10/23/2015 – Why Is It So Hard To Save? U.K. Shows It Doesn’t Have To Be (NPR)

Oct 23, 2015 Comments Off by

Many people in the U.S., of course, feel this way too: I can’t afford to save. I have student loans. I just don’t make enough money. And these are very real problems. Wages have been stagnant for decades — especially in recent years since the recession. But if you take someone like Bloomfield and enroll him automatically in a retirement savings plan — he doesn’t do anything at all; pretax money just starts coming out of his paycheck — odds are overwhelming that he’ll keep saving even though he thinks he can’t afford it. That’s exactly what’s happening in England. Bloomfield’s employer will soon be required to enroll him — unless he opts out — but it hasn’t rolled out to all employers. The law is being phased in right now.

Read the full article in NPR.

Financial Landing 2015

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