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Wednesday, May 14, 2014
Framing is key in the financial literacy arena. For example, the usual approach of getting all worked up over compound interest, etc. and its end result over 25 years or so just doesn't impress younger people on the importance of saving early. They click out on the typical presentation and later show in polls that they retain very little.
With the framing idea in mind, please read the post at
"Your Life In Weeks" by Tim Urban.
The interesting part of the post (from financial literacy perspective) is the colored chart showing weeks in retirement. For some people, I believe, the visual will be more revealing for the importance of thinking about retirement than just the usual approach of citing numbers. Urban's presentation also shows nicely how retirement is part of life overall and not just some separate issue to deal with.
Maybe somebody just as creative will develop Tim Urban's chart further by sketching out on the weekly chart where successful retirees were or should be at various weeks in their lives.