Author: finxl79

Behavioral Finance Strategies for Better Retirement Planning Understanding the above biases is the first step toward improving retirement planning. But there are many practical strategies that an individual may employ...... Read More

Use realistic projections: Instead of making optimistic assumptions about returns on investments or retirement expenses, use conservative and realistic projections in planning for retirement. This will help you to better...... Read More

Overcoming Anchoring Bias: Review Assumptions Periodically Retirement planning is an adaptive process that demands periodical reviewing. Set up the practice of regularly reviewing and altering your savings rate, investment strategy,...... Read More

Anchoring Bias:- Relying Too Heavily on Initial Information Anchoring bias takes place when a person relies excessively on the first information he comes across while making a decision. Retirement planning...... Read More

Overcoming Mental Accounting:- • Consolidate accounts:- If possible, consolidate retirement accounts to make savings more streamlined and efficient. This approach makes it easier to monitor your overall progress and avoid...... Read More