In a recent survey of more than 5,000 adults by GoBankingRates, older taxpayers were the most likely to say they planned to save their tax refund. “When you finally hit the milestone birthday, you’ll have an action plan in place, a commitment to do it and the motivation to follow through,” Berman says. Then, put the action plan on your calendar for the week or so before your birthday as a reminder and nudge yourself again a couple of days before, and on, the actual day. “Your future self almost seems like another person, one who is removed from today’s temptations and will make perfect life choices.” “People are much more likely to make decisions and plans for their future selves,” says Berman.

Behavioral economists call this pre-commitment.

How to hack it: In the months and weeks before a milestone birthday, make a short list of specific financial tasks you want to be actively working to accomplish by that age. The conclusion, says Berman, “When you call out a pivotal age, even if it doesn’t end in a zero, people feel the need to make meaningful changes in their lives.” Out of some 75,000 homeowners who saw the ads, more than twice as many clicked on the age-specific one, which drew an overall response rate more than five times the norm for Facebook. Are you ready for retirement? House sharing can help.” The other ad began instead with a reference to a specific birthday - saying for example, “You’re 64 turning 65.” To attract homeowners to Silvernest’s service, researchers designed two Facebook ads. In an experiment with Silvernest, a company that matches older homeowners who want extra income with potential renters, Common Cents built on earlier research showing that people are more prone to engage in life-altering behavior as they approach a new decade.

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