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- เผยแพร่เมื่อ 22 ก.พ. 2012
- www.ted.com It's easy to imagine saving money next week, but how about right now? Generally, we want to spend it. Economist Shlomo Benartzi says this is one of the biggest obstacles to saving enough for retirement, and asks: How do we turn this behavioral challenge into a behavioral solution?
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It was never meant to be funny, and I simply couldn't stand people joking about his accent. They say "be the change you want to see in this world", so I tried my best. Being mean does nothing to improve the world, but every speaker on TED are trying their best to do something for the world. I find it pointless to dwell on such trivial details of a person and to deter from the content the person was trying to present.
Finally, a voice of reason in a sea of idiocy.
Thank you Ivy, for your wise input!
Hit the nail on its head. What a bunch of morons.
Just had dinner and watched this TED seminar from beginning to end. It talks about "behavioural finance on steroids". In this presentation, Shlomo Benartzi taught about stuff that left me understanding more about how I have acted in the past. More than that, he opens the door to a new (at least new to me) way of thinking that has the potential to be applied in areas well beyond what was discussed. Inspirational.
Great talk Shlomo. Very inspirational
Thanks a lot.
I've been to alot of funerals in the past couple of years and not to many lectures about the deceased have included the description about how much money they saved that made their retirement "Cushy". The talk is usually about the content of their character that formed an honorable and redeemable legacy.
I work with seniors every day and the biggest problem is they saved for so long they don't know how to distribute their money efficiently. they leave it in the market and let it drop and worry.
Thanks Shlomo.
'Superannuation', which is the Australian equivalent of 401k, is taken out of your pay cheque before you get it. It is a percentage of your pay so contributions go up as you get a raise. Its compulsory and you can't opt out.
It surprises me that he hasn't referenced this, as it works, extremely well.
Great talk!!
Great video
I really like TED videos
Interesting but it just sounds like Superannuation we have here in Australia.... the SGC (Superannuation Guarantee Contribution) currently at 9.0% and is likely to increase in the near future. It's a great system for retirement savings.
Nice speech Mr.Goldstone
Thinking more about behavioral finance these days. Chris Cahill, what do you think of this TED?
@Hannesexy That forgets that by saving money you are investing in 401ks which purchase stocks in companies. Buying company stock is investing in companies and this helps them to grow but makes them more accountable then mere spending on products. Thus this is a win win solution...besides we will still spend on products but the companies will have to be more competitive to earn those dollars from us. Competition breeds value and quality.
He reminds me Dan Ariely
This video is very accurate and interesting. However, 401(k)'s are no longer a valid retirement plan due to taxes, penalties, fees, and limits to contributions and payouts. You can get one, if you want to lose half of it when you retire.
Mutual Fund is much better than 401k,
401k's have changed, many have mutual funds and other categories you can invest in. I do prefer Roth IRA, but if your company has a 50% or greater match you should contribute up to the match and then contribute to a Roth IRA.
@dooovde apparently it does in some countries
The best one
Wisk Taking
@sirvalet
the extra money would have come from many different avenues i dont really know about the Oxford economy but in general:
the UK GDP has doubled over that time.
Banks from other regions of the UK and internationally moved their assets to Oxford.
from somewhere else.
40 years ago the demand on housing was less. people did other things with their money.
I need to find out if there is something like this 401K plan in the UK or S.Africa....I save but get overwhelmed by what accounts to place savings in.
Dr. Evil's benevolent brother.
Great talk. Thanks Shlomo.
Amazing Shlomo. Sincerely thanks, greetings from Argentina.
The Federal Reserve also discourages saving by price fixing interest rates at 0%. Saving is like dieting it is hard and people put it off, they promise they will start tomorrow, after this bag of chips, at new years, always next time etc You have to start NOW. You cant wait until you are 900 lbs before starting to diet or wait until a week before retirement to decide to save.
Very informative video thank you very much.
I find it sad that the topic comments have nothing to do with the content of the video.
@Blurns "Release Rodderick" would be pretty good as well.
I don't particularly feel like he explained his program as clearly as he could have. So is it just getting money taken out of every paycheck before you see it? Or is there something more that I'm missing?
@Cr4zyHunt3r Oh my... you're right. The Organ donation ....
Funny that he has a book coming out in April....
This definitely made me stop and think! Interesting points.
@freesk8 I don't have any gold to buy for one and two, Everybody dies, everybody. Surviving to a point without a point is useless. The music is playing regardless of what I say and do and what you say or do....Start dancing or hate the music, it's you're choice.
@georgemargaris But, but I like the sound of a jet-liner crashing through my window.
OMG It's Kripkie from The Big Bang Theory:p
@artifactingreality Did you go through the whole clip without realising you have a choice to quit?
This was a hard talk to watch. Somehow I can't take people who pronounce the R as a W seriously. But I sat through it and found it very interesting.
Interesting. Many should watch more of this videos more often especially when they want to get out of the rat race.
Thank hod this is a video on TH-cam or I would get s f in business my school computer buffers too much
@sirvalet As long as the loans are not flaky, the banks are actually increasing the value of the currency.
How do I feel about whisk-taking? I don't know fwankly.
Comment from russians users: Полезные мысли. Стоит послушать. Объяснил просто и подробно, с примерами. Актуально и для России.
I have an over whelming urge to hear him say "Marriage".
jeff nunn you are funny!!
@Truthiness231 Well whether or not things are more expensive someone who saves would still undoubtedly be in a better position than people who did not save.
To me this whole issue is confusing because I hate buying things and don't really comprehend why anyone enjoys spending money lol. This puts me at a disadvantage since the psychology of it is not at all intuitive to me :P
tomowwo
Tomowo
But if we save and our savings are used on the secondary stock market for example...won't our savings translate into reduced demand for goods and services and thusly collaps the economy eventually?
The answer is dont think about it
@hazeee123 That's not entirely true. Inflation was 2.9% in 2011. You can get anywhere from 0.9% to 2% interest on a savings account. So your money would be losing between 0.9% to 2% in value annually. Savings accounts are insured and carry no risk. US Treasuries are actually worse right now. But you can get about 1% above inflation from Brazilian bonds. So you can still save, if you look for the right investment. Even if you lose %1 in value, it's better to have money in retirement than junk now
my 401K has this feature to increase contribution rate automatically every year.
@floritaka when you can spell, we'll give a hoot about your opinions.
@twistedf4te do you read robert kiyosaki's books?
Very good talk, very insightful.
But I still grinned at "pwocwastination".
I'm sorry...
This is all geared to people working at salary jobs at fairly large corporations that can provide saving plans. What about folks who spend by investing in starting a company? They risk to try to make more, but doesn't always work out.
call me crazy, but I'm pretty sure this guy also does vocals for Group X... Shifty five?
he sounds like sheldons enemy in work
@Spencerianism Can I buy your gold? :)
Ever hear the fable of the ant and the grasshopper?
The grasshopper dies and the ant survives.
I plan to survive.
But thanks for the nice music! :)
@Blurns Da solution is FRIKEN LASER BEAMS!
who manages 401(k)s and what is the money invested in?
@Blurns brilliant hahahahahahaha
@siggyboss That's an oversimplification, also I'm not sure what you mean about "giving away organs for free" you mean the dead person wants money for their organs?
In any case if 12% of Germans checked the box then at least 12% read it and understood what they were doing. In Austria you can then guess that at least 12% would read and understand and yet only 1% check the box. Basically people have a bias towards the default option and people do want to give organs and don't want to not give them
@TheFartoholic I have watched a number of these, not all of them but a lot i would say. Do feel there are others that are BS?
I always cringe at spending becuase it takes money away from my savings.
I would definitely eat bananas-now and next week too!
Wall Street did so badly this week. My account look bad
@Blurns Release Roger.
Or wibbons
Ted!?
@MzeeMoja1 Your name is Shlomo Benartzi right?
got a friend. makes slightly less then twice as me. works more then twice as much. never has any money. i on the other hand........
Some people dont save bc they dont make enough.
I had to watch this video for a school assignment eww ughghghgh
@BaileysBeads honestly, I have no idea why you people make such a big deal out of it.
Problem is if you make minimum wage to about 40k and you have access to 401k you won't be able to save much.
@guimvalente91 you mean Kripke
Mawwaige. Mawwaige is what bwings us togevah today
I didnt understand!
@JusticeVonBrandt Way to fixate on a comment made at the beginning and missing the point.
@Blurns
lolz
My problem with saving (which is and isn't related to what he's talking about):
The upper class can easily save more than me and still consume more than I could even if I didn't save. I'm quite concerned, given the position the world is currently in, that there won't be resources left to buy with the money I save once it comes time to save it (at least certainly not for the price I'd be able to afford, even if I did bother to save). It's a problem with the future alright, but it's via pessimism
@erikofthenorse He is both foreign and has a speech impediment. I know people who talk similarly; they still substitute the 'w' sound in their native language and also in english.
@erikofthenorse
Based on his name I'm assuming that he's from Israel. If people actually looked him up, they would know that he's a professor @ UCLA...which is a very nice university.
Oooooo
As a pensioner, I don't have any money to save. It all goes toward bills, food, medicine, etc. This is obviously for profligates who have jobs, a smaller & smaller audience, indeed.
@Spencerianism I agree. I personally do not trust saving because the rate of debt that the government is acquiring makes it seem inevitable that within the 40ish years between now and my retirement the value of currency will be a fraction of its current value, and therefore saving currency is pointless.
His idea is basically if you don't want to give a little bit of your salary, give me a little bit of your raise, and that's supposed to be innovation....
>Go to TED.com
>See video I want to watch
>Potato quality
>Find same video on TH-cam
>Watch like a normal human being in 480p
@georgemargaris not taking it too seriously. just throwing my two cents out there. i found it disrespectful. regardless if he is an economist or not.
This sounds trivial, but I think it would work. We really are that stupid. :P
Nice walk..oops.. i meant talk...
@SuperAtheist
Why? 5/6ths of people choose solely on the easier option.
@gotohellgooglization Why do you think he's referring particularly to the US? The banking system is not as screwed up as it's in the US everywhere in the world...
@Crazylalalalala I am not a lawyer, I am engineer. I live in Oxford where 3 bed house costs £300.000. 40 years ago it was £50k. By taking inflation into consideration the present price should not be higher then £70k. Average salary increase can be linked to inflation ratio, property price - not. Surprisingly there are still property buyers in Oxford. If conspiracy theorist description is not correct, then maybe you will be able to tell me: where this extra money is coming from?
@earlyAMbirds I see, that's "your" choice, because clearly by saying "we" you're assuming there is a group that share the mind set in giving more importance to spelling in a informal forum than the actual information.
Nothing per se but that tomorrow will come and then the people that didn't prepare tend to demand the fruits of the people who worked hard, saved and prepared. Also less people saving and investing = less risk taking and by proxy innovation and wealth for everybody in the system.
自分用
10:36
@Hannesexy conspiratory? what could be any less conspiratory?
@hazeee123 That is because the US is devaluing the dollar to inflate its way out of debt.
Tumodou.
What is wrong with living the present and not save for a tomorrow that might come or not, that might bring money loss or not ?
@erikofthenorse Not only children act this way. It more like, rude or ignorant people. But not children