As I mentioned in an earlier post, my experience is that most people simply don’t save enough for retirement. New research indicates that peer pressure might be a valuable behavioral tool to help people more easily achieve their goals. Essentially, as the link indicate, taking the same peer pressure that pushes us to “keep up with the Jones”, can be reversed to have us competing to save more. The site also point out a couple of sites which I’ve taken a look at and are fun to play with. They are:
These will give you a sense of how your savings and spending habits compare to others which is useful to see if you are on track or need to do more.
