Decision Making at Retirement – High Stakes for the Long Haul
Retirement Income Redesigned: Master Plans for Distribution: CFA Institute Conference Proceedings Quarterly, Vol. 25, No. 3, pp. 64-74, September 2008
14 Pages Posted: 22 Mar 2011 Last revised: 10 Mar 2012
Date Written: March 16, 2011
With retirement comes significant challenges in making sound decisions concerning wealth management. Although people routinely make decisions throughout their lives, decisions made in retirement are critical because there is little time to recover from errors in judgment. This chapter draws from techniques and methods in psychology and the decision sciences to distill a set of principles that readily can be applied to making better financial decisions. The influences of aging on both cognitive and emotional processes are integrated into guidance for decision-making improvement.
Suggested Citation: Suggested Citation