The Power of Suggestion
PG Calc was thrilled to have Russell James, Professor of Personal Finance at Texas Tech University, as a recent guest presenter in our monthly Webinar series. During his August 28 session, Prof. James discussed fascinating results from his survey of over 5,000 subjects. The survey tested reactions to different descriptions of specific gift plans. His conclusion: The words we use to describe planned gifts and their benefits matter. In particular, “family” words, such as “make a gift,” triggered a more positive response from participants than formal words, such as “make a transfer of assets.” Prof. James buttressed his survey findings with theoretical research performed by him and others, showing that there is neurological, biochemical, and demographic evidence that corroborate his survey results.
