DENVER -- Investors set faulty retirement goals by thinking too quickly, narrowly and shallowly, according to well-known behavioral economist Shlomo Benartzi.

To address this problem, Benartzi, a professor and the co-chairman of the Behavioral Decision-Making Group at the Anderson School of Management at the University of California at Los Angeles, has developed an app that allows financial advisors to use a seven-step system to help clients set better goals and improve financial planning around those goals.

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