Tag: 401k
Behavioral economist Richard Thaler, winner of the 2017 Nobel Prize for economics, regards his field’s greatest contribution as showing that people are more likely to save if the saving happens automatically. “I’m all for empowerment and education, but the empirical evidence is that it doesn’t work,” he said in a 2015 Wall Street Journal interview…
The brief’s key findings are: The Federal Reserve’s 2016 Survey of Consumer Finances offers an opportunity to examine households’ holdings in 401(k)s and IRAs. For working households nearing retirement with a 401(k), median combined 401(k)/IRA balances rose from $111,000 in 2013 to $135,000 in 2016. While growing balances are encouraging, $135,000 provides only $600 per…
