BP#5 A Brighter Financial Future

Saving for retirement is a simple concept in that the more money you put away now, the more you will have later on. However, the way people think about money today often conflicts with this ideal, as Paul Sullivan puts in his New York Times article. Luckily, employers are now making efforts to try and cut the habit of among workers regarding their retirements. Employers are hiring outside help in financial advisors as well as internally promoting retirement packages. Companies are motivated to take extra steps because the financial stress of their employees directly affects their daily performance on the job. As awareness and reminders about retirement are spread through different mediums, efforts to boost retirement utilization have proved effective thus far.

 

When I read this article I immediately connected it to our class. To me, the problem that these new efforts to promote retirement saving spur from the notion that many people do not take full advantage of their opportunitie. In this sense, they are blindly following the concept of “put some money away and try not to touch it for a while”. As a college student, it seems that a large number of people don’t have retirement plans and are not actively involved in the investments that should be. We exhibit blind obedience in that we follow the rule but fail to critically think about and plan for our financial future.

 

I think teaching the concepts helps to transform blind obedience into interpretative obedience because the more informative and knowledgeable you are about a rule, the better you can interpret and follow it. With this being said, as an employees financial future burns brighter, and their stress levels goes down, is it safe to say that the interpretative obedience of a rule is directly correlated to happiness? More so than blind obedience? A case can most certainly be made for the effects of good stress management and how it changes lives for the better; but in a different light, it can be said that ignorance is bliss. So is it better to be well informed or misguided, or does it depend? Comment below with your thought on the matter.

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