"What we're trying to do is take behavioral finance and apply it not just to the accumulation phase, but to the de-accumulation phase."

Among other items in the report is a checklist for advisors to ask themselves and clients. Among the questions are, "Is the retirement income strategy framed in terms of the monthly income a retiree will receive?" and "Are the implications of today's financial decisions vividly presented so employees see how their lives will be affected?" The report also looks at the problems of cognitive impairment as people age, with a special regard for impaired math skills in people's later years.

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