Episode 36 – Understanding our Attitude to Risk with Neil Bage


Episode 36 – Understanding our Attitude to Risk with Neil Bage

The third episode in our three part series on investments. Chris, Dave and Producer Tommo, answer listener’s questions, offer great money saving #tightasstommo tips and we have another interview with Neil (The Sage) Bage. The interview looks at risk profiling and how to understand our approach to investment risk in order to make better financial decisions.


0:10 – A Big welcome & introductions

1.05 – On this episode, second part of interview with Neil Bage, founder and creator of Be-IQ – risk profile solution software

1:35 – Listeners Questions, a question from @ankers43 about access to pensions

5:40 – Tight Ass Tommo

Returning unwanted items and beware the man in the pub

Big thank you to @not_so_witty and @deborahhicks

7:20 – Pension Scams, be aware, if it is too good to be true it probably is

9:40 – #tipoftheweek

PIWoP – Set alerts to see when big ticket items go on sale

11:0 – Interview with Neil Bage, talking about how our behaviours effect how we invest

12:00 – Setting the scene on risk questionnaires

12:35 – What is Neil’s approach to understanding risk?

13:25 – The way we assess risk and why it does not work

14:50 – Our subjective biases have a strong impact on our objective judgments

16:00 – We overweight our feelings towards loss more than we do to an equivalent gain

16:50 – Robo advice

18:05  People have no idea what they will do until faced with a situation

19:05 – What can we do to measure risk?

Know thyself, Episode 21

19:45 – We have to take investment risk, so how do we align the risk wanted and risk needed?

21:15 – Psychometric testing

22:45 – Self perception of risk is at odds with our behaviour to risk

23:35 – Risk tolerence

24:35 – Experience and how it changes attitude to risk

25:25 – Its all about decisions and learning from our experiences

26:35 – Neuro Law

27:55 – What we need to apply to plans for the future

28:40 – Reflect on past experiences to know thyself and understand behaviour

29:25 – What Suitable Strategies are doing with Be-IQ and how it can help decision making


Do you have any financial wellbeing questions you would like answered?  Maybe even a #tightasstommo money saving tip you would like to share?

If so, let us know and they could feature on a future episode. Contact us through Twitter @Finwellbeing or email – contact@financialwell-being.co.uk


If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop


Blog: COVID-19 Update

The Ovation Team is staying safe and working from home, we are still fully operational and can answer calls, emails and continue with video meetings – we are committed to delivering the same high-quality service you would usually expect from us.

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April 27, 2020

Episode 62 – Time to Reflect

Episode 62 – Time to Reflect In this episode Chris, David and Producer Tommo share some ideas to think about during lockdown, given what we know about money and happiness. The guys share how they have been spending their time and not their money. They take a look at what we can do right now … Continued

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