I'm going to talk today about saving more, but not today, tomorrow. I'm going to talk about Save More Tomorrow. It's a program that Richard Thaler from the University of Chicago and I devised maybe 15 years ago. The program, in a sense, is an example of behavioral finance on steroids -- how we could really use behavioral finance. Now you might ask, what is behavioral finance? So let's think about how we manage our money. Let's start with mortgages. It's kind of a recent topic, at least in the U.S. A lot of people buy the biggest house they can afford, and actually slightly bigger than that. And then they foreclose. And then they blame the banks for being the bad guys who gave them the mortgages.
Une do te flase sot per te kursyer me shume, por jo sot, neser. Une do te flas per Te Kursejme Me Shume Neser. Eshte programi qe Richard Thaler nga Universiteti i Çikagos dhe une qe e kemi shpikur ndoshta 15 vjet me pare. Ky program, nje nje menyre, eshte nje shembull i sjelljes financiare ne steroide -- se si ne vertet mundemi te perdorim sjelljen financiare. Tani ju mund te pyesni, cfare eshte sjellje financiare? Le te mendojme rreth asaj se si ne i menaxhojme parate tona. Le te fillojme me garancite hipotekore. Eshte ceshtje e kohes se fundit, te pakten ne Amerike. Shumica e njerezve blejne shtepine me te madhe qe mund te blene, dhe faktikisht pak me te madhe se ajo. Dhe me pas ata i heqin të drejtën mbi pronën e vënë në hipotekë Dhe me pas ata fajesojne bankat qe s'jane te mira duke i dhene atyre hipoteken.
Let's also think about how we manage risks -- for example, investing in the stock market. Two years ago, three years ago, about four years ago, markets did well. We were risk takers, of course. Then market stocks seize and we're like, "Wow. These losses, they feel, emotionally, they feel very different from what we actually thought about it when markets were going up." So we're probably not doing a great job when it comes to risk taking.
Le te mendojme si te menaxhojme riskun -- p.sh, duke investuar ne tregun e aksioneve. Dy vjet me pare, tre vjet me pare, rreth pese vjet me perpara, tregjet ishin mire, Ne morem persiper riskun, sigurisht. Tregu aksione pati nje renie dhe ne mendian "Wow. Keto humbje, ata i ndjene, emocionalisht, ndihen shume ndryshe nga cfare ne menduam rreth kesaj kur tregjet po ngriheshin." Keshtu qe ne me sa duhet nuk po benin ndonje pune te padhe kur vjen puna per te marre persiper rrezikun.
How many of you have iPhones? Anyone? Wonderful. I would bet many more of you insure your iPhone -- you're implicitly buying insurance by having an extended warranty. What if you lose your iPhone? What if you do this? How many of you have kids? Anyone? Keep your hands up if you have sufficient life insurance. I see a lot of hands coming down. I would predict, if you're a representative sample, that many more of you insure your iPhones than your lives, even when you have kids. We're not doing that well when it comes to insurance.
Sa Iphone keni ? Ndonjeri? Shume mire. Une ve bast qe shumica nga ju siguroni telefonin tuaj -- ju pa dyshim blini sigurimin duke pasur nje garanci te zgjatur. Cfare ndodh nese ju humbet telefoni ? N.q.s ju beni kete? Sa nga ju keni femije? Ndonjeri? Mbani duart lart n.q.s keni sihurimin e jetes te mjaftueshem. Uen po shof shume duar qe ulen poshte. Une do te parashikoja, nqs se ti je perfaqesues per shembull, qe me shume se ju sigurojne Iphonet sesa jeten tuaj, madje edhe kur keni femije. Ne nuk po dukemi dhe aq mire kur vjen puna tek siguracioni.
The average American household spends 1,000 dollars a year on lotteries. And I know it sounds crazy. How many of you spend a thousand dollars a year on lotteries? No one. So that tells us that the people not in this room are spending more than a thousand to get the average to a thousand. Low-income people spend a lot more than a thousand on lotteries. So where does it take us? We're not doing a great job managing money.
Mesatarja Amrikane e nje familje shpenzon 1,000 dollare ne vit per llotari. Dhe e di qe eshte cmenduri. Sa nga shpenzojne mijra dollare ne vit per llotarira? Asnjeri. Kjo na tregon ne qe njerzit jo ne kete ambjent shpenzojne me shume se nje mije per te arritur tek mesatarja e nje mijes. Njerzit me te ardhura te vogla shpenzojne shume me shume se nje mije neper llotarira. Pra ku do te na coje kjo > Ne nuk po bejme ndonjepune te madhe me menaxhimin e lekut.
Behavioral finance is really a combination of psychology and economics, trying to understand the money mistakes people make. And I can keep standing here for the 12 minutes and 53 seconds that I have left and make fun of all sorts of ways we manage money, and at the end you're going to ask, "How can we help people?" And that's what I really want to focus on today. How do we take an understanding of the money mistakes people make, and then turning the behavioral challenges into behavioral solutions? And what I'm going to talk about today is Save More Tomorrow.
Vendimet financiar eshte me te vertet nje kombinim i psikologjise dhe ekonomikut, te arrish te kuptosh gabimet qe njerzit bejne me parane. Dhe do te qendroj ketu per 12 minuta dhe 53 sekonda qe me kane mbetur dhe te argetohetm me te gjitha menyrat e zgjedhjet per menagimin e parase, dhe ne fund ju do te me pyesni, " Si mund te ndihmojme njerzit?" Dhe kjo eshte me te vertet ajo qe dua te fokusohem sot. Si mund kemi nje kuptim te gabimeve qe njerzit bejne me parane, dhe pastaj te kthejme sjelljet sfiduese ne ate sjellje te zgjidhshme? Dhe une do te flas sot rreth programin Te Kursejme Me Shume Neser.
I want to address the issue of savings. We have on the screen a representative sample of 100 Americans. And we're going to look at their saving behavior. First thing to notice is, half of them do not even have access to a 401(k) plan. They cannot make savings easy. They cannot have money go away from their paycheck into a 401(k) plan before they see it, before they can touch it. What about the remaining half of the people? Some of them elect not to save. They're just too lazy. They never get around to logging into a complicated website and doing 17 clicks to join the 401(k) plan. And then they have to decide how they're going to invest in their 52 choices, and they never heard about what is a money market fund. And they get overwhelmed and the just don't join. How many people end up saving to a 401(k) plan? One third of Americans. Two thirds are not saving now.
Dua ta drejtoj kete ceshtje tek kursimet. Ne kemi ne monitor nje shembull tipik te 100 Amrikaneve. Dhe ne do te shikojme sjelljen e ketyre kursimeve. E para qe veme re eshte , qe gjysma e tyre nuk kane te drejte ne nje plan 401(k). Ata nuk mund te kursejne kaq lehte. Ata nuk mund te lene t'ju ikin leket nga rroga tek nje plan 401(k) perpara se ta shohin ate, perpara se ta prekin ate. Po me gysmen tjeter te njerzve qe ngelen? Disa nga ata vendosin te mos kursejne. Ata jane shume pertace. Ata asnjehere nuk do te logohen ne nje uebsait te komplikuar dhe te klikojne 17 here per t'ju bashkuar planit 401(k) . Dhe me pas ata duhet te vendosin se si do ti investojne ne 52 mundesite e tyre, dhe ata kurre nuk e kane degjuar cfare eshte nje depozite tregu. Dhe ata jane te mbingarukuar dhe ata thjesht nuk e bejene kete. Sa njerez i shkojne deri ne fund planit 401(k) ? Nje e treta e Amerikaneve. Dy te tretat nuk kursejne sot .
Are they saving enough? Take out those who say they save too little. One out of 10 are saving enough. Nine out of 10 either cannot save through their 401(k) plan, decide not to save -- or don't decide -- or save too little. We think we have a problem of people saving too much. Let's look at that. We have one person -- well, actually we're going to slice him in half because it's less than one percent. Roughly half a percent of Americans feel that they save too much.
A arrijne te kursejne boll? Merreni me mend kush thote qe ata po kursejne shume pak. Nje nga te 10-tet a jane duke kursyer mjaft. 9-te nga 10 per me teper kursen permes planin te yre 401(k), vendosin te mos kursejne-- ose nuk vendosin -- ose kursejne shume pak. Ne mendojme se kemi nje problem te njerzve qe kursejne shume. Le te shikojme kete. Ne kemi nje person -- ok , ne do ta ndajme ate ne gjysem sepse eshte me pak se nje percend. Perafersisht gjysma perqind e Amerikaneve ndjejne qe ata kursejne shume.
What are we going to do about it? That's what I really want to focus on. We have to understand why people are not saving, and then we can hopefully flip the behavioral challenges into behavioral solutions, and then see how powerful it might be. So let me divert for a second as we're going to identify the problems, the challenges, the behavioral challenges, that prevent people from saving. I'm going to divert and talk about bananas and chocolate.
Cfare do te bejme rreth kesaj ? Kjo eshte vertete aty ku dua te fokusohem. Ne duhet te kutojme perse njerzit nuk po kursejne, dhe pastaj ne fatmirsisht te ndyshojme sjelljen dhe sfidat ne nje zgjidhje te sjellure, dhe me pas te shohim se sa e forte mund te jete. Me lejoni te transferoje per nje sekonde sikurse do te gjenim problemet sfidat, sfidat e sjelljes, keto i ndalojne njerzit te kursejne. Une do te tranferoje dhe te flas rreth bananeve dhe cokollata.
Suppose we had another wonderful TED event next week. And during the break there would be a snack and you could choose bananas or chocolate. How many of you think you would like to have bananas during this hypothetical TED event next week? Who would go for bananas? Wonderful. I predict scientifically 74 percent of you will go for bananas. Well that's at least what one wonderful study predicted. And then count down the days and see what people ended up eating. The same people that imagined themselves eating the bananas ended up eating chocolates a week later.
Te supzojme se ne bejme nje event tjeter te TED-it javen qe vjen. Dhe gjate pushimit do te kishte ndonje sanduic dhe qe mu d te zgjidhni bananet ose cokollatat. Dhe sa nga ju do te mendonit sikur te kishit bananet gjate ketij eventi hippotetik te TEd-it javen qe vjen? Kush do te gjidhte bananet? E mrekullueshme. Une parashikoj shkencerisht 74% nga ju do te zgjidhte bananet. Dhe kjo eshte te pakten ajo qe nje nga studimet e mrekullueshme kane parashikuar. Dhe pastaj te numurojne ditet dhe te shohin cfare njerzit kane mbaruar se ngreni. Te njejtit njerz qe e imagjinuar vehten e tyre duke ngrene banane mbaruan duke ngrene cokollata nje jave me vone.
Self-control is not a problem in the future. It's only a problem now when the chocolate is next to us. What does it have to do with time and savings, this issue of immediate gratification? Or as some economists call it, present bias. We think about saving. We know we should be saving. We know we'll do it next year, but today let us go and spend. Christmas is coming, we might as well buy a lot of gifts for everyone we know. So this issue of present bias causes us to think about saving, but end up spending.
Vet-kontrolli nuk eshte nje problem per te arshmen. Eshte vetem problem tani kur cokollata eshte mbs nesh . Cfare duhet te kete per te bere me kohen dhe kursimet, kjo c'eshtje e plotesimit te menjehershem? Ose disa ekonomiste e quajne ate, paragjykim i tanishem. Ne mendojme rreth kursimeve. Ne e dime qe duhet te kursejme. Ne e dime qe ne do ta bejme ate vitin tjeter, por sot lete te harxhojme. Krishtlindjet jane duke afruar, ne mund shume mire te bleme shume dhurata per kedo qe njohim. keshtu qe kjo c'eshtje e paragykimit tone shkakton tek ne per te menduar per kursimet, dhe perfundon duke i prishur ato
Let me now talk about another behavioral obstacle to saving having to do with inertia. But again, a little diversion to the topic of organ donation. Wonderful study comparing different countries. We're going to look at two similar countries, Germany and Austria. And in Germany, if you would like to donate your organs -- God forbid something really bad happens to you -- when you get your driving license or an I.D., you check the box saying, "I would like to donate my organs." Not many people like checking boxes. It takes effort. You need to think. Twelve percent do. Austria, a neighboring country, slightly similar, slightly different. What's the difference? Well, you still have choice. You will decide whether you want to donate your organs or not. But when you get your driving license, you check the box if you do not want to donate your organ. Nobody checks boxes. That's kind of too much effort. One percent check the box. The rest do nothing. Doing nothing is very common. Not many people check boxes.
Le te flasim tani rreth nje jeter pengese ne sjellje per kusimet duke pasur te beje me nje inertesi. Por perseri, nje deviim i vogel per c'eshtjen e dhurimit te organeve. Nje studim i mrekullueshem duke krakasur vende te ndryshme. Do te shikojme dy qytete te ngjashme, Gjermania dhe Austria. Dhe ne Gjermani, nqs se ti do te dhurosh oraganet e tua -- Zoti te falte eshte dicka e keqe do te ndodhi ty -- kur mer patenten ose karten e identitetit., ti kontrollon kutine e kursimeve, "Une dua te dhuroj organet e mia." Jo shume njerez i pleqejne listat. Kerkon perpjekje. te duhet te mendohesh. 12 % e bejne kete. Austria, nje shtet fqinj, lehtesisht te ngashem, pak te ndryshem. Kush eshte ndryshimi? e pra, ju prape keni nje zgedhje. Ti do te vendosesh nese do ti dhurosh organet apo jo. Por kur ti merr patenten, ti shenon tel lista nqs ti nuk do qe ti dhurosh organet. Asnjeri nuk i shenon tek lista. Ky eshte nje lloj stermundimi i madh. 1% e njerzve e shenojne ate. Te tjeret nuk bejne asgje. Per te mos bere asgje eshte shume e lehte. Jo shume njerzez i shenojne kutite e vogla te mundesive.
What are the implications to saving lives and having organs available? In Germany, 12 percent check the box. Twelve percent are organ donors. Huge shortage of organs, God forbid, if you need one. In Austria, again, nobody checks the box. Therefore, 99 percent of people are organ donors. Inertia, lack of action. What is the default setting if people do nothing, if they keep procrastinating, if they don't check the boxes? Very powerful. We're going to talk about what happens if people are overwhelmed and scared to make their 401(k) choices. Are we going to make them automatically join the plan, or are they going to be left out? In too many 401(k) plans, if people do nothing, it means they're not saving for retirement, if they don't check the box. And checking the box takes effort.
Cfare jane keto perpjekje per te shptuar jete dhe te kesh disa oragane ne gjendje? Ne Gjermani, 12% e zgjedhin kete gje. 12% jane organe te dhuruara. Shume sasi e paket e organeve, Zoti i perjashton, nws te duhet nje. Ne Austri, perseri, asnjeri nuk e shenon tek lista. Prandaj, 99% e njerzve jane organe te dhuruara. Kjo amulli, munges e veprimit. Kush eshte kundravajtja nqs se njerzit bejne dicka, nqs se ata i vonojne, nqs nuk i bejne nje zgjadhje tek lista? Shume e fuqishme. Ne do te flasim rreth asaj qe cfare ndodh nqs se njerzit jane te mbingarkuar dhe te friksuar per te bere zgjedhjet e planit 401(k). Ne do ti bejme ato ne menyre automatike per t'ju bashkuar planit, ose ata do te lihen jashte > Ne disa raste te planit 401(k), nqs njerzit nuk bejne asgje, kjo do te thote qe ata nuk po kursejne per pension, nws se ata nuk e bejne zgjedhjen tek kutia. Dhe te shenonsh tek kutia kerkon perpjekje.
So we've chatted about a couple of behavioral challenges. One more before we flip the challenges into solutions, having to do with monkeys and apples. No, no, no, this is a real study and it's got a lot to do with behavioral economics. One group of monkeys gets an apple, they're pretty happy. The other group gets two apples, one is taken away. They still have an apple left. They're really mad. Why have you taken our apple? This is the notion of loss aversion. We hate losing stuff, even if it doesn't mean a lot of risk. You would hate to go to the ATM, take out 100 dollars and notice that you lost one of those $20 bills. It's very painful, even though it doesn't mean anything. Those 20 dollars might have been a quick lunch. So this notion of loss aversion kicks in when it comes to savings too, because people, mentally and emotionally and intuitively frame savings as a loss because I have to cut my spending.
Keshtu qe ne folem rreth disa sfida e sjelljes. Edhe njehere para se te kthejme sfidat ne zgjidhje, duke pasur te bejme me majmune dhe molle.. Jo, jo, jo, ky eshte nje sudim i vertete dhe ka te beje shume me sjelljen ekonomike. Nje grup majmunesh marrin e molle, ata jane shume te gezuar. Grupi tjeter marrin dy molle, njera i merret. Atyre ju ka mbetur edhe nje. Ata jane me te verte te inatosur. Pse na i morret mollen tone? Ky eshte enocioni i humbjes se mospelqimit. Ne merzitemi kur na humbin gjerat, edhe pse madje nuk ka shume rrezik. Do te uuroje te shkojet te ATM, dhe te terheqesh 100 dollare dhe ve re qe ti ke humbur nje nga keto biletat 20 dollareshe. Eshte shume e dhimbshme, megjithse, nuk do te thote gje. Keto 20 dollaremund te ishin nje dreke e shpejte. Pra ky nocion i mospeqimit duket sikur te shkelmon kur vjen puna edhe per kursimet, sepse njerzit , menderisht dhe emocionalisht dhe intuitivisht forme e kursimit si nje humbje sepse mua me duhet te mos prishe leke.
So we talked about all sorts of behavioral challenges having to do with savings eventually. Whether you think about immediate gratification, and the chocolates versus bananas, it's just painful to save now. It's a lot more fun to spend now. We talked about inertia and organ donations and checking the box. If people have to check a lot of boxes to join a 401(k) plan, they're going to keep procrastinating and not join. And last, we talked about loss aversion, and the monkeys and the apples. If people frame mentally saving for retirement as a loss, they're not going to be saving for retirement.
Keshtu qe ne folem rreth te gjitha llojete sfidave te sjelljes qe kane te bjene me kursimit eventualisht. Kurdo qe ti mendon rreth pelqimi te domosdoshem, dhe cokollatat ndryshe babanet, jane te dhimbshme per ti kursyer tani. Eshte me shume nje loje per te prishur leke tani. Ne folem rreth inertesise dhe dhurimit te oraganeve dhe lista per tu plotesuar. Nws se njerzit kane per she mbushur shume lista per tu fuur ne planin(401k), ata do te vazhdojne te mbajne te vonuar dhe te mos bashkohet. Ne fund, ne folem per humbjen e mospelqimit, dhe per majmunet dhe mollet. Nqs se njerzit coptohen menderisht per te kursyer per pensionin si nje humbje, ata nuk do te kursejne per pensionin.
So we've got these challenges, and what Richard Thaler and I were always fascinated by -- take behavioral finance, make it behavioral finance on steroids or behavioral finance 2.0 or behavioral finance in action -- flip the challenges into solutions. And we came up with an embarrassingly simple solution called Save More, not today, Tomorrow. How is it going to solve the challenges we chatted about? If you think about the problem of bananas versus chocolates, we think we're going to eat bananas next week. We think we're going to save more next year. Save More Tomorrow invites employees to save more maybe next year -- sometime in the future when we can imagine ourselves eating bananas, volunteering more in the community, exercising more and doing all the right things on the planet.
Keshtu, qe kemi keto sfida, dhe cfare Richard Thaler dhe une jemi gjithmone te mrekulluar nga -- marrja e sjelljes financiare, suke e bere sjelljen financiare mbi steroidet ose sjelljes financiare 2.0 ose sjelljes financiare ne veprim -- te ktheje sfidat ne zgjdhje. Dhe ne erdhem me nje ne zgjidhje jashtezakonisht te thjeshte e quajtur Kurse Shume, jo sot, Neser. Si do ti zgjidhe sfidat qe ne folem rreth? Nqs mendon rreth problemit te bananeve kunder cokollatave, ne mendojme se do shkojne te hame banane javen qe vjen. Ne mendojme qe do e kursejme para vitin qe vjen. Kurse me shume Neser fton puntoret per te kursyer mndoshta me shume vitin tketer -- disa here ne te ardhmen kur ne te imagjinojme vehten tone duke ngrene banane, per te qene vullnetare me shume ne komunitet, duke bere me shume dhe duke bere gjerat e duhura nekete planet.
Now we also talked about checking the box and the difficulty of taking action. Save More Tomorrow makes it easy. It's an autopilot. Once you tell me you would like to save more in the future, let's say every January you're going to be saving more automatically and it's going to go away from your paycheck to the 401(k) plan before you see it, before you touch it, before you get the issue of immediate gratification. But what are we going to do about the monkeys and loss aversion? Next January comes and people might feel that if they save more, they have to spend less, and that's painful. Well, maybe it shouldn't be just January. Maybe we should make people save more when they make more money. That way, when they make more money, when they get a pay raise, they don't have to cut their spending. They take a little bit of the increase in the paycheck home and spend more -- take a little bit of the increase and put it in a 401(k) plan.
Tani ne githshtu folem rreth kutise ne listen e gjerave dhe veshtiresia eshte per te vepruar. Kurse me shune Neser beje te lehte. eshte si nje atuto pilot. Njehere me thate mua qe donit te kursenit me shume leke ne te ardhmen, ke te themi ne Janar ju do te mund te kurseni ne menyre automatike dhe do t'ju dali nga fatura e planit 401(k) perpara se ta shifni , perpara se ta prekni ate, perpara se te vini te c'eshtja e kenaqsise te menjehershme. Por cfare do te bejme rreth majuneve dhe mospelqimit humbes Janarin qe vjen njerzit mund te kujtojne qe kane kursyer me shume, dhe kane harxhuar me pak , dhe kjo eshte e dhimbshme. E pra, ndoshta nuk duhet te jete Janari. Ndoshta ne duhet ti bejme njerzit qe te kursejne me shume kur ata bejne me shume leke. Menyra , kur ata bejne leke , kur ata marrin nje ngritje rroge, ata nuk mendojne per te ukin shpenzime e tyre. Ata marrin shume pak nga kjo rritjene faturen e shtepise dhe shpenzojne me shume -- dhe shpenzojne me shume -- merr shume pak nga kjo ngrtje dhe e fusrin tek plani 401(K).
So that is the program, embarrassingly simple, but as we're going to see, extremely powerful. We first implemented it, Richard Thaler and I, back in 1998. Mid-sized company in the Midwest, blue collar employees struggling to pay their bills repeatedly told us they cannot save more right away. Saving more today is not an option. We invited them to save three percentage points more every time they get a pay raise. And here are the results. We're seeing here a three and a half-year period, four pay raises, people who were struggling to save, were saving three percent of their paycheck, three and a half years later saving almost four times as much, almost 14 percent.
Pro ky eshte programi, pa por sic do te shihim me vone, jashtezakonisht i fuqishem. Se pare ne e implementojme ate, Richard Thaler dhe Une, brapa ne 1998. Nje kompany i mesme ne Midewest, me puntore me kollare blu qe perpiqen te paguajne faturat e tyre duke e perseritur na thonin neve qe ata nuk mund te kursejne para menjane. Per te kursyer sot nuk eshte nje opsion. Ne i propozuam ayre per te kursyer tre perqind te pike me shume cdo here qe ata merrin nje ngritje. Dhe ja ku jane reszultatet. Ne jemi duke pare ketu tre dhe nje gjysem periudhe, kater nritje pagesash, njerzit qe perpiqeshin te kursenin, po kursenin 3 perqind te faturave te tyre, tre vjet e gjysem me vone kursenin pothuajse 4 here me shume , pothuajse 14 perqind.
And there's shoes and bicycles and things on this chart because I don't want to just throw numbers in a vacuum. I want, really, to think about the fact that saving four times more is a huge difference in terms of the lifestyle that people will be able to afford. It's real. It's not just numbers on a piece of paper. Whereas with saving three percent, people might have to add nice sneakers so they can walk, because they won't be able to afford anything else, when they save 14 percent they might be able to maybe have nice dress shoes to walk to the car to drive. This is a real difference. By now, about 60 percent of the large companies actually have programs like this in place. It's been part of the Pension Protection Act. And needless to say that Thaler and I have been blessed to be part of this program and make a difference.
Dhe kemi kaepuce dhe bicikleta dhe disa gjerat ne kete diagram sepse une nuk dua te tregoj tani vetem shifra njehapsire. Une dua, vertete, te mendoj rreth faktit qe kur kusen 4 here me shume eshte nje ndyshim i madh ne menyre e te jetuarit qe njerzit mund te jene ne gjendje per ti marre. Eshte e vertet. Nuk jane vetem numra ne nje cope letre. Ndersa me kursimet tre perqind, njerzit mund te kene atlete te keshtu qe ata mund te ecin, sepse nuk do te jene ne gjendje per te blere ndonje gje jeter, kur ata kursejne 14% ata mund te kene mundesi te kene edhe kepuce kostumi per te ecur dhe per te rejtuar makinen. Ky eshte nje ndryshim i madh. Por tani rreth 60% e kompanive te medhaja aktualisht kane programe te tilla ne kete vend. Ka qene pjese e Aktit Brojtes te Pensionit. Dhe e pa nevojshme per te thene qe Thaleri dhe Une jane te bekuar per te qene pjese e ketij programi dhe te bejme ndryshime.
Let me wrap with two key messages. One is behavioral finance is extremely powerful. This is just one example. Message two is there's still a lot to do. This is really the tip of the iceberg. If you think about people and mortgages and buying houses and then not being able to pay for it, we need to think about that. If you're thinking about people taking too much risk and not understanding how much risk they're taking or taking too little risk, we need to think about that. If you think about people spending a thousand dollars a year on lottery tickets, we need to think about that. The average actually, the record is in Singapore. The average household spends $4,000 a year on lottery tickets. We've got a lot to do, a lot to solve, also in the retirement area when it comes to what people do with their money after retirement.
Me lejoni te perfundoj me dy mesazhe te rendesihme. Njera eshte veprimet financiare jane jashtezakonisht te fuqishme. Ky eshte vetem nje shembull. Mesazhi dyte eshte qe ka shume per te bere. Ky eshte tamam maja e ajbergut. Nqs ju mendoni rreth njerzit dhe hipotekat duke blere shtepi e tejpor te mos qene e mundur ti paguash ato, ne na duhet te mendojme rreth tyre. Nqs ju jeni duke menduar rreth njerzve qe marrin shume reziqe dhe qe nuk kuptojne se sa rrezik ata kane marre ose te duke marre pak, ne duhet te mendojme rreth kesaj. Nqs ju mendoni rreth njerzve qe shpenzojne mijra dollare ne vit ne bileta lloratish, ne duhet te mendojem rreth kesaj. Mesatarja aktualisht, rekordi eshte ne Singapore. Mesatarja e nje pronari shpenzon $4,000 nje vite per bitela llotarie. Ne na duhet shume per te bere, shume per te zgjidhur, gjithashtu ne pjesen e pensionit kur vjen puna se c'fare njerzit bejne me parate e tyre mbas pensionit.
One last question: How many of you feel comfortable that as you're planning for retirement you have a really solid plan when you're going to retire, when you're going to claim Social Security benefits, what lifestyle to expect, how much to spend every month so you're not going to run out of money? How many of you feel you have a solid plan for the future when it comes to post-retirement decisions. One, two, three, four. Less than three percent of a very sophisticated audience. Behavioral finance has a long way. There's a lot of opportunities to make it powerful again and again and again.
Nje pyetje e fundit: Sa nga ju ndiheni te rrehatshem se qe nga momenti ju planifikoni per planin e pensionit ju keni nje plan te forte kur ju do te dilni ne pension, kur ju do te shkoni per te kerkuar perfitimete Social Security c'fare lloj jete ju prisni, sa shume shpenzon cdo muaj keshtu qe ju nuk do te nglelni pa leke? Sa nga ju ndiejne qe kane nje plan te forte per te ardhmen kur vjen puna per vendimet e mbas-pensionit. Nje, dy, tre, kater. Me pak se tre perqind e ketij auditori te sofistikuar. Veprimet financiare kane nje rruge te gjate. Ka shume mundesira per ta bere ate te fuqishem perseri dhe perseri dhe perseri.
Thank you.
Falemderit.
(Applause)
(Duartrokitje )