Why you do that
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Evaluate financial advice before acting on it

Getting Expert AdviceLoss aversionSunk cost fallacyAvailability heuristic

When to use

You've received financial advice and want to pressure-test it before acting.

What you'll get

A stress-test of the advice covering key assumptions, a check for loss aversion or recency bias on your part, and a question to take back to your advisor.

The prompt

I've received the following financial advice: [ADVICE]. Their reasoning: [THEIR REASONING]. My situation: [BRIEF CONTEXT]. My hesitation: [WHAT'S MAKING YOU PAUSE].

Stress-test this before I act:

- What assumptions does this advice depend on, and how sensitive is the outcome to each one being wrong?
- Is my reluctance to act potentially driven by not wanting to crystallise a loss or give up a position I've held for a long time — even if the forward-looking case for holding it is weak?
- Is my inclination to act (if I have one) potentially driven by recent market events or vivid stories rather than actual long-run base rates?

After that, tell me what single question I should go back and ask my advisor that I haven't asked yet.
Why this prompt works
Both failure modes are covered — the person too cautious due to loss aversion, and the person too eager due to recent vivid examples.

The psychology behind this

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