Credo: Automation of pension savings.
Influence: Robert Ball, the agency head of social security at three U.S. Presidents.
Quote: "The pension plan 401(k) had to give money for a trip to Paris. And instead became our main rule".
Best-seller: "How to operate the money for pensions" (2010).
Principles. The veteran of Federal reserve bank of Boston (20 years of work) and the former member of the Presidential Council of economic consultants, the teacher of the Boston college, Munnell started sounding alarm long ago, specifying that Americans postpone for pension too little. She also urged to join automatically the plan 401(k), and recently expressed concern that pensioners don't spend enough means to live happily.
Invest like Munnell. Count, how much you need to postpone for pension — most of investors don't know, how much it is required to their means and how much they will spend.
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