Advertisement:
You know you need life insurance, but how much and what kind? Get personalized answers from Nelsonomics creator Danny Nelson with a Life Insurance Blueprint.
Placeholder Lesson:
** This lesson is generated with AI assistance and approved by Danny Nelson. This lesson will communicate the essence of the topic for now until Danny can create a full lesson. **
Status quo bias is the preference for things to stay the same rather than change.
People often stick with default options because change feels risky or uncomfortable.
This can lead to missed opportunities or remaining in suboptimal situations.
In finances, it might mean keeping the same investments even when better options exist.
The bias reflects the human desire for stability and avoidance of uncertainty.