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Behavioral Economist Richard Thaler on the Key to Retirement Savings

If an economist can give us 10 reasons why it’s crucial to save for our retirement, a behavioral economist can give us 100 reasons why we still don’t. Richard Thaler, a professor at the University of Chicago Booth School of Business, and author of “Misbehaving,” a new book about the creation of behavioral economics, credits this once-maligned offshoot of economic science with helping millions of Americans save for retirement. But he is deeply concerned about the many others: those who, for whatever reason, choose not to squirrel away the money they’ll need in old age. ….[READ]

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