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Wrinkles and your wallet

Tuesday, November 15, 2011 - 01:55

Afraid of wrinkles? Get over it, because you'll probably be seeing yourself covered in them the next time you sit down with your financial adviser. Hal Hershfield, assistant professor at NYU Stern School of Business, tells Reuters' Money Editor Lauren Young that visual aids make a difference when it comes to planning for the future.

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How are you telling me that all these people around us. Some times where he knew what they look like your retirement and they say more. There's a good chance there that we start thinking about doing then maybe actually starts anymore. -- -- We see the vivid visual representation of ourselves in the future he really helps us conduct ourselves. Think about our distant zone. We're real time more concrete. Kind of person we actually need to start considering how this money would actually stay inside not solve all our. Well across a couple of -- studies we've found that people put about twice as much my. Hypothetical retirement account when they're exposed images of their future ourselves compared to when they're not feeling is a bunch of people who was your favorite old person. Well you brewers I. We aids Mark Zuckerberg I think he looks way ahead. -- -- -- -- Retirement why this matters now. As of right now about two thirds of baby boomers. We'll be able to maintain their standard of we know that more than half of Americans have less than 20000 dollars savings to simply won't. Get them through retirement and the number of people sure seriously at risk of having underfunded retirement has been slowly creeping up over the years. So this is something of -- financial industry is going to be doing. That's exactly right now we're starting to work for the company now they implement these types of intervention so. Real consumer Israel's decision makers and start to see what the look like a retirement it's about my financial hasn't been -- here. -- -- I'd -- pretty good they -- the next six days months or so.

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Wrinkles and your wallet

Tuesday, November 15, 2011 - 01:55