Richard Thaler Quotes

The decision to incentivise savings for pension funds augurs well for infrastructure financing and retirement planning.

Workers are most likely to save for retirement if they have access to a workplace savings plan and are automatically enrolled in that plan.

A 401(k) is essentially a basket of mutual funds intended to help people save for retirement.

Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement.

Increased awareness and education could be a great help toward improving spending and saving habits and increasing participation and contribution levels to retirement plans.

Employer contribution pension plans have become increasingly popular throughout the past two decades.

Automate your savings so that you have money taken directly from each paycheck and deposited into a 401(k) or other workplace retirement account. If that's not an option, automatically have money transferred out of checking into savings each time you get paid.

Social Security is an insurance policy. It's a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we're contributing all go into a Social Security pool, or should half go into a mandatory savings plan?

Voluntary personal savings accounts would enable future retirees to harness the power of the marketplace when saving for their retirements.

Starting a new retirement plan for those below a certain age is something tens of millions of Americans have already been through at work.

A well-designed 401(k) plan is an enormous competitive edge when recruiting and retaining employees.

It is never too early to encourage long-term savings.

Use visual cues to prompt yourself to put away more. A photograph of the beach house where you and your husband can envision spending your retirement will remind you to bump up the contribution to your 401(k); a snapshot of your child in a college sweatshirt can encourage you to put more into a 529 college savings plan.

It is true that a population which is growing older needs to save, but the question is in what form the savings are made.

It has long been said the only things in life that are certain are death and taxes. Automatic enrollment for insurance of 401k loans would add an additional certainty. Fewer Americans would suffer the unnecessary loss of retirement savings due to unanticipated and untimely misfortune in an already stressful time of need.

If employed by employee stock ownership plan companies, working Americans can spend less time worrying about job security and retirement savings and enjoy a clearer path to prosperity.

Whatever your income level is, save as much as you can - up to 20 percent, but more if you can - and invest it. Put that into an IRA; put that into a brokerage account.

I favor every worker having access to a retirement savings account, and there are various options for doing this. I do support states implementing their own plans, and I expect them to play an important role in increasing retirement savings for young professionals especially.

I can't retire.

What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.

I have a fear of poverty in old age. I have this vision of myself living in a skip and eating cat food. It's because I'm freelance, and I've never had a proper job. I don't have a pension, and my savings are dwindling. I always thought someone would just come along and look after me.

From the time I was 8 until now, I've been working. My Social Security is looking solid.

We promote domestic savings by also things like the personal accounts associated with the president's Social Security initiative, which over time would generate more savings.

Since Social Security faces a large gap between what it promises younger workers and what it can afford to pay them, private savings will likely need to play a larger role in retirement planning for younger workers.

We need to build on the success of Social Security by developing bold and innovative ways for Americans to build wealth and save for retirement. I believe we can work together in a bipartisan manner to accomplish these goals.