TITLE

Nostalgia as a Financial Variable: "We're not depressed; we're worried."

AUTHOR(S)
Cutler, Neal E.
PUB. DATE
March 2011
SOURCE
Journal of Financial Service Professionals;Mar2011, Vol. 65 Issue 2, p18
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Financial satisfaction about the future always includes some comparison between what we currently have and what we might need. Financial advisors appropriately focus on numerical projections of client resources and needs over the next number of years. But the mental metrics many clients use to evaluate future resources versus expenditures are rooted in their past personal experience. Even if they have sufficient resources to pay current bills, financial nostalgia from teenage years starkly reminds them that things will cost more in the future. They may not worry about today's cost, but these mental metrics emphasize that most important costs will rise. And for that, often independent of their income, their worries are real.
ACCESSION #
59244547

 

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