A Quote by Sheena Iyengar
Like, people are less likely to invest in their retirement when they have more options in their 401K plans than when they have fewer.
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Everyone's lost a lot of money on their 401k plans. I've heard some people calling them 201k plans. So it's even more important to get people to be saving more for retirement. Behavioral economics has helped us learn a lot about how to do that.
People were actually 6 times more likely to buy a jar of jam if they had encountered 6 than if they encountered 24, so what we learned from this study was that while people were more attracted to having more options, that's what sort of got them in the door or got them to think about jam, when it came to choosing time they were actually less likely to make a choice if they had more to choose from than if they had fewer to choose from.
Also if they choose from more options than fewer options they're less satisfied with what they choose and that is true whether they're choosing chocolates or which job offer to accept.
There are times when the presence of more choices can make us choose things that are not good for us. For me the clearest example is that the more retirement fund options a person has, the less likely they are to save for their old age.
The more adaptability exists for a given kind of decision, the less risky it is to make plans for the future, and therefore the more likely it is that more people will make more plans in such areas.
People will make worse financial decisions for them if they're choosing from a lot of options than if they're choosing from a few options. If they have more options they're more likely to avoid stocks and put all their money in money market accounts, which doesn't even grow at the rate of inflation.
Forty is ... an age at which people have histories and options. At thirty, they had perhaps less history. At fifty, perhaps fewer options.
Investing intelligently in those of us who are marginalised means fewer people in jail, fewer homeless, fewer unemployed, fewer of us who are forlorn and depressed, fewer people addicted to things that drag us down... Because as we invest in those that do it tough, we will see more Australians taking pride in themselves, having realisable dreams and aspirations and making their own positive contribution to the world's greatest nation.
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.
It has long been said the only things in life that are certain are death and taxes. Automatic enrollment for insurance of 401k loans would add an additional certainty. Fewer Americans would suffer the unnecessary loss of retirement savings due to unanticipated and untimely misfortune in an already stressful time of need.
Voluntary simplicity means going fewer places in one day rather than more, seeing less so I can see more, doing less so I can do more, acquiring less so I can have more.
Democracies should be a delirium of choices - more options, not fewer; more avenues to travel, not fewer.
Absolutely invest in retirement. You can always get a loan to get kids through school. I do not know of any loans to get you through retirement. The markets are seriously low from where they were (even though they've gone up 30 percent recently). Now is the time to be dollar cost averaging; the more money you put in, the more shares you buy. Save for your retirement, people.
We have to use all of America's strengths to build a world with more partners and fewer adversaries, more shared responsibility and fewer conflicts, more good jobs and less poverty, more broadly based prosperity with less damage to our environment.
Many young women are less whole and androgynous than they were at age ten. They are more appearance-conscious and sex-conscious. They are quieter, more fearful of holding strong opinions, more careful what they say and less honest. They are more likely to second-guess themselves and to be self-critical. They are bigger worriers and more effective people pleasers. They are less likely to play sports, love math and science and plan on being president. They hide their intelligence. Many must fight for years to regain all the territory they lost.
The current institutionally provided retirement plans will not cover people's needs upon retirement.
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