Saving for retirement can seem like a daunting task. When an advisor enters the picture the perceived difficulty of the task lessens. Before the advisor makes a single recommendation.
It’s all about perception.
A research team at Rutgers recently proved that a task looks lighter if help is promised. The team asked study participants to estimate how much a sack of potatoes weighed. If the participant thought he or she would have help lifting it, they guessed it weighed on the average of 9.4 pounds. If they thought they had to lift it alone, their estimate was 10.5 pounds.
The Rutgers team took a look at how competence shapes perceptions as well. They ran a study where the aid came in the form of a seemingly injured person, i.e., someone with an arm in a sling. In those instances, the task didn’t seem lighter at all.
While saving for retirement is intimidating, if clients know they have an expert at their side, the burden will seem lighter.