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Face value: Digitally aged pictures cause people to save more for retirement If you have trouble conceiving of the financial needs of your older self, you’re not alone. Studies show that the part of the brain that lights up when people think about themselves in retirement is the same one that is activated when they think about a stranger. To bridge the gap, a team of researchers at Northwestern University, led by Hal Ersner-Hershfield, have developed digital imaging techniques that show prospective savers what they will look like at retirement age. Seeing themselves years later significantly increased their willingness to commit more money to retirement savings, as did changing the image so that the face was smiling. Insurance and wealth management giant Allianz is now developing a scaled-down version of the technique for its financial advisers to use. (via An investor’s worst enemy? Their brain - The Globe and Mail)
