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Shock news! Folk with no retirement plan don't worry
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FatherAbraham
Posts: 1,024 Forumite


From a review of Richard Thaler's latest (behavioural finance) book, "Misbehaving":
http://www.advisorperspectives.com/newsletters15/26-richard-thalers-misbehaving-and-implications-for-investors-and-advisors-3.php
A shocking finding was that having no retirement plan had no significant effect on self-assessments of financial well-being, even for those approaching retirement. Although there are other surveys where Americans express retirement concerns when prompted, this particular study indicates that such concerns don’t rise to top-of-mind naturally, reflecting the behavioral bias of being present-focused.
http://www.advisorperspectives.com/newsletters15/26-richard-thalers-misbehaving-and-implications-for-investors-and-advisors-3.php
Thus the old Gentleman ended his Harangue. The People heard it, and approved the Doctrine, and immediately practised the Contrary, just as if it had been a common Sermon; for the Vendue opened ...
THE WAY TO WEALTH, Benjamin Franklin, 1758 AD
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Given how few people in the uk had pensions before auto enrollment it isn't surprising.
And surprisingly, retirement is the one time americans can worry a little less as they will have both a SS pension AND for once, health care with medicare. We tend to forget with our NHS, that some people have to choose between taking their kids to the doctor/dentist or putting food on t he table.0
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