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The folly of financial literacy and the dangers of disclosure

When you see employees who still aren't saving enough, despite being taught about the importance of saving, what must you conclude about the value of 'financial literacy'?

By Chris Carosa | Updated on April 19, 2017
If the typical employee fails to save enough despite non-stop education, imagine what happens when it comes to myopic decision making, cognitive bias, and the ravages of recency.

I experienced something very strange last week. A college classmate and I were finishing a thought outside the hotel where I was staying. Our conversation began at dinner and continued as we walked down Lexington Avenue. We stopped to wrap things up outside the Gramercy Park Hotel. It was early evening and the smart set was just getting started.

Related: Millennials and saving: Getting 20-year-old horses to drink the water

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