This week’s article tells us that “A new study has found that one difficulty workers saving for retirement have in judging whether they’re on track is that they could be under the “illusion of wealth” or, conversely, under the “illusion of poverty.” The study, “The Illusion of Wealth and Its Reversal,” published in the Journal of Marketing Research, found that the format in which information is presented affects an individual’s perception of wealth (or poverty).” We thought you might be interested in this study, and why individuals fall into one category or the other. Call us once you’ve had a chance to rethink where you might be in this spectrum. We are always here to offer out options you may not have considered to help you get where you would like to be in your retirement planning.
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DO YOU HAVE AN ILLUSION OF WEALTH OR AN ILLUSION OF POVERTY?
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This commentary was created by a third-party for the Agent’s use. NTM 08-27.