Brigitte Madrian: 'Inertia Can Actually Be a Helpful Thing'

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 22 April 2020

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

A leading behavioral researcher discusses the importance of setting the right retirement-plan defaults and how the current crisis puts urgency around "rainy day accounts."

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York.
0:23.3	Purchase New York.
0:26.5	Please stay tuned for important disclosure information at the conclusion of this episode.
0:33.1	Hi, and welcome to the Longview.
0:34.9	I'm Christine Ben's Director of Personal Finance for Morningstar, Inc.
0:38.2	And I'm Jeff Battack, Global Director of Manager Research for Morningstar Research Services.
0:42.6	Our guest on the podcast today is Dr. Bridget Madrian, the dean of the Marriott School of Business at Brigham Young University, and a leading light in the field of behavioral economics.
0:52.5	Households saving and investment behavior have been key
0:55.0	focuses of her research, and her work in these areas has influenced the design of 401K plans
1:00.6	and pension reform legislation. She also uses the lens of behavioral economics to understand
1:06.2	health behaviors and improve health outcomes. Before coming to BYU, Dr. Madrean was the Etna Professor of Public
1:13.2	Policy and Corporate Management in the John F. Kennedy School of Government at Harvard University
1:18.2	from 2006 to 2018. She was also a faculty member at the University of Pennsylvania Wharton School,
1:25.3	the University of Chicago Graduate School of Business,
1:28.0	and the Harvard University Economics Department.
1:31.0	She is also a research associate at the National Bureau of Economic Research and served
1:35.6	as co-director of the NBER Household Finance Working Group.
1:40.1	She received a PhD in economics from the Massachusetts Institute of Technology and studied economics as an undergraduate at BYU.
	...

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