Unifying the Physiologic and Psychologic Financial Planning Divide: Holistic Life Planning, Behavioral Economics, Trading Addiction, and the Art of Money

Applications of Behavioral Economics in Personal Financial Planning

Financial Planning Competency Handbook ◽

10.1002/9781119642497.ch82 ◽

2019 ◽

pp. 751-762

Keyword(s):

Behavioral Economics ◽

Financial Planning ◽

Personal Financial Planning

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Financial planning for social care in later life: the ‘shadow’ of fourth age dependency

Ageing and Society ◽

10.1017/s0144686x12001018 ◽

2012 ◽

Vol 34 (3) ◽

pp. 388-410 ◽

Cited By ~ 12

Author(s):

DEBORA PRICE ◽

DINAH BISDEE ◽

TOM DALY ◽

LYNNE LIVSEY ◽

PAUL HIGGS

Keyword(s):

United Kingdom ◽

Residential Care ◽

Financial Planning ◽

Social Care ◽

Later Life ◽

Ageing Population ◽

Older Couples ◽

Policy Makers ◽

Life Planning ◽

The United Kingdom

ABSTRACTAs policy makers in the United Kingdom and many other countries grapple with financing the needs of an ageing population, financial planning for social care in later life is high on political agendas. We draw on qualitative research with older couples in the United Kingdom about their intimate money practices to analyse the day-to-day meanings attributed to money, saving and consumption in the context of financial planning for later life and death. We find that expenditure on funerals and home adaptations is discussed, negotiated and planned, as is ‘downsizing’ to release capital from the home for financing day-to-day expenses and leisure expenses. These outcomes are within easy contemplation and indeed money practice of older couples. In contrast, end-of-life planning for domiciliary or residential care was virtually non-existent across all socio-economic groups, and couples employed a range of techniques to avoid making these discussions ‘real’. Costs (while well known) are seen as astronomical, details are scarce, intensive domiciliary care is never discussed, and death is seen as preferable to residential care. We theorise antipathy to care planning as a product of social and psychological construction of the ‘fourth age’ as a period of abjection, and therefore ‘wasted’ expenditure. Exhortations by policy makers for individuals to consider care costs will be ineffective without recognition of the cultural transformation of later life.

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Life Planning / Strategic Planning / Financial Planning

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v3i12.2841 ◽

2011 ◽

Vol 3 (12) ◽

Author(s):

E. J. Roy Knaus

Keyword(s):

Strategic Planning ◽

Financial Planning ◽

Business School ◽

Career Planning ◽

Font Size ◽

Capstone Course ◽

Life Planning

This Paper examines a technique for doing ‘Life Planning’.   The technique is one that has been tested by the author in a number of sections of a business school’s capstone course.  The study is empirical in nature, applying concepts found, mainly, in strategic planning but, also in psychology, career planning and financial planning.

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