man with head against the wall You can help employees save more by reframing the terminology you use and timing communications to better help them so they won't be doing this at year's end. (Photo: Getty)

We're going to talk about loss aversion in a moment. But first, let's look at an example of it.

It's that time of year for various ailments. Cold, flu, post-nasal drip, you name it, folks get it. These annoyances wreak havoc on planning. You're really looking forward to go see the premiere of that smash hit movie, but the aches and sniffles make you want to stay home and rest. Here's the real-life paradox that arises from this situation. No matter how bad you feel, if you've already bought your tickets, you're going to the movie. If you haven't bought those tickets, you're staying home.

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Christopher Carosa

Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).