Monday, January 9, 2012

One Word You Don't Hear Mentioned A Lot

Pundits and polls have identified a lot of reasons for the lack of financial security in America. The University of Michigan has added another - patience.

A new line of research done by the school finds that "impatience and financial illiteracy are strong predictors of wealth and investment in health."

So while great strides have been made in getting financial literacy into the classroom, maybe we should be looking at teaching patience too.

The researchers note that this can be done with proper "framing" of financial choices.

Interesting stuff.