How Behavioural Finance Enhances Retirement Planning
Retirement planning is one of the most valuable monetary goals at any point in life. It calls for intense care and practice, with the necessary penetration to financial theories for you to save sufficiently and invest judiciously to lead a well-retired comfortable life. However, personal biases and emotions inject a wedge into the process of decision-making, leading to less-than-optimal financial decisions. It is where behavioural finance helps: the field unifying the perspectives of psychology with that of traditional economics. Once you know of the cognitive biases along with emotional factors creating impairments in financial decision-making, the domain of behavioural finance would be of help to you in formulating a better retirement plan.
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