A Quote by Richard Thaler
When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out.
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Workers are most likely to save for retirement if they have access to a workplace savings plan and are automatically enrolled in that plan.
The simple index fund solution has been adopted as a cornerstone of investment strategy for many of the nation's pension plans operated by our giant corporations and state and local governments. Indexing is also the predominant strategy for the largest of them all, the retirement plan for federal government employees, the Federal Thrift Savings Plan (TSP). The plan has been a remarkable success, and now holds some $173 billion of assets for the benefit of our public servants and members of armed services.
Yes, your kids should go to school. No, you shouldn't bankroll their degree whatever the cost. You've spent your life creating a sound financial plan; don't upend it by suspending your retirement savings or taking out a home equity line of credit to pay for a pricey college.
I favor every worker having access to a retirement savings account, and there are various options for doing this. I do support states implementing their own plans, and I expect them to play an important role in increasing retirement savings for young professionals especially.
Social Security is not a retirement savings plan; it is a social insurance program. It's a contract that says, as a society, we will look out for you and your family when you can no longer work.
Companies have told us that they have employees who are near retirement age. We created a $5 billion reinsurance pool to help them bear the cost of those employees on the brink of retirement.
Rather than assuming Terms of Service are equivalent to informed consent, platforms should offer opt-in settings where users can choose to join experimental panels. If they don't opt in, they aren't forced to participate.
Social Security is an insurance policy. It's a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we're contributing all go into a Social Security pool, or should half go into a mandatory savings plan?
At the heart of Erisa is the requirement that plan fiduciaries act with an 'eye single' to funding the retirements of plan participants and beneficiaries. This means investment decisions must be based solely on whether they enhance retirement savings, regardless of the fiduciary's personal preferences.
The easy way out is to approve an early retirement plan one year but not pay out sick and vacation time to deserving employees until three years later. Unfortunately, later is now.
Americans should be able to enjoy a secure retirement after a lifetime of hard work. But too many Americans reach retirement without enough savings to supplement their Social Security benefits.
Dropping out of college was never the plan, but it made me eligible for the Peter Thiel Fellowship. I was the first Asian to win that grant!
During the Enron debacle, it was workers who took the pounding, not bankers. Not only did Enron employees lose their jobs, many lost their retirement savings. That's because they were at the bottom of the investing food chain.
Retirement savings is probably behavioral economists' greatest success story. It is a prototypical behavioral-economics problem because saving for retirement is cognitively hard - figuring out how much to save - and requires self-control.
Automate your savings so that you have money taken directly from each paycheck and deposited into a 401(k) or other workplace retirement account. If that's not an option, automatically have money transferred out of checking into savings each time you get paid.
The player option allows me to, hopefully, sign a lucrative deal in my prime, before retirement. If you're in a situation where you've played to a level where you can make more money, then you opt out and you make more money. And if you play really poorly, then you opt in and take the money that's scheduled to be on that piece of paper.
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