Show people a rendering of what their face might look like at 65 and they increase their savings by 33%

Yep, you read that right. A study found that working age American’s would increase their retirement savings by 33% (50% in another study) if shown a rendering of what they might physically look like at 65 versus those not shown a rendering. Here’s the full article: http://www.financial-planning.com/news/retirement-planning-boomers-facing-the-facts-2675948-1.html

ING Direct’s Personal Finance Talk Replay

Also, a number of readers emailed asking if there would be a replay of the Personal Finance Chat hosted by ING Direct Canada last week. To recap, it was a panel discussion with myself, Ellen Roseman, Dan Bortolotti and Rubina Ahmed-Haq. They have provided a link to watch the replay for anyone interested: http://www.ingdirect.ca/personalfinancetalk/

As you can see from the picture below, big words make Dan fall asleep.

Preet Banerjee
Preet Banerjee
...is an independent consultant to the financial services industry and a personal finance commentator. You can learn more about Preet at his personal website and you can click here to follow him on Twitter.
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Showing 4 comments
  • Canadian Couch Potato

    Well played, Banerjee. Well played.

  • Ken

    So, the first agenda item is any class on personal finance should be to show participants under 30 a picture if themselves at 65. I love it!

    • Preet

      Not a bad idea Ken – then show them how much they might buy a house for and compare that to how much they will pay in interest for it.

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  • […] Banerjee from Globe & Mail, CBC fame and more, told us on his blog:  showing people a rendering of what their face might look like at age 65, might help them increase th… Kinda interesting but kinda weird news as well.  Preet, how do you find this stuff?  Readers, […]