Summary of Saving for Tomorrow, Tomorrow

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8 Overall

9 Applicability

8 Innovation

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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 and
  • How the Save More Tomorrow program overcomes these challenges.
 

About the Speaker

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

 

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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    JORGE ANDRES CAÑON SIERRA 1 year ago
    En Colombia tenemos un problema cultural, el cual consiste en la inmediatez y facilismo; una programación que viene de dos generaciones atrás que nos ha hecho mucho daño social.

    Para empeorar las cosas, por todos los canales nos lavan el cerebro con la idea "...lo puede comprar ya...", con lo cual empieza la carrera de ratas con la tarjeta de crédito. Mi madre que es de perfil financiero conservador, me enseñó a ahorrar, a pagar lo que debo, a proyectar, a saberme endeudar y a controlar mis gastos. El resultado, una vida equilibrada, una persona que hace realidad sus suelos de estudiar, viajar y comparar cosas que le gustan.

    Si en su casa no le enseñaron finanzas personales, no se preocupe, nunca es tarde. Debe aprenderlos por el bien suyo principalmente, el de su familia y el de sus hijos. Controle su ambición, eso nos diferencia de los animales.
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    Chinyere Nwude 2 years ago
    This makes for an interesting read!
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    Rungnapa Phanomkate 4 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.