Shlomo Benartzi: Saving for tomorrow, tomorrow

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There's a difference between knowing you should save and actually doing it. "We think about saving," says economist Shlomo Benartz in his TED talk. "We know we should be saving. We know we'll do it next year, but today let us go and spend ... This issue of present bias causes us to think about saving, but end up spending."

As a result, just one-third of Americans end up saving in a 401(k) retirement plan, he reveals — and only 10% of Americans are saving a sufficient amount for the future.

Benartz delves into the why of our decision not to plan for the future. He identifies the behavioral challenges that prevent people from saving, and then discusses how to flip these behavioral challenges into behavioral solutions.