Fear of death driving people away from savings - Moneylife

Fear of death driving people away from savings - Moneylife



Posted here just for information. The content has no relevance to Indian context...



M G Warrier

Excerpts:

"The result of the study showed that only a few people choose to invest in annuities -- a guaranteed steady stream of income during retirement. 
 
The lack of interest shown towards annuities was because it coerced people to think about how long they expect to live in order to calculate the potential payout for an annuity. 
 
Thus, the findings, published online in the Journal of Consumer Psychology, proved that the fear of death tempts people to avoid making decisions about how to manage their savings during retirement."

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