Investing for your future life is the only way you can be sure that your retirement will be secure. Without retirement savings and investments, most people enter their golden years with more personal and financial vulnerability than they have previously experienced at any other point in life. This means that saving and investing for retirement should be a no-brainer. But you should tell that to your brain, because it doesn’t likely agree.
The brain has all kinds of inherent mechanisms to preserve your health and well being. But it doesn’t conceive of these needs very well when considering how they’ll work in the distant future. Complex brain imaging scans illustrate that people think of their future selves with no more clarity or care than they think about strangers. You wouldn’t give money to a stranger for their retirement, would you? If your brain thinks about your future self in the exact same way, why would it be easy to save for retirement?
Prudential understands how the brain works, and they’re here to help. By showing us exactly the ways in which our brains hang up our investment plans, it becomes easier to make contrary decisions to make sure that our retirements are prosperous ones. But it’ll take some work. For example, our brains tend to freeze up when presented with too many choices. We also have a hard time exhibiting financial restraint (or any other kind of restraint for that matter). We’re also prone to procrastination, and we even register the putting aside of money for saving or investment as just as uncomfortable as physical pain! Prudential understands all of these reasons and why they contribute to our lack of investment preparedness. They’re also here to help regular people like you and me overcome these mental obstacles and be ready for the future, however distant.
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