The Value of Automatic Savings

The Value of Automatic Savings

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…