Description
Planning for retirement requires logical, rational, and conscious thinking. The problem is many investors take shortcuts in their thinking and decision making. The field of behavioral finance teaches us how financial decision making is critical to retirement planning. This continuing education course explores ways to help investors recognize planning errors to better prepare them for the income stream they may need and want in retirement. It is intended for an audience with an intermediate level of knowledge and includes planning considerations around income decumulation, social security, taxes, legacy, protection, growth, and annuity principles.
Learning Objectives
a basic understanding of behavioral finance as a field and its universal nature; help participants examine how the planning fallacy, anchoring bias, and mental accounting dramatically affect how retirees plan for and spend money in retirement; provide strategies for overcoming these cognitive biases; explore how overcoming these biases can lead to a more productive and comfortable retirement experience.