Helping clients decumulate responsibly promotes well-being

Meir Statman  |  Santa Clara University  |  13 October 2021 |  0.75 CE

The same mind-set that works so well when people are building their nest egg for retirement can damage their quality of life in retirement. Many retirees have a difficult time changing their mindset from a saver to a spender. Even people who want to “smooth” spending during their entire life cycle find it difficult to estimate their life-cycle wealth. Moreover, people find it difficult to resolve conflicts between wants for spending and wants for saving - and we reconcile conflicts between these wants using framing, mental accounting, and self-control rules...

Not yet a Member? It’s quick and free to join. Already a member? Please log in.

What's new with our live and on-demand continuing education, accreditation and certification programs.