b. Framing Effects: Reframing Retirement Decisions
The way the retirement options or information are presented can greatly influence decision-making. In behavioral finance, this is known as the framing effect. For example, people are more likely to choose to save more when the choice is framed as "saving 15% of your income" rather than "spending 85% of your income."
b. Framing Effects: Reframing Retirement Decisions
The way the retirement options or information are presented can greatly influence decision-making. In behavioral finance, this is known as the framing effect. For example, people are more likely to choose to save more when the choice is framed as "saving 15% of your income" rather than "spending 85% of your income."

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