Overcoming Anchoring Bias: Review Assumptions Periodically Retirement planning is an adaptive proces

Overcoming Anchoring Bias: Review Assumptions Periodically Retirement planning is an adaptive process that demands periodical reviewing. Set up the practice of regularly reviewing and altering your savings rate, investment strategy, and retirement goal by virtue of updated information, life change conditions, and shifting market situations.
Use realistic projections: Instead of making optimistic assumptions about returns on investments or retirement expenses, use conservative and realistic projections in planning for retirement. This will help you to better prepare for the twists and turns of life as they come along.
3. Behavioral Finance Strategies for Better Retirement Planning
Understanding the above biases is the first step toward improving retirement planning. But there are many practical strategies that an individual may employ to overcome the above biases in order to optimize his or her retirement savings.