返回首页

ShlomoBenartzi_2011S-_为未来而存款_
I'm going to talk today about saving more, but not today, tomorrow. 今天我要谈一谈存钱 但不是今天开始存钱 而是明天存钱
I'm going to talk about Save More Tomorrow. 我将要谈的是:明天存更多的钱
It's a program that Richard Thaler from the University of Chicago and I devised maybe 15 years ago. 这是芝加哥大学的 理查德 泰勒和我 在15年前设计的一个项目
Thaler:n.泰勒(德国的旧银币名); devised:v.设计(devise的过去式和过去分词);计划;发明;
The program, in a sense , is an example of behavioral finance on steroids -- how we could really use behavioral finance. 在某种意义上 这个项目是广义的 行为金融学 我们怎样才能真正地利用行为金融学
in a sense:在某种意义上; behavioral:adj.行为的; finance:n.财政,财政学;金融;v.负担经费,供给…经费; steroids:n.甾族化合物;类固醇;(steroid的复数)
Now you might ask, what is behavioral finance? 现在也许你会问 什么是行为金融学
So let's think about how we manage our money. 那让我们考虑一下 我们是如何管理我们的钱的
Let's start with mortgages . 让我们从贷款开始
mortgages:n.抵押贷款; v.[经]抵押(mortgage的三单形式);
It's kind of a recent topic, at least in the U.S. 这个话题很新 至少在美国很新
A lot of people buy the biggest house they can afford , and actually slightly bigger than that. 很多人买的房子都是 他们能支付得起的最大的房子 而且实际上,比那种还要再大一些。
afford:v.给予,提供;买得起; slightly:adv.些微地,轻微地;纤细地;
And then they foreclose . 之后,他们的财产被银行收走了。
foreclose:vt.阻止;排除;取消抵押品赎回权;vi.取消抵押品赎回权;
And then they blame the banks for being the bad guys who gave them the mortgages. 然后他们就开始责备银行, 因为银行不好,给了他们贷款。
Let's also think about how we manage risks -- for example, investing in the stock market . 让我们也来想一下 我们如何管理风险: 比如说,投资股票市场。
investing:v.投资;投入(时间、精力等);(invest的现在分词) stock market:股票市场;证券市场;股票交易;
Two years ago, three years ago, about four years ago, markets did well. 两年或三年,甚至是四年以前, 股市很好
We were risk takers , of course. 当然,当时我们也是风险承担者。
takers:n.接受者;购买者(taker的复数);
Then market stocks seize and we're like, "Wow. 之后股市开始缩水 而我们就开始感叹
stocks:n.[金融]股票; v.采购; seize:v.抓住;夺取;理解;逮捕;
These losses, they feel, emotionally , they feel very different from what we actually thought about it when markets were going up." 从情感上而言,他们会觉得这些损失 与我们实际的想象中 市场会回升的时间 有很大差距
emotionally:adv.感情上;情绪上;令人激动地;情绪冲动地;
So we're probably not doing a great job when it comes to risk taking. 当涉及风险的时候 我们做的也许不是很好
How many of you have iPhones? 你们中多少人有iPhone？
Anyone? Wonderful. 有人吗？太好了。
I would bet many more of you insure your iPhone -- you're implicitly buying insurance by having an extended warranty . 我打赌你们中许多人 都给你们的iPhone上了保险 延长保修期也是一种隐性的保险
bet:n.打赌;赌注;预计;估计;v.下赌注(于);用…打赌;敢说;八成儿; insure:v.投保;给…保险;接受投保;承保; implicitly:adv.含蓄地;暗中地; extended:adj.延长了的;扩展了的;v.使伸长;扩大;扩展;(extend的过去式和过去分词) warranty:n.保证;担保;授权;(正当)理由;
What if you lose your iPhone? 如果你的iPhone丢了怎么办？
What if:如果…怎么办?
What if you do this? 如果发生了其他事情怎么办？
How many of you have kids? 你们当中多少人有孩子?
Anyone? 多少人？
Keep your hands up if you have sufficient life insurance . 如果你有足够的人寿保险 请继续举着手不要放下
sufficient:adj.足够的;充分的; life insurance:人寿保险的;人寿保险;
I see a lot of hands coming down. 我看到很多手放下去了。
I would predict , if you're a representative sample, that many more of you insure your iPhones than your lives, even when you have kids. 我预计说, 如果你是一个代表性样本 那么你们给iPhone上的保险 比你们的寿险还要多 有了孩子也是一样。
predict:v.预报;预言;预告; representative:n.代表; adj.典型的;
We're not doing that well when it comes to insurance. 每当谈及保险的时候,我们做的都不够好。
The average American household spends 1,000 dollars a year on lotteries . 美国一般家庭 每年花费1000美元 在乐透彩上。
household:n.家庭;一家人;同住一所(或一套)房子的人;adj.家庭的;家常的;王室的; lotteries:彩票;
And I know it sounds crazy. 我知道这听起来很疯狂。
How many of you spend a thousand dollars a year on lotteries? 在座各位有多人每年花1000美元在乐透彩上？
No one. 没有人
So that tells us that the people not in this room are spending more than a thousand to get the average to a thousand. 这就告诉了我们,没在这间屋子里面的人 每年花在乐透彩上的钱超过了1000美元 这才能让平均值保持在1000美元
Low-income people spend a lot more than a thousand on lotteries. 低收入人群 花在乐透彩上的钱远远超出了1000美元
So where does it take us? 那么这会如何影响我们呢
We're not doing a great job managing money. 我们并不是很擅长于管理钱
Behavioral finance is really a combination of psychology and economics, trying to understand the money mistakes people make. 行为经济学实际上是 心理学和经济学的结合 请试着理解一下 人们所犯的有关于金钱的错误
combination:n.结合;组合;联合;[化学]化合; psychology:n.心理学;心理状态;
And I can keep standing here for the 12 minutes and 53 seconds that I have left and make fun of all sorts of ways we manage money, and at the end you're going to ask, "How can we help people?" 在剩下的12分53秒中 我可以一直在这里站着 取笑我们管理金钱的 各种方法。 结束的时候你们就会问:“我们如何才能帮补别人呢”？
make fun of:取笑;
And that's what I really want to focus on today. 这才是我今天想讲的重点
How do we take an understanding of the money mistakes people make, and then turning the behavioral challenges into behavioral solutions? 我们如何理解 别人在管理金钱上犯的错误 并且改变这些行为上的挑战 使其变为解决方案？
And what I'm going to talk about today is Save More Tomorrow. 今天我将要讲的是 增加未来的储蓄
I want to address the issue of savings . 我想讨论一下 储蓄的问题
issue:n.重要议题;争论的问题;v.宣布;公布;发出;发行; savings:n.节省物;节省;节约;储蓄金;存款;(saving的复数)
We have on the screen a representative sample of 100 Americans. 在屏幕上 有一个100个美国人的 代表性样本
And we're going to look at their saving behavior. 我们将会看一下他们的储蓄行为
First thing to notice is, half of them do not even have access to a 401(k) plan. 首先需要注意的是 他们当中一半人 都没有 加入401退休福利计划
They cannot make savings easy. 他们想要储蓄很不容易
They cannot have money go away from their paycheck into a 401(k) plan before they see it, before they can touch it. 他们不能将钱一眼不看 一分不动地 投入到 401退休福利计划当中
paycheck:n.工资;薪金;工资支票;
What about the remaining half of the people? 那么剩下的一半人呢
Some of them elect not to save. 他们中的一部分选择不储蓄
They're just too lazy. 他们只是太懒了
They never get around to logging into a complicated website and doing 17 clicks to join the 401(k) plan. 他们从来不愿意登录一个比较复杂的网站 并且点击17下鼠标 加入401退休福利计划
get around to:抽出时间来做…;开始考虑做…; logging:n.伐木作业;v.把…载入正式记录;记录;采伐;(log的现在分词) complicated:adj.复杂的;难懂的;v.使复杂化;(complicate的过去分词和过去式)
And then they have to decide how they're going to invest in their 52 choices, and they never heard about what is a money market fund . 然后他们需要决定如何投资 52种不同的计划 他们也从未听说过什么是货币市场基金
money market:金融市场; fund:n.基金;资金;存款;v.投资;资助;
And they get overwhelmed and the just don't join. 他们应接不暇,所以也就不了了之了
overwhelmed:v.受打击,压倒;淹没;(overwhelm的过去分词和过去式)
How many people end up saving to a 401(k) plan? 有多少人最后会加入401退休福利计划呢
One third of Americans. 三分之一的美国人
Two thirds are not saving now. 三分之二的美国人现在没有在储蓄
Are they saving enough? 他们存够钱了么
Take out those who say they save too little. 除去那些 说自己没有存钱的人。
One out of 10 are saving enough. 10个人里面有一个人 存的钱是足够的。
Nine out of 10 either cannot save through their 401(k) plan, decide not to save -- or don't decide -- or save too little. 10个人中有9个 或者是不能通过401退休福利计划存款 或者是决定不存款,或者还没决定存不存款 或者存款少的微乎其微
We think we have a problem of people saving too much. 我想那些存款过多的人 面临着一个问题
Let's look at that. 让我们来看一下
We have one person -- well, actually we're going to slice him in half because it's less than one percent. 我们有一个人 实际上 我们只算他的一半 因为这个数据是少于1%的
slice:n.片; v.切成片; (很容易地)切开;
Roughly half a percent of Americans feel that they save too much. 大约有0.5%的美国人 认为他们存的钱太多了
Roughly:adv.粗糙地;概略地;
What are we going to do about it? 那么我们该如何对待这件事情呢
That's what I really want to focus on. 这就是为什么我想将重点放在这上
We have to understand why people are not saving, and then we can hopefully flip the behavioral challenges into behavioral solutions, and then see how powerful it might be. 我们需要理解 人们不去储蓄的原因 这样我们才有希望跨过 行为上的障碍 将其变为解决方式 并且看一下这会有多强大
flip:n.浏览;空翻;轻抛;捻掷;v.迅速翻动;按(开关);按(按钮);开(或关)(机器等);
So let me divert for a second as we're going to identify the problems, the challenges, the behavioral challenges, that prevent people from saving. 所以请给我一秒钟转移话题 因为我们即将要找到那些问题 人们在储蓄上面对的 挑战,行为上的挑战
divert:v.使转向;使绕道;转移;使分心;娱乐; identify:v.识别:鉴定:确认:发现:
I'm going to divert and talk about bananas and chocolate. 我想先谈一下香蕉和巧克力
Suppose we had another wonderful TED event next week. 假设我们下周还有一次美好的TED讲座
Suppose:v.推断:假定:假设:设想:
And during the break there would be a snack and you could choose bananas or chocolate. 那么在休息期间 会有茶点提供 你有香蕉或者是巧克力可以选择
snack:n.点心;小吃;快餐;易办到的事;v.吃点心(或快餐、小吃);
How many of you think you would like to have bananas during this hypothetical TED event next week? 那么各位有多少人在这场假想的讲座的茶歇间 会选择吃香蕉呢
hypothetical:adj.假设的;爱猜想的;
Who would go for bananas? 有多少人吃香蕉,请举手
Wonderful. 很好
I predict scientifically 74 percent of you will go for bananas. 我从科学角度预计 你们当中有74%的人会选择香蕉。
scientifically:adv.系统地;合乎科学地;学问上;
Well that's at least what one wonderful study predicted . 至少一个很好的研究也应该能预测到这一点
predicted:v.预言;预告;预报;(predict的过去分词和过去式)
And then count down the days and see what people ended up eating. 然后让我们等到那一天 看看人们最后吃的什么吧
The same people that imagined themselves eating the bananas ended up eating chocolates a week later. 那些想象着自己 吃香蕉的人 一周之后 吃的都是巧克力。
Self-control is not a problem in the future. 自控能力 不是未来的一个问题
Self-control:n.克己,自我控制;
It's only a problem now when the chocolate is next to us. 当巧克力就在我们手边的时候 这就是一个现在的问题
What does it have to do with time and savings, this issue of immediate gratification ? 这与时间,与储蓄有什么关系呢 与这种即时的喜悦又有什么关系呢
have to do with:与…有关; gratification:n.满意;喜悦;使人满意之事;
Or as some economists call it, present bias . 一些经济学家将其称为,及时性偏见
bias:adv.使有偏见;n.偏见;偏心;偏爱;v.使有偏见;使偏向;adj.斜的;[电]偏动的;
We think about saving. We know we should be saving. 我们总是想着储蓄。我们知道我们应该储蓄
We know we'll do it next year, but today let us go and spend. 我们知道我们明年会做 但是今天我们还是先消费吧
Christmas is coming, we might as well buy a lot of gifts for everyone we know. 圣诞节快到了 我们会给认识的所有人都买礼物
might as well:不妨,何妨;还是…的好;
So this issue of present bias causes us to think about saving, but end up spending. 所以这种及时性偏见 让我们想的是储蓄 但却以花钱告终
Let me now talk about another behavioral obstacle to saving having to do with inertia . 让我再谈一个 与惰性有关的 储蓄的行为障碍
obstacle:n.障碍;障碍物;阻碍;绊脚石; inertia:n.[力]惯性;惰性,迟钝;不活动;
But again, a little diversion to the topic of organ donation . 但是同样 我需要先岔开一下话题 谈一下器官捐赠
diversion:n.转移;消遣;分散注意力; organ:n.[生物]器官;机构;风琴;管风琴;嗓音; donation:n.捐赠;捐赠物;赠送;
Wonderful study comparing different countries. 这是一个有关不同国家的非常好的比较研究
comparing:v.比较;对比;(compare的现在分词)
We're going to look at two similar countries, 我们将要看两个相像的国家
Germany and Austria . 德国和奥地利
Austria:n.奥地利;[国]奥地利;欧洲中南部内陆国家;
And in Germany, if you would like to donate your organs -- 在德国 如果你想要捐赠器官
donate:v.赠送;献(血);捐献(器官); organs:n.[生物]器官;机构;风琴(organ的复数);
God forbid something really bad happens to you -- when you get your driving license or an I.D., you check the box saying, "I would like to donate my organs." 希望上帝是可以 保佑你的 在你在拿到驾照或者是身份证的时候 你需要在方框中打勾来说明 “我想要捐赠器官”。
forbid:v.禁止;不准;不允许;(正式)严禁; license:v.许可;批准;
Not many people like checking boxes. 没有多少人在方框中打勾
It takes effort. You need to think. 这需要很大努力 你需要再三考虑
Twelve percent do. 有12%的人选择捐赠
Austria, a neighboring country, slightly similar, slightly different. 在邻国奥地利 情况略有相似,却也有些不同
neighboring:adj.邻近的;接壤的;v.邻近;使接近;位于…附近;(neighbor的现在分词)
What's the difference? 那么什么地方不同呢
Well, you still have choice. 那就是你还是有选择的
You will decide whether you want to donate your organs or not. 你需要决定 你是不是想要捐赠器官
But when you get your driving license, you check the box if you do not want to donate your organ. 但是当你拿到驾照的时候 如果你不想捐赠器官 你需要在方框中打勾
Nobody checks boxes. 没有人在方框中打勾
That's kind of too much effort. 这太费劲了
One percent check the box. The rest do nothing. 只有1%的人打了勾 其他的人什么都没有做
Doing nothing is very common. 无所事事是很正常的
Not many people check boxes. 只有少部分人在方框中打勾
What are the implications to saving lives and having organs available? 那么救助他人性命 和器官捐赠 有什么影响呢
implications:n.蕴涵式;暗指,暗示;含蓄,含意;卷入(implication的复数);
In Germany, 12 percent check the box. 在德国 有12%的人打了勾
Twelve percent are organ donors . 有12%的人是器官捐赠者
donors:n.捐赠人(donor的复数);[电子]施主;
Huge shortage of organs, 器官短缺非常严重
shortage:n.短缺;不足;缺少;
God forbid, if you need one. 上帝保佑你,如果你需要一个的话
In Austria, again, nobody checks the box. 在奥地利,同样的,没有人勾上了方框
Therefore, 99 percent of people are organ donors. 因此 99%的人都是 器官捐赠者
Inertia, lack of action. 惰性 缺乏行动
What is the default setting if people do nothing, if they keep procrastinating , if they don't check the boxes? 如果人们什么也不做 那么默认的什么就是什么 如果他们一直拖延下去,如果他们不选择呢
default:n.违约;拖欠;缺席;缺陷;v.违约;拖欠;缺乏;不履行; procrastinating:v.拖延;耽搁;(procrastinate的现在分词)
Very powerful. 这是很有力的
We're going to talk about what happens if people are overwhelmed and scared to make their 401(k) choices. 我们将会谈一谈 如果人们很害怕选择投资401退休福利计划时 该怎么办
Are we going to make them automatically join the plan, or are they going to be left out? 我们是应该让他们自愿加入计划, 还是让他们被落下
automatically:adv.自动地;机械地;无意识地;adj.不经思索的;
In too many 401(k) plans, if people do nothing, it means they're not saving for retirement , if they don't check the box. 在许多401退休福利计划当中 如果人们什么也不做 这就意味着如果他们不在方框中打勾 他们就没有为未来存钱
retirement:n.退休;退职;退休年龄;退休生活;
And checking the box takes effort. 而打勾是花费精力的
So we've chatted about a couple of behavioral challenges. 我们已经谈及了几个行为障碍
One more before we flip the challenges into solutions, having to do with monkeys and apples. 在我们跨过挑战讨论解决方案之前 我们再来谈一个 这个与猴子和苹果有关系
No, no, no, this is a real study and it's got a lot to do with behavioral economics. 不 不 不 这是一项存在的研究 与行为经济学有很大关系
One group of monkeys gets an apple, they're pretty happy. 有一组猴子得到了一个苹果 它们很高兴
The other group gets two apples, one is taken away. 另一组猴子得到了两个苹果 但是有一个被拿走了
They still have an apple left. 它们只剩下了一个苹果
They're really mad. 它们就非常的愤怒
Why have you taken our apple? 为什么要拿走我们的苹果
This is the notion of loss aversion . 这就是由损失引起的厌恶情绪
notion:n.观念;信念;理解; aversion:n.厌恶;讨厌的人;
We hate losing stuff , even if it doesn't mean a lot of risk. 我们讨厌失去东西 即使我们并不会因此承担多大风险
stuff:n.东西:物品:基本特征:v.填满:装满:标本:
You would hate to go to the ATM, take out 100 dollars and notice that you lost one of those $20 bills. 如果你去自动取款机取出100美元 然后发现你丢了其中的20美元 你很可能会很愤恨
It's very painful , even though it doesn't mean anything. 即使这并不意味着任何事情 这还是非常令人心痛的
painful:adj.痛苦的;疼痛的;令人不快的;
Those 20 dollars might have been a quick lunch. 这20美元很可能代表着一顿午餐
So this notion of loss aversion kicks in when it comes to savings too, because people, mentally and emotionally and intuitively frame savings as a loss because I have to cut my spending. 所以这种对损失的愤恨情绪 在储蓄的时候同样也会发生 因为人们 从精神上,情感上和本能上 都认为储蓄是一种损失 因为我需要减少花销
mentally:adv.精神上,智力上;心理上; intuitively:adv.直观地;直觉地; frame:n.框架; v.设计; adj.有木架的;
So we talked about all sorts of behavioral challenges having to do with savings eventually . 那让我们来讨论一下 最终可能会影响到储蓄的 各种行为上的困难
eventually:adv.最后,终于;
Whether you think about immediate gratification, and the chocolates versus bananas, it's just painful to save now. 无论你想到的是不是即时的喜悦 还是巧克力与香蕉之间的选择 从现在开始存款就是很令人心痛的。
versus:prep.对;与...相对;对抗;
It's a lot more fun to spend now. 现在开始花钱 却有趣得多
We talked about inertia and organ donations and checking the box. 我们讨论了惰性与器官捐赠 以及是否在方框内打勾
donations:n.捐赠物;捐赠;赠送;(donation的复数)
If people have to check a lot of boxes to join a 401(k) plan, they're going to keep procrastinating and not join. 如果人们需要打很多个勾 才能加入401退休福利计划的话 他们就会搁置下这件事 选择不去参加
And last, we talked about loss aversion, and the monkeys and the apples. 最后,我们来谈下由损失引起的厌恶情绪 以及猴子和苹果的故事
If people frame mentally saving for retirement as a loss, they're not going to be saving for retirement. 如果人们在思想上认为 为退休而储蓄是一种损失的话 他们就不会打算为退休而储蓄
So we've got these challenges, and what Richard Thaler and I were always fascinated by -- take behavioral finance, make it behavioral finance on steroids or behavioral finance 2.0 or behavioral finance in action -- flip the challenges into solutions. 所以我们得出了以下人们可能面临的困难 理查德 泰勒和我 总是对这些困难很感兴趣 将行为金融学 变得更加深入具体 或者我们可以称其为 行为金融学2.0版 或者现实中的行为金融学 将所面临的困难化为解决方案
And we came up with an embarrassingly simple solution called Save More, not today, Tomorrow. 我们得出了一个异常简单的解决方案 叫做 为了明天而储蓄 不是今天
embarrassingly:adv.使人尴尬地;令人难堪地; solution:n.解决方案;溶液;溶解;解答;
How is it going to solve the challenges we chatted about? 那么这种方案将怎样解决 我们刚刚谈到的这些困难呢？
If you think about the problem of bananas versus chocolates, we think we're going to eat bananas next week. 如果你想到了 香蕉还是巧克力的问题 想我们下周应该是吃香蕉
We think we're going to save more next year. 那么我们就应该想我们明年要存更多的钱
Save More Tomorrow invites employees to save more maybe next year -- sometime in the future when we can imagine ourselves eating bananas, volunteering more in the community , exercising more and doing all the right things on the planet. 明天存更多的钱 邀请员工 也许明年开始存更多的钱 未来的某一天 我们想象自己 吃香蕉 或者志愿参加更多的社区活动的时候 更多的锻炼或者是做所有正确的事情
volunteering:v.自愿做;义务做;无偿做;当志愿兵(volunteer的现在分词) community:n.社区;[生态]群落;共同体;团体;
Now we also talked about checking the box and the difficulty of taking action. 现在我们再来谈一下在方框中打勾 以及采取行动所面临的困难
Save More Tomorrow makes it easy. 明天存更多的钱 让这些困难变得简单
It's an autopilot . 他是一个自动驾驶仪
autopilot:n.[航]自动驾驶仪(等于automaticpilot);
Once you tell me you would like to save more in the future, let's say every January you're going to be saving more automatically and it's going to go away from your paycheck to the 401(k) plan before you see it, before you touch it, before you get the issue of immediate gratification. 一旦你告诉我你想要在未来存更多的钱 比如说每个一月份开始 你都想开始存更多的钱 那么在你看到或拿到你的工资前 一部分钱就已经赚到了你的401退休福利计划当中 这样你就不会有因为 及时的喜悦而难以选择的问题
But what are we going to do about the monkeys and loss aversion? 但是我们应该怎么处理那些猴子 和由损失引起的愤恨情绪呢
Next January comes and people might feel that if they save more, they have to spend less, and that's painful. 当明年一月份来临的时候 人们可能会觉得如果他们存更多的钱 那么他们需要少花钱 他们因此而心痛
Well, maybe it shouldn't be just January. 也许我们不应该仅仅从一月份开始
Maybe we should make people save more when they make more money. 当人们赚的越多的时候 我们就应该让他们存的更多
That way, when they make more money, when they get a pay raise, they don't have to cut their spending. 这样的话,当他们赚的越多,当他们的收入升高的时候 他们就不需要减少开支了
They take a little bit of the increase in the paycheck home and spend more -- take a little bit of the increase and put it in a 401(k) plan. 他们可以将 涨的工资的一部分拿回家 增加开销 然后再多拿出一点 投入到401退休福利计划当中
So that is the program, embarrassingly simple, but as we're going to see, extremely powerful. 这就是我们的项目 非常非常的简单 但是我们将会看到 非常有效的成果
extremely:adv.非常,极其;极端地;
We first implemented it, 理查德 泰勒和我
implemented:v.使生效;贯彻;执行;实施;(implement的过去式和过去分词)
Richard Thaler and I, back in 1998. 最初施行这个项目 是在1998年的时候
Mid-sized company in the Midwest , blue collar employees struggling to pay their bills repeatedly told us they cannot save more right away . 在中西部的中型公司中的 蓝领工人中间推行的 他们挣扎在交各种账单 他们不断地告诉我们 他们不能马上存下来钱
Mid-sized:adj.中号的;中等尺寸的; Midwest:n.美国的中西部; blue collar:adj.穿蓝领工装的;体力劳动的;蓝领阶级; repeatedly:adv.反复地;再三地;屡次地; right away:立刻;
Saving more today is not an option . 今天存更多的钱不是可行的
option:n.选择;可选择的东西;
We invited them to save three percentage points more every time they get a pay raise. 那么我们就让他们 在每次涨工资的时候 都多存3%的钱
percentage:n.百分比;百分率;利润的分成;提成;
And here are the results. 那么结果就是
We're seeing here a three and a half-year period, four pay raises, people who were struggling to save, were saving three percent of their paycheck, three and a half years later saving almost four times as much, almost 14 percent. 在三年半的时间内 他们的收入涨了四次 那些很难存下钱的人 就存下来了他们工资的3% 三年半之后 他们就存下了大约四倍的数量 也就是大约14%
And there's shoes and bicycles and things on this chart because I don't want to just throw numbers in a vacuum . 就相当于买鞋和自行车的钱 以及在这张表上显示的其他物品 因为我不仅仅想 凭空用数字说话
vacuum:n.真空; adj.真空的; v.用真空吸尘器清扫;
I want, really, to think about the fact that saving four times more is a huge difference in terms of the lifestyle that people will be able to afford. 我真的想要想一下这个事实 那就是多存四倍的钱 真的会在人们能支付的其的 生活方式上 有很大的不同
It's real. 这是真的
It's not just numbers on a piece of paper. 这不仅仅是一张纸上的数字
Whereas with saving three percent, people might have to add nice sneakers so they can walk, because they won't be able to afford anything else, when they save 14 percent they might be able to maybe have nice dress shoes to walk to the car to drive. 然而当只存3%的钱的时候 人们可能只能买新的平板鞋 为了走路 因为他们负担不起其他的东西 要是他们存14%的话 他们可能就有钱买漂亮的礼服鞋 穿着开车出去玩
Whereas:conj.然而;鉴于;反之; sneakers:n.胶底运动鞋(sneaker的复数形式);
This is a real difference. 这是很大的不同
By now, about 60 percent of the large companies actually have programs like this in place. 到现在,有60%左右的大型公司 已经实际上推行了这样的项目
It's been part of the Pension Protection Act. 这是养老金保护法案的一部分
Pension:n.养老金;退休金;抚恤金;adj.有关退休金的;v.给…养老金[恤金,津贴等];
And needless to say that Thaler and I have been blessed to be part of this program and make a difference . 无需赘言 泰勒和我 也有幸成为这个项目的一部分 并且做出了一些改变
needless:adj.不必要的,不需要的;多余的,无用的; blessed:adj.神圣的; v.求上帝降福于; (bless的过去分词和过去式) make a difference:有影响,有关系;
Let me wrap with two key messages. 让我来总结 两条重点
wrap:v.缠绕;隐藏;掩护;包起来;缠绕;穿外衣;n.外套;围巾;
One is behavioral finance is extremely powerful. 第一点是行为金融学 是非常强大的
This is just one example. 这仅仅是其中的一个例子
Message two is there's still a lot to do. 第二点就是 我们要做的还有很多
This is really the tip of the iceberg . 这仅仅是冰山一角
tip of the iceberg:冰山一角;事物的表面部分;
If you think about people and mortgages and buying houses and then not being able to pay for it, we need to think about that. 如果你想一下人们与按揭贷款 人们在买房子 但是他们却根本支付不起 这是我们需要考虑的问题之一
If you're thinking about people taking too much risk and not understanding how much risk they're taking or taking too little risk, we need to think about that. 我们还需要想 要是人们承担了过多的风险 却不知道他们到底承担了多少风险 或者是承担的太少的风险该怎么办
If you think about people spending a thousand dollars a year on lottery tickets, we need to think about that. 我们还要想 如果有人一年花1000美元在乐透彩上 该怎么办
lottery:n.彩票;碰运气的事,难算计的事;抽彩给奖法;
The average actually, the record is in Singapore. 实际上,平均而言 新加坡的数据就是如此
The average household spends $4,000 a year on lottery tickets. 在那里每家每年花费4000美元 在买乐透彩上
We've got a lot to do, a lot to solve, also in the retirement area when it comes to what people do with their money after retirement. 我们要做的还有很多 我们有许多问题要解决 还有一个关于退休的问题是 当退休之后 人们如何分配他们的钱
One last question: 最后一个问题
How many of you feel comfortable that as you're planning for retirement you have a really solid plan when you're going to retire, when you're going to claim Social Security benefits, what lifestyle to expect, how much to spend every month so you're not going to run out of money? 当你们为退休而打算的时候 你们当中有多少人可以说 关于你们何时退休 你有一个很稳定的计划 什么时候去领社会保障金 退休后过什么样的生活 你每个月需要花多少钱 才能保证钱足够花
claim:v.要求;声称;需要;认领;n.要求;声称;索赔;断言;值得; Social Security:n.社会保障金(政府定期向贫穷、失业、患病等人发放); run out of:用完;
How many of you feel you have a solid plan for the future when it comes to post-retirement decisions. 当谈到退休后的决定的时候 在座有多少人认为你们对于未来的打算稳妥了呢
One, two, three, four. 一 二 三 四
Less than three percent of a very sophisticated audience. 在这些经验丰富的观众中 只有不到3%
sophisticated:adj.复杂的;老练的;见多识广的;水平高的;
Behavioral finance has a long way. 行为金融学还有很长的路要走
There's a lot of opportunities to make it powerful again and again and again. 还有很多机会 将它变得越来越强大
again and again:adv.再三地,反复地;
Thank you. 非常感谢
(Applause) 鼓掌