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Sean Wheller
Home arrow Stock Articles arrow Financial Planning Through The Ages
Financial Planning Through The Ages
Wednesday, 16 January 2008
The needs of the present make themselves felt through emotion. Those needs have a strong voice, and clamour for immediate attention. In contrast, the needs of the future have a much weaker voice, expressing themselves more through thought. Most people feel the urge to satisfy their immediate needs, but they only think about satisfying their future needs. - Shefrin, 2000. ( Beyond Greed and Fear: Understanding Behavioural Finance and the Psychology of Investing ) The above quotation by Shefrin explains why most people find it difficult to provide for old age by saving and investing. Spend now and save later becomes the maxim, except that later often becomes not at all. As a result, only about 6% of South Africans do not suffer a marked decline in living standards at retirement. If you suspect that you are heading for a place among the 94% facing an uncertain future, do not despair. By taking immediate action, you can do much to improve your financial health. Putting a plan in place allows you to exercise control over your financial future, and with control comes greater peace of mind.
Read more at: Stock Investor Network

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