Nick Murray, one of the most prolific scholars in our industry, states in his book Behavioral Investment Counseling that “your family’s financial well-being in later life, and its ability to leave significant legacies to its children, will depend largely on what percentage of its income it manages to save – perhaps the ultimate behavioral variable.” If Nick Murray is right – that the most important factor in a financial plan is the percentage of income saved – we would do well to listen. Now, to be clear, the purpose of…
The Value of Automatic Savings
