The world looked very different in 1943, when the psychologist Abraham Maslow’s “hierarchy of needs” model was first published. The world was just in the early stages of realizing the potential of computing power, which codebreakers would use to help bring an end to the world war. Fast forward to 2019, and we stand on the brink of another seismic shift: the Fourth Industrial Revolution. Amid a picture of further disruption and change, how can this model of human motivation help us understand the needs people have in today’s digital economy? To read the full article in World Economic Forum,…
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We mentally deposit money in buckets of current income, current assets, and future income. This instinctive categorization explains the popularity of so-called bucketing strategies for retirement income, whether segmented by time or type of spending. Michael Kitces, contributing writer for Financial Planning, explains how advisers can help overcome their irrational expectations. To read the full article in Financial Planning, click: Kitces: A New Hierarchy of Retirement Needs.