Tag: financial behavior
Save. Budget. Spend less on takeout. “We know what we need to do,” financial behavior expert Wendy De La Rosa says. “The question is how to do it.” Consider one of the pandemic’s lessons for workers: it’s important to build up an emergency fund for a potential financial catastrophe. But how to translat…
Abstract This paper provides new evidence on how public policies affect individuals’ disposition of pre-retirement lump-sum distributions (LSDs) from pensions. The policies, enacted in the 1980s and 1990s, include changes in tax rates, penalties, withholding rules, and default options. Using data from the Health and Retirement Study, we find that each set of policies influenc…
