This is no time to rely on human judgment alone, behavioral economists and financial planners say.
With the stock market selling off and inflation at a four-decade high, it is human nature to want to take action to protect your shrinking account balances. But human nature has a lousy track record. We tend to act rashly in times of financial stress, and often in our own worst interest, behavioral economists and financial planners say. The smarter move may be to take ourselves out of the equation and switch on the autopilot.