Bonus content "What's Your Retirementology I.Q.?" included in this digital edition.
Looking ahead to retirement? Depending on your circumstances and your age, you may no longer have any margin for error. And your emotions and irrational behavior could be perpetuating a dangerous cycle of overspending and rising debt that may shatter whatever vision of retirement you still have. Welcome to the world of Retirementology.
Retirementology bridges retirement planning with investor psychology and the market Meltdown of 2008 to produce an entirely new way of thinking about how we spend, how we save, how we borrow, and how we invest. Financial mistakes are deeply rooted in human nature, but you may be able to overcome them--if you understand the breakthrough principles of behavioral economics and apply them in your own retirement planning.
Dr. Gregory Salsbury identifies some of the classic cognitive biases and behavioral mistakes most of us keep making when it comes to retirement planning. For example: Why will people drive 45 minutes to use a $2.00 coupon? Why won't people sell a poor performing stock just because they inherited it from grandma? Why do people spend differently with a credit card than they do with cash? Why do people believe that they paid no income taxes because they received a refund? You'll learn why the financial meltdown has amplified the impact of these all-too-human cognitive mistakes and discover ideas for addressing them.
The bottom line for your bottom line is that retirement can no longer be ignored, viewed as a single event, relegated to a "zone," or romanticized. Instead, you must understand how every spending and financial decision you make from here on can impact the way you will spend your golden years. Retirementology attempts to help you do just that.
Retirement planning: right brain versus left brain
Why these different areas of the brain impact financial decisions--and what to do about it
It's real money! "De-layering" your finances
How to overcome the psychological tricks that separate you from your money
Family matters: managing financial support decisions for your extended family
Choosing between your family or your retirement
Get "long-term smart"
How longevity, inflation, volatility, and your own expectations impact your retirement goals
Gregory Salsbury, Ph.D. is Executive Vice President of Jackson National Life Distributors LLC (JNLD) and a much sought-after industry speaker on the subjects of investor behavior, adviser best practices, and retirement.
Salsbury received a master's degree in communications from the University of Illinois, and a second master's degree in communication technologies from the Annenberg School of Communications. He received his doctorate in organizational communication from the University of Southern California and is published in the areas of sales, marketing, employee motivation, behavioral finance, and retirement. From his work and experience as a long-standing executive in the financial services industry, Salsbury was uniquely positioned to craft a visionary view of retirement's future. His landmark book, But What If I Live? The American Retirement Crisis, was a wake-up call for a generation of undersaved, overspent, and unprepared Baby Boomers.
Chapter 1 Great Expectations 17
Chapter 2 Gold Dust on Sushi 35
Chapter 3 The NoZone 63
Chapter 4 House Money 79
Chapter 5 Family Matters 101
Chapter 6 The Tax Man Will NOT Come Knocking 129
Chapter 7 Under the Knife 155
Chapter 8 Lost in Translation 177
Chapter 9 Long-Term Smart 195
Reterminology The New Language of Retirement 205