(The author is a financial planning coach. Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Mail at: reachyourviews@gmail.com)
A lot of people feel retirement is ages and ages away; hence think they have more than enough time to start saving for their retirement. And that's a real bad idea as procrastination breeds procrastination.
At Stanford and various other universities, computer scientists, economists, neuro scientists and psychologists are teaming up to find innovative ways of turning impulsive spenders into patient savers.
Standford researchers seem to have found a solution by nipping this procrastination problem in the bud by experimenting with a virtual reality world which assigns a specific look to the participants who can have a glimpse of their aged visual of themselves. If I want to see my face resemblance after 20 years, this technology precisely helps to do that.
But the crux of the issue is that, are we ready for our retirement financially after fulfilling all our family and financial commitments.....
Standford researchers seem to have found a solution by nipping this procrastination problem in the bud by experimenting with a virtual reality world which assigns a specific look to the participants who can have a glimpse of their aged visual of themselves. If I want to see my face resemblance after 20 years, this technology precisely helps to do that.
But the crux of the issue is that, are we ready for our retirement financially after fulfilling all our family and financial commitments.....
Interestingly, findings show that young participants who saw their virtual aged images in the screen said they would save twice the amount of their peers who didn’t view elderly images of themselves. So aging process is scary for most of them, but inevitable...I roughly attempted to see myself 20 years later and really got scared, not for looking old... but when I thought about my financial future after 20 years....
Aging is a natural process.. but plan it wisely and retire peacefully....
Do speak to experts @ Money Avenues to know more about investment opportunities and financial planning for your retirement.
(The author is a financial planning coach. Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Mail at: reachyourviews@gmail.com)
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