10/23/2015 – Why Is It So Hard To Save? U.K. Shows It Doesn’t Have To Be (NPR)

Many people in the U.S., of course, feel this way too: I can’t afford to save. I have student loans. I just don’t make enough money. And these are very real problems. Wages have been stagnant for decades — especially in recent years since the recession. But if you take someone like Bloomfield and enroll him automatically in a retirement savings plan — he doesn’t do anything at all; pretax money just starts coming out of his paycheck — odds are overwhelming that he’ll keep saving even though he thinks he can’t afford it. That’s exactly what’s happening in England. Bloomfield’s employer will soon be required to enroll him — unless he opts out — but it hasn’t rolled out to all employers. The law is being phased in right now.

Read the full article in NPR.