Thinking about the future

The Two Biases That Keep People From Saving Money

That Americans don’t save enough money is a truism. But why don’t they? The answer is a complex mix of macroeconomics (incomes have stagnated for many workers over the last few decades), culture (Americans are notoriously conspicuous spenders), and policies (two-thirds of workers are at companies without retirement plans). But another variable is the challenge of giving up the gratification of immediate spending for the security of future savings. ….[READ]

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