It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

What happens when an entrepreneur realizes their project isn't delivering? It can create a crossroad between perseverance and prudence—the point where passion meets pragmatism. The resulting decision ...

Everyone makes mistakes or suffers from bad luck from time to time. But too often, people dig their heels when the tide is shifting against them, rather than getting back on course — especially when ...

A neighbor and I were commiserating over a 6-foot distance about our recent losses. He said his retirement portfolio was way down, but “it’s not a loss until you cash it out.” This is a common mistake ...

Many people in long-term relationships have used the same phrase to quiet thoughts of leaving: But it’s already been so long! If I leave now, all of that time and effort will go to waste. As it turns ...

Sunk costs are unrecoverable and should not influence future spending decisions. Not all fixed costs are sunk; some can be recouped, like equipment resale. Sunk costs can result from both everyday ...