Justin Taurog: Why we are not all built for risk

Deloitte believes UK savers will have to, on average, find an additional £10,000 each year until retirement if the nation is to meet a growing ‘savings gap' that could hit £350bn by 2050. However, there is a deep-seated psychological reason for our inability to process risk, and it has implications for both advisers and providers and the way they approach retirement advice and product design.  The author Michael Lewis is probably best known for his book about the 2008 financial crisis, The Big Short, but his most recent work is more directly relevant to the way advisers speak to clients ...