The Rational Reminder Podcast

Deeper Goals, and Retiring with Purpose (EP.245)

24 snips
Mar 23, 2023
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INSIGHT

Goal-Setting Obstacles

  • Identifying long-term financial goals is complex, involving math, emotions, and forecasting.
  • Cognitive biases like hyperbolic discounting and availability bias influence our goal selection.
INSIGHT

Advisor/Client Challenges

  • Advisors face the challenge of guiding clients toward financial outcomes they cannot yet envision.
  • Clients struggle with deep thinking, often getting stuck on immediate desires.
INSIGHT

Goal Evolution

  • Initial goal-setting yields surface-level goals like retirement or homeownership.
  • Deeper, values-based goals emerge with structured prompts, revealing true motivations.
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