Tag Archive for 'Financial behavior'

Later Retirement but Still No Financial Assessment

Last year it was 70. Now 80 is the “new 65”.

Middle class America is expecting to push out full retirement even later due to financial worries. We’re also expecting to have to save more. Yet almost half of us haven’t worked out how long we can last on what we’ve got already.

According to Wells Fargo’s new survey:

  • Almost half said that they expected to continue in the same job or a similar job of similar responsibility (expecting the same income level, we presume).

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Published by Barbara Navarro on November 21, 2011

Financial Adrenaline

What motivates someone to change their financial behavior? For example, can someone who is prone to spend every dime really be turned into a saver?

Fear can certainly be a motivator. For some it takes a tangible, in your face type fear like “I will lose my car if I can’t make the balloon payment that’s due in three months”. The force behind saving to avoid losing your wheels can be powerful.  But when the pain goes so away, often so does the temporary positive behavior. But still, something kicked in that worked.  I call this phenomenon, “adrenaline induced” financial behavior change.

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Published by JS Wolff on November 5, 2009