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June 21, 2022

Savings incentives: 401(k)s get us to do the right thing

  • The plans use a simple human trait to guide us: our inclination to do nothing.
    • By STAN CHOE
    AP Business Writer

    NEW YORK (AP) — More workers are following experts' advice in saving for retirement, even when finances feel precarious. It's happening because 401(k) plans are using a simple human trait to guide us: our inclination to do nothing.

    More workers are putting more money into their 401(k) accounts, and they're more often putting it into a reasonable mix of investments. That's according to Vanguard's latest look at the nearly 5 million accounts of 401(k) and similar plans that it keeps records on.


     
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