Using commitment devices to save and invest with some lessons from Odysseus

The lack of self-control is one of the main reasons many fail to save for retirement or a rainy day. We get our paycheck and on our way home from work we stroll by our favourite mall and treat ourselves just a bit – this is at least what we tell ourselves. Some buy thoseContinue reading “Using commitment devices to save and invest with some lessons from Odysseus”

The Dunning-Kruger effect and retirement saving

The first rule of the Dunning-Kruger club is, you don’t know that you’re a member of.   A Slovenian news portal ran a terrific article the other day that also featured an interview with professor David Dunning, who together with Justin Kruger discovered the behavioral bias known today as the Dunning-Kruger effect. The effect was describedContinue reading “The Dunning-Kruger effect and retirement saving”

COVID-19 lessons for retirement saving

The reasons why most people, from the average Joe, to experts and politicians, initially did not take the coronavirus COVID-19 seriously are largely the same, as the reasons why most still do not take climate change seriously, exercise regularly or save for retirement. We can look for the culprits in an intertwined web of behavioralContinue reading “COVID-19 lessons for retirement saving”