Understanding how your unconscious mind influences your investment decisions may help you achieve more consistent, dependable results.

In this video, behavioral scientist Dr. Nina Mazar explains five common investment biases that can stand in the way of achieving better investment outcomes, including:

• Overconfidence. You overestimate your investment abilities and underestimate risk.
• Aversion to loss. Your approach could become more conservative after a loss, and you might miss out on opportunities.
• Anchoring. You rely too heavily on specific information when making decisions.
• Pattern-seeking behavior. The human brain seeks patterns. This can lead you to mistakenly believe you can predict what will happen with investments.

Watch the video to learn more about the biases and how to circumvent them. Also consider revisiting your long-term investment portfolio regularly. Your Ameriprise advisor will provide personalized recommendations based on your goals, risk tolerance and time horizon.