When planning for retirement, consumers confront many potential perils such as longevity, inflation and investment risk. Then there is behavioral risk; it’s difficult to plan for and not as well recognized as the others. Behavioral risk relates to how people make financial decisions and the biases that can handicap their decision-making.
Alison Salka, LIMRA’s corporate vice president for retirement research, talks about this phenomenon in the latest
LIMRA’s MarketFacts Quarterly.
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Mitigating Behavioral Risk