{"id":903,"date":"2024-11-27T20:24:00","date_gmt":"2024-11-28T01:24:00","guid":{"rendered":"https:\/\/qa.yourwebsitebuild.com\/nia\/?post_type=report&p=903"},"modified":"2025-11-19T14:07:43","modified_gmt":"2025-11-19T19:07:43","slug":"steps-5-6-improving-long-term-financial-decision-making-by-bridging-the-psychological-divide-between-today-and-tomorrow","status":"publish","type":"report","link":"https:\/\/qa.yourwebsitebuild.com\/nia\/reports\/steps-5-6-improving-long-term-financial-decision-making-by-bridging-the-psychological-divide-between-today-and-tomorrow\/","title":{"rendered":"Steps #5 & #6: Improving Long-term Financial Decision-making by Bridging the Psychological Divide Between Today and Tomorrow"},"content":{"rendered":"\n

Steps 5 and 6 of the eight-part paper series, Improving Long-term Financial Decision-making by Bridging the Psychological Divide Between Today and Tomorrow<\/strong>, delve into the psychological factors that often prompt Canadians to start their pension benefits earlier than necessary: a choice that can significantly reduce their financial security in later years.<\/p>\n\n\n\n

This latest paper addresses the cognitive and behavioural hurdles that contribute to a \u201cpresent bias\u201d: the natural tendency to prioritize immediate needs over long-term benefits. This bias can lead to hasty decisions that fail to consider the vulnerabilities many Canadians experience in later years. Building on previous report findings, this segment offers practical strategies to help retirees overcome these factors and make informed decisions about delaying benefits, ultimately enabling them to secure larger, inflation-protected incomes throughout their retirement.<\/p>\n\n\n\n

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Download Report<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Steps 5 and 6 of the eight-part paper series, Improving Long-term Financial Decision-making by Bridging the Psychological Divide Between Today and Tomorrow, delve into the psychological factors that often prompt Canadians to start their pension benefits earlier than necessary: a choice that can significantly reduce their financial security in later years. This latest paper addresses […]<\/p>\n","protected":false},"author":1,"featured_media":1426,"parent":0,"menu_order":0,"template":"","meta":{"image":"\"\"","link":"https:\/\/qa.yourwebsitebuild.com\/nia\/reports\/steps-5-6-improving-long-term-financial-decision-making-by-bridging-the-psychological-divide-between-today-and-tomorrow\/","target":"","category":"

Income Adequacy<\/div>","date_formatted":"November 27, 2024"},"category":[5,6],"stake-holder":[16,14,15],"class_list":["post-903","report","type-report","status-publish","has-post-thumbnail","hentry","category-income-adequacy","category-pensions","stake-holder-older-adult","stake-holder-policy-makers","stake-holder-sector-organizations"],"acf":[],"yoast_head":"\nSteps #5 & #6: Improving Long-term Financial Decision-making by Bridging the Psychological Divide Between Today and Tomorrow - NIA<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steps #5 & #6: Improving Long-term Financial Decision-making by Bridging the Psychological Divide Between Today and Tomorrow - NIA\" \/>\n<meta property=\"og:description\" content=\"Steps 5 and 6 of the eight-part paper series, Improving Long-term Financial Decision-making by Bridging the Psychological Divide Between Today and Tomorrow, delve into the psychological factors that often prompt Canadians to start their pension benefits earlier than necessary: a choice that can significantly reduce their financial security in later years. 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