Buch, Englisch, 336 Seiten, Format (B × H): 170 mm x 244 mm, Gewicht: 680 g
Closing the Retirement Funding Gap by Understanding How Humans Make Decisions
Buch, Englisch, 336 Seiten, Format (B × H): 170 mm x 244 mm, Gewicht: 680 g
ISBN: 978-1-394-33237-3
Verlag: Wiley
Unlock the secrets to successful retirement planning with insights that will revolutionize the way we make financial decisions
In The Quadrillion Dollar Bridge: Retirement Behaviour, author Josef Pilger delves into the complex landscape of retirement, systems, decisions, planning, behaviours and outcome expectations providing vital guidance for policymakers, individuals, retirement and financial services providers. This book addresses the complex challenges consumers, policymakers and providers face today, from navigating investments to making informed decisions that affect the retirement lifestyle for millions. With Pilger's extensive experience in the global retirement and financial services sector, he offers practical solutions designed to empower readers for a more secure financial future.
Packed with research-based insights and actionable strategies, the book dissects the evolving retirement landscape—highlighting how you can better navigate the shift from defined benefits to individualized plans and what he calls “Retirement 2.0”. Readers will learn how to make informed choices that improve their retirement systems, delivery and outcomes, ensuring they achieve lasting peace of mind.
Inside the book: - Discover how understanding behavioural psychology can reshape investment strategies
- Learn best practices to maximize retirement savings, systems and outcomes
- Explore the interconnectedness of health, wealth, longevity and career decisions in planning for the Golden Years
The Quadrillion Dollar Bridge: Retirement Behaviour is a must-read for policymakers, financial services providers, pension fund professionals, and financial advisors eager to enhance their clients' retirement planning experiences. Empower yourself and your clients today with the knowledge needed to thrive in a complicated financial landscape.
Autoren/Hrsg.
Weitere Infos & Material
Foreword xi
Preface xiii
Charts xvii
Section A Framing Context 1
Retirement System Objectives: Purpose and Cultural Framing Expectations 3
Problem: What Problem? The Governance and Fiduciary Duty 8
Retirement System Parameters 11
Section B Retirement and Financial Well-Being Ecosystem 23
The Financial Well-Being Ecosystem 23
Retirement Decision Map 26
The Unavoidable Statistical Section 28
The Retirement Memories Map 31
Why Are Retirement Decisions So Hard? 34
Financial Literacy and Financial Advice as Silver Bullets? 38
What Can We Learn from Human Evolution? 43
Intergenerational Wealth Transfer 56
Behavioural Economics – Progress at Last? 57
Retirement Success 59
Financial Planning Success 65
Section C Transform Retirement 2.0 – Defining the Crucial Challenge(s) 67
Laying the Foundations 67
The New Brand of Retirement 2.0 71
The Foundation of Success in Retirement 2.0 74
Transform: How Can We See What Others Do Not? 78
A Policymakers’ Balanced Scorecard for Retirement 2.0 80
Longevity’s Impact on Governments 84
Section D Transform Retirement 2.0 – Breaking Down the Challenge(s) 103
Break Down the Challenge and Challenge Statement 103
Compare Stakeholders’ Perspectives and Wants 113
Section E Transform Retirement 2.0 – Search within the Sector 143
Searching for Best Practices from Australia 144
Searching for Best Practices from the Netherlands 145
Searching for Best Practices from Denmark 146
Searching for Best Practices from Hong Kong 147
Searching for Best Practices from Malaysia 148
Searching for Best Practices from the United States 149
Searching for Best Practices from Canada 151
Searching for Best Practices from Chile 153
Searching for Best Practices from India 154
Searching for Financial Advice Best Practices in the United Kingdom and Australia 155
Selected Key Lessons from within the Global Retirement Ecosystem 163
Section F Transform Retirement 2.0 – Search Outside of the Sector 167
The Search for Better Attraction and Engagement 168
The Search for More Learning about Customer Attraction at Scale 172
Search for Financial Security-Centric Retirement Advice Lessons 174
Search for Better Enablement and Decision for Retirement Lessons 180
Search for Lessons for a Better Ecosystem and a ‘Fulfilled Life’ 185
Learning about the Illusion of Validity 187
Search for Better Government and Policymaker Interventions 188
Lessons from the Global COVID Vaccine Journey 189
Lessons from the Implementation of Obama Care 192
Lessons from the Kingdom of Saudi Arabia’s Vision 2030 Journey 193
Section G Transform Retirement 2.0 – The Options Map 197
Developing the Options Map Pragmatically 197
Shift 1: From Retirement 1.0 to 2.0 and ‘Fulfilled Life’ Transformation 200
Shift 2: From Incremental to Transformative Outcome Architecture 208
Shift 3: From Process and Choice to Saver Outcome Architecture 210
Shift 4: From Process to Outcome Governance 215
Shift 5: From Process and Product to Value-Chain Architecture 220
Shift 6: From Financial Planning to Advice Outcome Architecture 228
The Political Test: The $1 Quadrillion Prize of Value Generation 247
The $1 Quadrillion Prize Journey 248
Section H What Do the Six Shifts Mean More for the Golden Years? 251
Framing the Conversation 251
Framing Success 254
The Australian Retirement System 257
The German Retirement System 267
The Dutch Retirement System 272
The UK Private Retirement System 273
The US Private Retirement System 276
Section I International Leaders’ Thinking 285
Introduction 285
Andrew Evans, Group CEO, Smart Pensions 285
Nikki Pirrello, President and Publisher, Pensions & Investments 286
John Mitchem, Principal, JM3 Projects New York and Co-Founder of Jasper Forum, a Global Retirement Finance Discussion Group 289
Section J Conclusion 291
We Need to Put Humans in the Centre – Finally 291
One Key Aspect Remains to Manage Transformative Savers’ Outcome Expectations 293
Suggestions for Future Work 293
Notes 295
Index 303
