Article preview: Making important decisions, especially money decisions, requires a lot of mental space. According to some new research, more than four million of us lack the mental space needed to make the right decisions when faced with difficult choices. That’s according to insurer Scottish Widows, who also found that a further 6.4 million people don’t have enough time to carry out important ‘life administration’ tasks. The research found that more than half of Brits always ensure they make the best possible choice when choosing a suitable holiday destination. In contrast, less than a third of us take the same degree of care when making changes to pension arrangements.
Mental energy to make important financial decisions
This 805-word blog post considers new research from Scottish Widows which found we expend more mental energy on trivial decision making and less on important, financial matters. Includes five tips for making harder decisions easier. Includes comments from Robert Cochran, a retirement expert at Scottish Widows, and Professor Mark Fenton-O’Creevy, Professor of Organisational Behaviour at The Open University Business School, an expert on financial decision making. Written on 22nd April 2019.
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