the less judgmental I get.” – Gwyneth Paltrow

2. Recency Bias

Recency bias puts too much emphasis on the most recent and available information. We tend to assume that whatever is happening in life, whether good or bad, will continue for the foreseeable future. People with recency bias can become overly pessimistic or optimistic about life events. This causes us to over-extend ourselves in the good times and seclude ourselves in the bad.

Nothing in life goes in a straight path, life is full of cycles and we must learn to ride these waves.  No matter how good or bad something feels in the moment, remind yourself that it won’t last forever.  A meditation and mindfulness practice helps me notice when recency bias is creeping into my life and allows me to center myself, stop putting myself down when things are going poorly and not to be too overconfident in the good times.

3. Bandwagon Effect

Doing something because everyone else is doing it regardless of our own beliefs is the bandwagon effect. Everyone believes we are our own person and would never act a certain way just because other people are doing it. For example, watch how the mob mentality unfolds when people act in ways they never imagined they would. Our brains evolved as part of tribes and in order to keep us safe, we had to stick together.

If we didn’t agree with the tribe, we could be banished and would then die alone in the wild.  Our brains have yet to evolve from this stance, and it makes it easy for us to just jump on the opinions of the group and ride along. Whenever I find myself agreeing with everyone else, I try to make sure I am doing it for the right reasons and it is not for the purpose of staying in the group. The status quo needs to be challenged.

When challenging these biases, I have found the most benefit is in debating with others.  Cognitive biases make it hard to change someone else’s mind, even my own. I try to stay open to others’ points of view and try to see where they are coming from and why they came to their conclusion.  In the end, different opinions are what make the world go round.  How much fun would it be if we all believed the same things? If you would like to check out a more comprehensive list of biases, The Visual Capitalist has a great infographic.

“Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln

In understanding how our own brain works, it allows us to be more empathetic with others and will help find our own blind spots. While it does happen less these days or at least I hope, I find it fascinating how I will still make irrational decisions even though I am aware of the biases I struggle with (there is plenty of research that shows I am not the only one).  If you find yourself in the same situation, remind yourself that you are now aware of your biases and improving your decision-making with this knowledge.

Which one of these biases impacts your life the most? Let us know so we can help!

Taylor Somerville worked in the investment business for the past 15 years in Memphis, TN. He recently decided it was time to move on to the next chapter in his life and is currently on sabbatical. Taylor lives an active lifestyle and recently completed the World's Toughest Mudder, a 24-hour race around Lake Las Vegas. He enjoys focusing and learning all he can on mental, physical, and spiritual well-being.

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Life

9 Harsh Truths Every Young Man Must Face to Succeed in the Modern World

Before chasing success, every young man needs to face these 9 brutal realities shaping masculinity in the modern world.

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Many young men today quietly battle depression, loneliness, and a sense of confusion about who they’re meant to be.

Some blame the lack of deep friendships or romantic relationships. Others feel lost in a digital world that often labels traditional masculinity as “toxic.”

But the truth is this: becoming a man in the modern age takes more than just surviving. It takes resilience, direction, and a willingness to grow even when no one’s watching.

Success doesn’t arrive by accident or luck. It’s built on discipline, sacrifice, and consistency.

Here are 9 harsh truths every young man should know if he wants to thrive, not just survive, in the digital age.

1. Never Use Your Illness as an Excuse

As Dr. Jordan B. Peterson often says, successful people don’t complain; they act.

Your illness, hardship, or struggle shouldn’t define your limits; it should define your motivation. Rest when you must, but always get back up and keep building your dreams. Motivation doesn’t appear magically. It comes after you take action.

Here are five key lessons I’ve learned from Dr. Peterson:

  • Learn to write clearly; clarity of thought makes you dangerous.

  • Read quality literature in your free time.

  • Nurture a strong relationship with your family.

  • Share your ideas publicly; your voice matters.

  • Become a “monster”, powerful, but disciplined enough to control it.

The best leaders and thinkers are grounded. They welcome criticism, adapt quickly, and keep moving forward no matter what.

2. You Can’t Please Everyone And That’s Okay

You don’t need a crowd of people to feel fulfilled. You need a few friends who genuinely accept you for who you are.

If your circle doesn’t bring out your best, it’s okay to walk away. Solitude can be a powerful teacher. It gives you space to understand what you truly want from life. Remember, successful men aren’t people-pleasers; they’re purpose-driven.

3. You Can Control the Process, Not the Outcome

Especially in creative work, writing, business, or content creation, you control effort, not results.

You might publish two articles a day, but you can’t dictate which one will go viral. Focus on mastery, not metrics. Many great writers toiled for years in obscurity before anyone noticed them. Rejection, criticism, and indifference are all part of the path.

The best creators focus on storytelling, not applause.

4. Rejection Is Never Personal

Rejection doesn’t mean you’re unworthy. It simply means your offer, idea, or timing didn’t align.

Every successful person has faced rejection repeatedly. What separates them is persistence and perspective. They see rejection as feedback, not failure. The faster you learn that truth, the faster you’ll grow.

5. Women Value Comfort and Security

Understanding women requires maturity and empathy.

Through books, lectures, and personal growth, I’ve learned that most women desire a man who is grounded, intelligent, confident, emotionally stable, and consistent. Some want humor, others intellect, but nearly all want to feel safe and supported.

Instead of chasing attention, work on self-improvement. Build competence and confidence, and the rest will follow naturally.

6. There’s No Such Thing as Failure, Only Lessons

A powerful lesson from Neuro-Linguistic Programming: failure only exists when you stop trying.

Every mistake brings data. Every setback builds wisdom. The most successful men aren’t fearless. They’ve simply learned to act despite fear.

Be proud of your scars. They’re proof you were brave enough to try.

7. Public Speaking Is an Art Form

Public speaking is one of the most valuable and underrated skills a man can master.

It’s not about perfection; it’s about connection. The best speakers tell stories, inspire confidence, and make people feel seen. They research deeply, speak honestly, and practice relentlessly.

If you can speak well, you can lead, sell, teach, and inspire. Start small, practice at work, in class, or even in front of a mirror, and watch your confidence skyrocket.

8. Teaching Is Leadership in Disguise

Great teachers are not just knowledgeable. They’re brave, compassionate, and disciplined.

Teaching forces you to articulate what you know, and in doing so, you master it at a deeper level. Whether you’re mentoring a peer, leading a team, or sharing insights online, teaching refines your purpose.

Lifelong learners become lifelong leaders.

9. Study Human Nature to Achieve Your Dreams

One of the toughest lessons to accept: most people are self-interested.

That’s not cynicism, it’s human nature. Understanding this helps you navigate relationships, business, and communication more effectively.

Everyone has a darker side, but successful people learn to channel theirs productively into discipline, creativity, and drive.

Psychology isn’t just theory; it’s a toolkit. Learn how people think, act, and decide, and you’ll know how to lead them, influence them, and even understand yourself better.

Final Thoughts

The digital age offers endless opportunities, but only to those who are willing to take responsibility, confront discomfort, and keep improving.

Becoming a man today means embracing the hard truths most avoid.

Because at the end of the day, success isn’t about luck. It’s about who you become when life tests you the most.

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