Frustrated worker For some employees, the time needed to research and assess each retirement savings option presented to them can seem overwhelming and result in an employee not taking any action at all. (Photo: Shutterstock)

One of the greatest challenges employees face with retirement readiness is overcoming their own biases when it comes to saving and investing. Behavioral finance, which has been around for many years, is the study of psychological biases and predispositions that can affect individuals' financial decision-making abilities. These tendencies have been examined at great length to help predict how common predispositions can deter participants from making retirement planning decisions in their best interest.

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