How Employers in Poor Countries Are Using Nudges to Help Employees Save Money One of the most common ways to get people to save is through their employer. In particular, behavioral economics—that marriage of economics and psychology that has put … Continue reading The default enrollment
Will You Outlive Your Money? Methuselah was lucky. The Biblical stalwart lived 969 years without any reported money worries. Like him, many Americans now survive to an advanced age—although nowhere near the record set by the man who might have … Continue reading The fear of living longer
Use behavioral finance to put worried clients at ease It may seem counterintuitive to some advisers, but clients both want and need to be told that they’re wrong, according to Paul Blease, the director of OppenheimerFunds CEO Advisor Institute. Clients … Continue reading Behavioral manipulation
How to Trick People Into Saving Money Late last summer, Dawn Paquin started keeping her money on a prepaid debit card from Walmart instead of in a traditional checking account. The wages from her factory job—she works from 9 p.m. … Continue reading Alluring for poor people
Is It a Nudge or a Shove? Even Experts Can Blur the Lines This morning I woke up at what felt like 7:20 A.M., and enjoyed not feeling both under-slept and already late. Instead, I had the great pleasure of … Continue reading Is Daylight Saving a good nudge?
How Virtual Reality Can Boost Retirement Savings What if you could travel into your own future to see what your life will look like in 20, 30 or even 40 years? Well, it turns out that virtual time travel may … Continue reading Connecting with your future self
Can Science Make People Save Money? Friday afternoon is one of the busiest times at RiteCheck, a 24-hour check casher in New York’s South Bronx. At the register, Dayana Machin, 29, jokes with customers as she runs their checks through … Continue reading How to turn check cashers into savers