This guy is probably the most prominent active researcher in this field (believe Kahneman has retired). Several of his papers are being questioned.
His work is a backbone of the whole "nudge" movement. For example, make people opt out of 401k contributions rather than opt in, etc
Link: https://www.science.org/news/2021/08/fraudulent-data-set-raise-questions-about-superstar-honesty-researcher
(no message)
Americans...we need action...immediately.
As for Mr. Ariely...he needs to open his kimono and do some 'splaining'.
Link: https://www.cbsnews.com/news/states-step-in-to-prod-reluctant-retirement-savers/
And eventually the government won't be able to bail everyone out either.
much less defined pensions...they have low to minimum wages...can barely pay the monthly bills, and have no 'discretionary' funds to invest for the future...that's the current market situation...i.e. status quo...I could be wrong here, but it seems as though the only entity that can make a positive difference is...wait for it...the 'gummint'...state and federal. How this shakes out is unclear, but some leaders (on both sides) have shown, there is a "Will" to do something about it.
BTW, companies like Amazon aren't really helping those folks...their business model accepts extremely high front-line staff turnover rates (approaching 100%/yr) due to low wages and intense conditions...the concepts of profit sharing and employee growth aren't uppermost in their minds.
If corporations refuse to fairly 'share' the profits made possible by their employees, then the only other avenue for resolution appears to be government action. As I've mentioned a few moons ago, I worked for a company that did have the 'ethos' of "Sharing"...big time...and they were very successful. I'm hoping that incentives can be created that make as many companies as possible 'see' the benefits of sharing (low turnover...high morale...higher profits)...typically, that 'incentive' is clothed in a new tax package, geared to produce the desired outcome.
I very much welcome any and all alternative views/suggestions.
(no message)
do the 'right things'...i.e. share profits with employees...so that the disturbing current situation is markedly improved. I don't want government running another program...but since the status quo isn't inclined to act appropriately, then the only way change happens is if government 'prods' the system to change. I'm not expecting retirees like myself to end up footing any bills, nor do I want to see families with incomes under $400K participating...btw, I believe the article touches on the points I made.
Any comments on that?
(no message)
(no message)
It is paying out more than it takes in. The “trust fund” is actually a parcel of IOUs, so it is almost comical to talk about it as a real asset. What is going to happen over the next few years is that these hidden IOUs are going to appear on our publicly held debt. We are going to borrow money from the Chinese to pay SS checks. The whole edifice will eventually collapse when our debt/GDP ratio gets to a level that finally leads the world to vomit out all of its dollars.
We can’t even fix our 100-year-old entitlement and yet Democrats constantly roll out brand new ones. It’s a frustrating situation for anyone with basic math skills.
the one I gave you, which clearly describes plans for "Auto-IRAs" that states prefer to contract out to financial firms...you know,..the open market...not a government run operation.
Sheesh!...read the article and get back to me.......or.......just continue on with your pre-cooked screed....that goes for you, too, Cheeks.
And the idea that it won't effect people making less than $400K is a fairy tale as well.
People like me who "paid themselves first" investing early in 401K and Roth, driving shitty cars in my 20s and 30s, living with our means. We won't get the SS we've paid into, I am sort of okay with it as I never expected it to survive into my retirement years and planned ahead. But my original question to Tyrone and his answer doesn't seem to jive with reality. A lot of retirees who don't consider themselves "rich" will be shocked and appalled.