Studies show you are not alone if you are having a hard time summoning the willpower to delay gratification today to promote a more comfortable retirement down the road. This can be hard to do, especially if retirement appears to be a long way off.
To help combat this problem, Stanford University put together a team of computer scientists, psychologists, economists and neuroscientists to develop a virtual reality that enables people to view themselves 20 or 30 years from now. The goal is to use behavioral science to motivate people to save more by bringing the future into the present.
If you or someone you know is looking for greater motivation to prepare for retirement, check out this article (the link opens a new window) by Jason Zweig in The Wall Street Journal, which outlines the stakes and examines the innovative method being developed to “shock Americans into saving more.”