Retirement Blind Spots Part 1: Planning Fallacy
Spontaneous financial decisions are not always in our best interests. In this series of articles, we will examine the speed vs. accuracy tradeoff that can result in costly mistakes and create behavioral blind spots in our financial planning process.
Retirement Blind Spots Series Part 2: Anchoring Bias
Spontaneous financial decisions are not always in our best interests. In part 2 of our 3 part series, we will examine our tendency to heavily rely on the first information we receive and how too much pre-existing information can adversly effect our decision-making abilities.
Retirement Blind Spots Series Part 3: Mental Accounting
Our tendency to mentally allocate money for specific purposes can have a negative effect on our finances. In the conclusion of our 3 part series, we will examine the decades-old preference for retirees to hold on to their assets rather than experience the joy of spending their money on new experiences in retirement.