Investigación

Individuals frequently struggle with the challenge of sufficiently saving for retirement, a problem that can significantly impact the quality of life for retirees. Numerous strategies have been devised to mitigate this issue, ranging from traditional methods such as monetary incentives and tax advantages to more innovative approaches aimed at strengthening the individual’s connection with their future self. The latter, though theoretically promising, has not yet been field-tested. The underlying premise is that by amplifying the perceptual vividness of one’s future self, individuals might be more inclined to make decisions in line with their long-term interests. This study evaluates this hypothesis through a field experiment involving 415 customers of an investment firm. Participants were randomly assigned into three groups: one without any future self-reference (the control group), a second group presented with a text referencing their future selves, and a third group that was given the same text along with a digitally-aged image of themselves. The results indicate that interventions cultivating a more vivid connection to their future selves increase individuals’ intentions to save for retirement. This effect on intentions, however, only translated into a short-term, modest impact on the actual amount of money invested.