Anthony Damtsis - Growing Your Wealth Confidence

This week on Standard Deviations with Dr. Daniel Crosby, Dr. Crosby is joined by Anthony Damtsis. Anthony Damtsis is Deputy Head of Behavioral Finance at TD Wealth. He has worked in the field of behavioral finance in the U.S. and Canada and holds graduate degrees in both economics and behavioral science.

Tune in to hear:

- Why do only 13% of American millionaires describe themselves as wealthy? Why don’t we recognize our abundance for what it is?

- What is wealth confidence and what are its broader implications within portfolio management?

- Wealth confidence is definitely somewhat correlated with portfolio performance, but why is net worth alone not a sufficient measure for one’s wealth confidence?

- Is there a sense in which $1,000,000 doesn’t actually get you that far with the rapidly increasing costs of living an upper-middle class lifestyle?

- When there’s a disconnect between composure and capacity, should you accommodate the personality preference, the facts on the ground or land somewhere in the middle?

- If we want to be content and confident with our money, what type of environment should we cultivate for ourselves from a social comparison standpoint?

- Does Anthony have any other practical takeaways from his research for those looking to increase their wealth confidence?

https://www.td.com/behaviouralfinance

Compliance Code: Code: 3239-OAS-12/5/2023