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 ...

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 ...

Ever stayed in a terrible movie just because you already paid for the ticket? Or clung to a failing relationship because of “all the years you’ve put in”? If so, congratulations—you’ve met the sunk ...

Sunk costs refer to expenses that have already been incurred and cannot be recovered. In instances where sunk costs continue to influence either personal or business decisions (or both), investors may ...

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 ...

In the 1960s and '70s, the British and French governments made a legendary misstep: betting on the Concorde. A joint manufacturing effort between Sud Aviation and British Aircraft, their supersonic ...

A Reflection for Tuesday of the Third Week of Advent Which of the two did his father’s will? Find today’s readings here. The sunk cost fallacy is a theory that posits that we keep going down a path ...

Natalya Yashina is a CPA, DASM with over 12 years of experience in accounting including public accounting, financial reporting, and accounting policies. Michael Nagle / Bloomberg via Getty Images Sunk ...