People will make worse financial decisions for them if they're choosing from a lot of options than if they're choosing from a few options. If they have more options they're more likely to avoid stocks and put all their money in money market accounts, which doesn't even grow at the rate of inflation.
Sheena IyengarIf you have the feeling of choice, if you feel free, you will be better off. And when I say better off I mean that if people feel they have control over their lives, they call in for fewer sick days from work. They have a lesser probability of having a heart attack or stroke. They live longer. They're happier.
Sheena IyengarWhen I do have choice I try to be very picky about... or shall I say choosey about when I choose. I don't automatically decide that I must be the one to choose or that it's important for me to make every choice in my life.
Sheena IyengarOnce the jazz musician learns all the fundamentals they can keep track of a lot of choices in an instant.
Sheena IyengarSo gut tells you "How do I feel about this right now?" It doesn't tell me how I feel about it tomorrow or even a few minutes from now. It just tells me how I'm feeling right now.
Sheena Iyengar