As humans, we misjudge risks and opportunities. Our mental software seems coded to make us fumble our finances.
Several cognitive biases trip us over money and life decisions, and there's not much we can do about it, according to Daniel Kahneman.
If the mind’s GPS is a lousy navigator, nudges like auto-enrollment aim to reroute us off the path of least resistance and onto the road to prosperity. Making the default a better option is an example of what they call “choice architecture”.
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