Behavioral Science Research Manager, PIMCO
Masterclass 4: The Well-Tempered Retiree - Fine-Tuning Investor Behaviors in Retirement
Investors transitioning to retirement face a decumulation dilemma: Uncertainty surrounding health, longevity, and market risks makes financial planning for retirement incredibly complex and anxiety-inducing. Importantly, the challenges that block investors from optimal decision making and attaining their goals are often linked to errors in human behavior. Using evidence from our recent behavioral science study, part one of this session will cover what we have learned about mitigating negative influences from overconfidence and loss aversion biases. Then, part two will cover some of the “supposedly irrelevant factors” that, although largely ignored by economic models of retirement income, had a strong influence on investor’s decision making.
Jennifer Gongola, PhD, is the Behavioral Science Research Manager at PIMCO. She is responsible for supporting the development and implementation of research projects, data management and analysis, and translating research insights into strategic and actionable recommendations. Gongola works in collaboration with PIMCO team members and the faculty at the Center for Decision Research at the Chicago Booth School of Business to advance high-quality, cutting-edge field research. Prior to joining PIMCO, Gongola was a Post-Doctoral Research Associate at the University of Southern California, Gould School of Law. She earned her PhD in Psychological Science (Dissertation: Venire Jurors' Ability to Detect and Willingness to Disclose Bias) and M.A. in Social Ecology at the University of California, Irvine.