Thinking Smarter by Shlomo Benartzi
From the acclaimed behavioral economist Shlomo Benartzi, a powerful new approach to thinking smarter when making important life decisions. Although we've been blessed with a very powerful thinking machine--our minds--there's good evidence that we don't like to think. In fact, one study shows that many people prefer receiving electric shocks to thinking and reflecting. Other studies show that even when we do think, we tend to think in too narrow and shallow a fashion. With these shortcomings, how can we be smarter when thinking about life situations like retirement? For example, once we have built up a financial nest egg, how can we become better thinkers about what to do in retirement? To help us, behavioral economist Shlomo Benartzi introduces the notion of thinking architecture and thinking tools. In this book, he offers one such thinking tool--a unique seven-step system called the Goal Planning System (GPS)--and explains the science behind it. When applied to retirement planning, this system helps readers identify what they value most, what they want to achieve in retirement, and ultimately, who they really are. By going through GPS, readers will then have a solid foundation upon which to build a tailored action plan that can help them attain their goals. To illustrate the impact GPS can have, Thinking Smarter considers the cases of Phillip and Francesca, actual retirees, and the action plans they developed after using GPS. For example: - Spend More Today While many people spend too much and outlive their assets, Phillip discovered that he errs on the side of spending too little, so he will plan to spend more on something he values a lot--traveling with his wife. - Claim More Tomorrow GPS taught Francesca that she places a high value on financial independence. An action plan that makes sense for her is to reap the financial benefit derived from deferring Social Security until she's seventy, rather than claiming it as soon as she becomes eligible at age sixty-two. Thinking Smarter will become your indispensable guide to making better life decisions and achieving the future you really want.
Shlomo Benartzi is a professor and cochair at the Behavioral Decision-Making Group of the UCLA Anderson School of Management. He is also the chief behavioral economist for the Allianz Global Investors Center for Behavioral Finance. Benartzi co-created with Richard Thaler the acclaimed Save More Tomorrow(TM) program, which makes it easy for employees to increase their retirement saving rate. The program is used by more than half of the large employers in the United States and has likely helped millions of American workers boost their retirement savings. Similar programs are gaining momentum globally, including in the United Kingdom, Australia, and New Zealand.
Roger Lewin, PhD, is the author of more than twenty trade books, including the acclaimed Complexity: Life at the Edge of Chaos, and has been a collaborative author of more than half a dozen books in the areas of anthropology, cosmology, animal cognition, and behavioral economics.
The Allianz Global Investors Center for Behavioral Finance is committed to empowering people to make better financial decisions. For more information, visit befi.allianzgi.com.
| SKU | Unavailable |
| ISBN 13 | 9781591848059 |
| ISBN 10 | 1591848059 |
| Title | Thinking Smarter |
| Author | Shlomo Benartzi |
| Condition | Unavailable |
| Binding Type | Hardback |
| Publisher | Penguin Putnam Inc |
| Year published | 2015-05-12 |
| Number of pages | 144 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |