Studying behavioral economics has taught me that our brains don't make it easier for us to get the ball rolling on our retirement savings.
Tools and calculators that show users their retirement goal progress; Fidelity Five Money Musts online game to teach you about managing money in the real worldHow many times have you said you can get an assignment done in a certain amount of time only to realize that it actually took you longer to complete it? This is called the planning fallacy and it's all too common — especially when it comes to our finances.
We tend to underestimate how long it will take to complete a future task, often despite knowing that previous similar tasks have taken longer to complete than planned.until their 30s or 40s thinking that they should be able to amass as much as they'll need for their golden years in just two decades. But once they factor in their current expenses and financial obligations, they find that it'll actually take a lot longer than they initially believed to build a comfortable retirement fund.
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