Bridging the Confidence Gap
In the world of finance, the effects of the "confidence gap" can be especially apparent.
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It’s easy to feel invincible when you’re young, healthy and have a steady paycheck. After all, the chances of something catastrophic happening to you are pretty low, right?
It’s morning and you’re out the door. Immediately your home’s smart devices take over, dialing down the heat, turning off the coffeemaker, and arming surveillance inside and out. In the car, rain-sensing wipers activate at the first drops; adaptive cruise control maintains a steady pace; and upon arrival, parking assist gets you into a tight space, no problem.
Americans are saving more these days.1 Especially millennials. We know why to save: For emergencies, for retirement, to afford big-ticket dreams like home ownership or opening a business. But how to save is another matter.