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Top tier Universities conducted a study on adult savings habits, reaching the conclusion that people today are well aware that they are not on top of their savings, and prefer having accounts that would impose self control on their behaviors.
In theory having access to hard-saved cash might feel like a smart safety net, but taking it out now means that families lose out in the long run—especially since they’ll miss the compounding interest that accrues in long-term savings accounts. Capitalism may be helpful when it comes to providing people with choices, but saving for retirement is a case where fewer options may be what people actually want.
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