Reframing the retirement saving challenge : getting to a sustainable lifestyle level

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dc.contributor.authorDe Villiers, Johann U.en_ZA
dc.contributor.authorRoux, Elze-Marien_ZA
dc.date.accessioned2019-07-01T06:57:30Z
dc.date.available2019-07-01T06:57:30Z
dc.date.issued2019
dc.descriptionThe original publication is available from https://www.springerpub.com/journals/journal-of-financial-counseling-and-planning.htmlen_ZA
dc.description
dc.description.abstractAn increasing number of individuals will be unable to retire comfortably amidst an international retirement savings crisis. Research suggests that behavioral factors contribute to inadequate retirement savings. We present a procedure that reframes the retirement savings decision, aimed at alleviating some of the negative effects of the behavioral factors. This procedure shifts the focus from the required wealth at retirement (the future) to the lifestyle an individual can afford to maintain now (the present). A sustainable lifestyle level (SLL) approach is expressed mathematically and illustrated with practical examples. The SLL approach offers a practical tool for retirement planning professionals to present recommendations that are simple and easy to understand for individuals faced with complex retirement planning decisions.en_ZA
dc.description.versionpost print
dc.identifier.citation
dc.identifier.issn1947-7910 (online)
dc.identifier.issn1052-3073 (print)
dc.identifier.other
dc.identifier.urihttp://hdl.handle.net/10019.1/106304
dc.language.isoen_ZAen_ZA
dc.publisherSpringer Publishing Comp
dc.rights.holderAuthors retain copyright
dc.subjectBehavioral economicsen_ZA
dc.subjectBehavioral financeen_ZA
dc.subjectChoice architectureen_ZA
dc.subjectFfinancial planningen_ZA
dc.subjectFraming effectsen_ZA
dc.subjectRetirement planningen_ZA
dc.titleReframing the retirement saving challenge : getting to a sustainable lifestyle levelen_ZA
dc.typeArticle in Pressen_ZA
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