Summary of Saving for Tomorrow, Tomorrow

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Saving for Tomorrow, Tomorrow summary
Like most Americans, you’re probably not saving enough. Behavioral finance might explain why.

Rating

8 Overall

9 Applicability

8 Innovation

7 Style

Recommendation

In this TED lecture, behavioral economist Shlomo Benartzi applies his expertise to explain barriers to saving and to craft a solution. His Save More Tomorrow program has proved so effective that about 60% of big companies have adopted similar savings plans, and it’s now part of the Pension Protection Act. getAbstract recommends that investors watch this video to gain smart financial advice.

In this summary, you will learn

  • How behavioral finance helps explain people’s money mistakes
  • What human tendencies prevent saving for retirement
  • How the Save More Tomorrow program overcomes these challenges
 

Summary

People don’t always manage their finances logically. Many Americans buy larger homes than they can afford but blame the banks when they can’t make the payments. Investors love taking risks in the stock market when it’s climbing but aren’t emotionally prepared for losses. Adults tend to buy extended ...
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About the Speaker

Shlomo Benartzi is a behavioral economist and a professor at the UCLA Anderson School of Management.


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    Chinyere Nwude 2 months ago
    This makes for an interesting read!
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    Rungnapa Phanomkate 3 years ago
    I agree with wording “Self-control is not a problem in the future” but happen in present with bias. Some people view saving for retirement as a loss of spending power in the present. Save More Tomorrow program is for everyone in the world who would like to make life better in present and future.

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