Did you know that Americans have a preference for certain numbers, and in particular the number zero? This may seem like a harmless fact, but this odd quirk of human behavior could be very costly.
The problem, according to recent research: Some people with a bias toward zero are choosing the wrong target date funds in their retirement accounts and are exposed to the wrong level of risk because of it. This zero bias has also caused others to make a pick that exposes them to more risk and thus earn better returns (but that won't always work out).
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