Abstract: A computer-implemented method for generation of a periodic bonus payment amount for a user that has a personalized income plan, comprising the steps of obtaining, by a processor, information about a paycheck spending plan for the user, including information about a current real amount of the paycheck, a user's investment portfolio, including an actual return on the investment portfolio and an expected return on the investment portfolio, storing the paycheck spending plan information in a computer memory; determining, by a processor, a two bonus payment options, based at least in part on the current real amount of the paycheck, the actual return on the investment portfolio and the expected return on the investment portfolio, wherein the bonus payment amount is determined to be the greater of the two options; providing to a user, via a user interface, information about the bonus payment.

Abstract: A computer-implemented method for generation of personalized income plan for a use, the method includes the steps of obtaining background information about the user, storing the background information in a computer memory, obtaining longevity information from the user via a user interface, storing the longevity information in a computer memory, determining an initial income plan for a user based on the background information and longevity information; determining one or more alternative income plans based on one or more personalized retirement plan options; presenting to a user, via a user interface that implements behavioral economics, the initial income plan and one or more alternative income plans, as choices for selection by the user of one of the income plans, storing the user's selected income plan in a computer memory and displaying a message, via a user interface, based on the user's selected income plan.

Abstract: A system, method, and non-transitory computer readable medium having instructions for determining a loss aversion score for a user. A gamble table comprises a plurality of gamble pairs. Each gamble pair includes a loss aversion gamble and a gain seeking gamble. A loss aversion coefficient for each gamble pair is determined. The gamble pairs are displayed in random order and user selections are received. The user selections include, for each gamble pair, one of the loss aversion gamble and the gain seeking gamble. The gamble pairs are arranged in an ascending order or a descending order based on the loss aversion coefficients and a transition among the user selections is identified. The transition is used to determine the loss aversion score. The loss aversion score depends at least in part on the loss aversion coefficient of the gamble pair associated with the identified transition.

Abstract: A system, method, and non-transitory computer readable medium having instructions for determining a loss aversion score for a user. A gamble table comprises a plurality of gamble pairs. Each gamble pair includes a loss aversion gamble and a gain seeking gamble. A loss aversion coefficient for each gamble pair is determined. The gamble pairs are displayed in random order and user selections are received. The user selections include, for each gamble pair, one of the loss aversion gamble and the gain seeking gamble. The gamble pairs are arranged in an ascending order or a descending order based on the loss aversion coefficients and a transition among the user selections is identified. The transition is used to determine the loss aversion score. The loss aversion score depends at least in part on the loss aversion coefficient of the gamble pair associated with the identified transition.

Abstract: A system, method, and non-transitory computer readable medium having instructions for determining an expected utility value of a fund for a user using a personalized loss aversion score. The expected utility value for a fund is determined, using the user's loss aversion score and the fund's possible outcomes, probability of each outcome and utility corresponding to each outcome. Expected utility values can be determined for a plurality of funds and the funds are ranked according to their expected utility values and the ranking is provided to the user.

Abstract: A system, method, and non-transitory computer readable medium having instructions for determining an expected utility value of an investment portfolio for a user using a personalized loss aversion score. The expected utility value for an investment portfolio is determined, using the user's loss aversion score and the portfolio's possible outcomes, probability of each outcome and a utility corresponding to each outcome. Expected utility values can be determined for a plurality of investment portfolios and the investment portfolio having the highest expected utility value is recommended to the user.

Abstract: A system, method, and non-transitory computer readable medium having instructions for determining a loss aversion score for a user. A gamble table comprises a plurality of gamble pairs. Each gamble pair includes a loss aversion gamble and a gain seeking gamble. A loss aversion coefficient for each gamble pair is determined. The gamble pairs are displayed in random order and user selections are received. The user selections include, for each gamble pair, one of the loss aversion gamble and the gain seeking gamble. The gamble pairs are arranged in an ascending order or a descending order based on the loss aversion coefficients and a transition among the user selections is identified. The transition is used to determine the loss aversion score. The loss aversion score depends at least in part on the loss aversion coefficient of the gamble pair associated with the identified transition.

Abstract: A method of identifying and prioritizing goals for retirement is provided. The method comprises obtaining by a computer a list of goals from a user to create a first list and providing a list of pre-selected goals to the user. The user's preferred goals are obtained by a computer from the list of pre-selected goals to create a second list and the first list and the second list are combined into a combined list. In the next step, the goals are prioritized by a computer on the combined list based on the user's preferences. A first question is proposed by a computer to the user and the user's response to the first question is recorded by a computer. The goals are reprioritized by a computer on the combined list based on the user's preferences.