You probably think you are sensible and can make rational decisions. But you may not realise that you are influenced by a number of behavioural biases which can result in poor decision making.
Poor numeracy skills and lack of understanding will have a negative influence on your decision making. A good adviser will help you overcome your behavioural biases.
Some of the most common behavioural biases are as follows:
By presenting facts and figures in a clear and concise way and making sure you understand the importance of taking a long-term view of your retirement needs, a good adviser will help you avoid making mistakes resulting from your behavioural biases.