A fascinating article in the New York times titled “Why You Won’t Be the Person You Expect to Be” says that we “underestimate how much [we] will change in the future.” We look back and realize there have been lots of changes over the past 10 or 20 years, but when we think about the future, we think life will be about the same as now—but it won’t.
That’s relevant for financial planning because we can anticipate possible changes, plan for them, and be optimistic about improving our lives.