Opinion: Could this be the secret to saving for retirement?

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OPINION: If you’re struggling to motivate yourself to save for retirement, visualize your goals. But give some thought to the potential drawbacks, so you don’t waste thousands of hours and dollars going after a goal you never should have pursued.

We save too little, spend too much and what we buy often disappoints. Is there an antidote for this financially self-destructive behavior? One intriguing possibility: visualization.

But for financial goals, probably the biggest benefit of visualization is increased motivation. It can help us overcome our hard-wired tendency to favor today and shortchange our future self, while also helping us to get a better handle on what we truly want from our money. Struggling to paint a full picture because you don’t know much about a topic? You may need to talk to others or read more about your desired goal. As you fill in the details, the goal will become ever more real, its emotional intensity will grow—and you’ll be more motivated to go after it. As psychologist Jennice Vilhauer writes in Psychology Today, “Being able to do something in your head, greatly increase your chances of being able to do it in real life.

 

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