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Allianz Global Investors Center for Behavioral Finance Announces Release of Professor Shlomo Benartzi's Book Thinking Smarter: Seven Steps to Your Fulfilling Retirement… and Life

Allianz Global Investors Center for Behavioral Finance announced today the release of Thinking Smarter: Seven Steps to Your Fulfilling Retirement… and Life (Portfolio Penguin), authored by Shlomo Benartzi (with Roger Lewin), professor and co-chair of the Behavioral Decision-Making Group of the UCLA Anderson School of Management and chief behavioral economist of the Center.

When faced with complex decisions like planning for retirement, we often start heading down a path before thinking carefully about what we really want to accomplish. The 7-step Retirement Goal Planning System (GPS) unveiled in Thinking Smarter helps you pace the decision process, step back, and ask: What do I want to achieve? What am I missing? And what matters most to me? The system is grounded in the latest research from the fields of behavioral finance, decision science and psychology. When applied to retirement planning, this system helps readers identify what they value most, what they want to achieve in retirement, and ultimately, who they really are. By going through GPS, readers will have a solid foundation upon which to build a tailored action plan that can help them attain their goals.

“Thinking Smarter applies the new concept of thinking architecture to managing money in retirement with the goal of improving decision making and outcomes,” said Benartzi. “The Center for Behavioral Finance has already helped people save more for retirement and now we are trying to help those in retirement use their money wisely. It is critical that retirees realize their true wants and needs to get the most of their retirement savings.”

"This is a most unusual retirement planning book, for it focuses squarely on the psychological barriers to good saving, investing and life's goals achievement, and from a scientific perspective. I have never seen an account of these issues that has such a solid and detailed plan for dealing with these all-important barriers.” Robert Shiller, Nobel Laureate, professor of economics, Yale University; author of Irrational Exuberance and Finance and the Good Society

“Too often, "retirement planning" is limited to financial issues, leaving many vital factors unaddressed. In this highly original and practical book, Benartzi helps people prioritize their goals for their later years, and shows them how to really think creatively about their future.” Richard Thaler, University of Chicago, co-author of Nudge and author of Misbehaving.

As a complement to Thinking Smarter, the Retirement Goal Planning System App is available as a free download in the Apple Store for use by individuals and financial professionals. The App enables you to go through the seven step system detailed in Thinking Smarter to arrive at a thoughtful, prioritized list of goals in retirement. Retirees may find it beneficial to work with a financial professional, who can help translate goals into an effective financial strategy.

Thinking Smarter will be released on Tuesday, May 12 and can be pre-ordered at all major retailers.

For more information about the book, visit befi.allianzgi.com/en/retirement-goal-planning-system

About Allianz Global Investors

Allianz Global Investors is a diversified active investment manager with a strong parent company and a culture of risk management. With 23 offices in 17 countries, we provide global investment and research capabilities with consultative local delivery. We have $499 billion in assets under management (as of December 31, 2014) for individuals, families and institutions worldwide, and employ over 500 investment professionals.

At Allianz Global Investors, we follow a two-word philosophy: Understand. Act. It describes how we look at the world and how we behave. We aim to stand out as the investment partner our clients trust by listening closely to understand their challenges, then acting decisively to provide them with solutions that meet their needs.

About The Center for Behavioral Finance

The Allianz Global Investors Center for Behavioral Finance was founded in 2010 with the goal of turning academic insights into actionable ideas and practical tools that financial advisors and plan sponsors can use to help their clients and employees make better financial decisions. The Center carries on the Allianz Global Investors commitment to innovative thinking and seeks to stimulate dialog among business, government and academic leaders on financial issues of importance to the world at large.

Contacts:

Allianz Global Investors
Kelly Smith, 212-739-3505
Kelly.smith@allianzinvestors.com

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