Overcoming behavioral obstacles in saving for retirement

03/29/2012 | AdvisorOne

Automatic enrollment in 401(k) plans and higher deferrals timed to coincide with pay increases are two methods to overcome common obstacles to saving for retirement, says Shlomo Benartzi, UCLA professor and chief behavioral economist at the Allianz Center for Behavioral Finance. Benartzi also favors target-date funds and contracts in which workers agree to step up deferral rates in the future.

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