When it comes to estimating the benefits of long-term savings, many people rely on their intuition. Focusing on the … domain of retirement savings, we use a randomized experiment to explore people's intuition about how money accumulates over … time. We ask half of our sample to estimate future consumption given savings (the forward perspective). The other half of …

We quantified the relative importance of the precautionary motive in determining savings. Existing empirical evidence … suggests that the impact of precautionary savings is small if one uses a subjective measure of uncertainty about next year … variation. These studies find a large impact of precautionary savings. These contradictory results may be either suggestive of …

expenditure. We find support for these predictions in three field experiments that randomly assign reminders to new savings …

. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …

Precautionary savings have often been analyzed with regard to its impact on current savings. This work focuses instead … on the impact of uncertainty on savings under bequest form. We thus turn the focus on estimating whether and to what … extent income variability does have an effect on post-mortem savings. We approximate the post-mortem savings with the closest …

The so-called retirement-savings puzzle is a phenomenon by which, contrary to what the basic life-cycle model predicts … that attempts to solve the retirement-savings puzzle and, in addition, we review more extensively the literature on housing … Nakajima and Telyukova (2011), who find that homeownership interacts with the factors that explain the retirement-savings …