Shlomo Benartzi: Saving for tomorrow, tomorrow

Translator: Etrit Adami Reviewer: Dita Bytyci

I'm going to talk today about saving more,

Une do te flase sot per te kursyer me shume,

but not today, tomorrow.

por jo sot, neser.

I'm going to talk about Save More Tomorrow.

Une do te flas per Te Kursejme Me Shume Neser.

It's a program that Richard Thaler

Eshte programi qe Richard Thaler

from the University of Chicago and I

nga Universiteti i Çikagos dhe une

devised maybe 15 years ago.

qe e kemi shpikur ndoshta 15 vjet me pare.

The program, in a sense,

Ky program, nje nje menyre,

is an example of behavioral finance

eshte nje shembull i sjelljes financiare

on steroids --

ne steroide --

how we could really use behavioral finance.

se si ne vertet mundemi te perdorim sjelljen financiare.

Now you might ask, what is behavioral finance?

Tani ju mund te pyesni, cfare eshte sjellje financiare?

So let's think about how we manage our money.

Le te mendojme rreth asaj se si ne i menaxhojme parate tona.

Let's start with mortgages.

Le te fillojme me garancite hipotekore.

It's kind of a recent topic,

Eshte ceshtje e kohes se fundit,

at least in the U.S.

te pakten ne Amerike.

A lot of people buy

Shumica e njerezve blejne

the biggest house they can afford,

shtepine me te madhe qe mund te blene,

and actually slightly bigger than that.

dhe faktikisht pak me te madhe se ajo.

And then they foreclose.

Dhe me pas ata i heqin të drejtën mbi pronën e vënë në hipotekë

And then they blame the banks

Dhe me pas ata fajesojne bankat

for being the bad guys who gave them the mortgages.

qe s'jane te mira duke i dhene atyre hipoteken.

Let's also think about

Le te mendojme

how we manage risks --

si te menaxhojme riskun --

for example, investing in the stock market.

p.sh, duke investuar ne tregun e aksioneve.

Two years ago, three years ago, about four years ago,

Dy vjet me pare, tre vjet me pare, rreth pese vjet me perpara,

markets did well.

tregjet ishin mire,

We were risk takers, of course.

Ne morem persiper riskun, sigurisht.

Then market stocks seize

Tregu aksione pati nje renie

and we're like, "Wow.

dhe ne mendian "Wow.

These losses, they feel, emotionally,

Keto humbje, ata i ndjene, emocionalisht,

they feel very different

ndihen shume ndryshe

from what we actually thought about it

nga cfare ne menduam rreth kesaj

when markets were going up."

kur tregjet po ngriheshin."

So we're probably not doing a great job

Keshtu qe ne me sa duhet nuk po benin ndonje pune te padhe

when it comes to risk taking.

kur vjen puna per te marre persiper rrezikun.

How many of you have iPhones?

Sa Iphone keni ?

Anyone? Wonderful.

Ndonjeri? Shume mire.

I would bet many more of you

Une ve bast qe shumica nga ju

insure your iPhone --

siguroni telefonin tuaj --

you're implicitly buying insurance by having an extended warranty.

ju pa dyshim blini sigurimin duke pasur nje garanci te zgjatur.

What if you lose your iPhone?

Cfare ndodh nese ju humbet telefoni ?

What if you do this?

N.q.s ju beni kete?

How many of you have kids?

Sa nga ju keni femije?

Anyone?

Ndonjeri?

Keep your hands up

Mbani duart lart

if you have sufficient life insurance.

n.q.s keni sihurimin e jetes te mjaftueshem.

I see a lot of hands coming down.

Uen po shof shume duar qe ulen poshte.

I would predict,

Une do te parashikoja,

if you're a representative sample,

nqs se ti je perfaqesues per shembull,

that many more of you

qe me shume se ju

insure your iPhones than your lives,

sigurojne Iphonet sesa jeten tuaj,

even when you have kids.

madje edhe kur keni femije.

We're not doing that well when it comes to insurance.

Ne nuk po dukemi dhe aq mire kur vjen puna tek siguracioni.

The average American household

Mesatarja Amrikane e nje familje

spends 1,000 dollars a year

shpenzon 1,000 dollare ne vit

on lotteries.

per llotari.

And I know it sounds crazy.

Dhe e di qe eshte cmenduri.

How many of you spend a thousand dollars a year on lotteries?

Sa nga shpenzojne mijra dollare ne vit per llotarira?

No one.

Asnjeri.

So that tells us that the people not in this room

Kjo na tregon ne qe njerzit jo ne kete ambjent

are spending more than a thousand

shpenzojne me shume se nje mije

to get the average to a thousand.

per te arritur tek mesatarja e nje mijes.

Low-income people

Njerzit me te ardhura te vogla

spend a lot more than a thousand on lotteries.

shpenzojne shume me shume se nje mije neper llotarira.

So where does it take us?

Pra ku do te na coje kjo >

We're not doing a great job managing money.

Ne nuk po bejme ndonjepune te madhe me menaxhimin e lekut.

Behavioral finance is really a combination

Vendimet financiar eshte me te vertet nje kombinim

of psychology and economics,

i psikologjise dhe ekonomikut,

trying to understand

te arrish te kuptosh

the money mistakes people make.

gabimet qe njerzit bejne me parane.

And I can keep standing here

Dhe do te qendroj ketu

for the 12 minutes and 53 seconds that I have left

per 12 minuta dhe 53 sekonda qe me kane mbetur

and make fun of all sorts of ways

dhe te argetohetm me te gjitha menyrat e zgjedhjet

we manage money,

per menagimin e parase,

and at the end you're going to ask, "How can we help people?"

dhe ne fund ju do te me pyesni, " Si mund te ndihmojme njerzit?"

And that's what I really want to focus on today.

Dhe kjo eshte me te vertet ajo qe dua te fokusohem sot.

How do we take an understanding

Si mund kemi nje kuptim

of the money mistakes people make,

te gabimeve qe njerzit bejne me parane,

and then turning the behavioral challenges

dhe pastaj te kthejme sjelljet sfiduese

into behavioral solutions?

ne ate sjellje te zgjidhshme?

And what I'm going to talk about today

Dhe une do te flas sot rreth

is Save More Tomorrow.

programin Te Kursejme Me Shume Neser.

I want to address the issue

Dua ta drejtoj kete ceshtje

of savings.

tek kursimet.

We have on the screen

Ne kemi ne monitor

a representative sample

nje shembull tipik

of 100 Americans.

te 100 Amrikaneve.

And we're going to look at their saving behavior.

Dhe ne do te shikojme sjelljen e ketyre kursimeve.

First thing to notice is,

E para qe veme re eshte ,

half of them

qe gjysma e tyre

do not even have access

nuk kane te drejte

to a 401(k) plan.

ne nje plan 401(k).

They cannot make savings easy.

Ata nuk mund te kursejne kaq lehte.

They cannot have money go away from their paycheck

Ata nuk mund te lene t'ju ikin leket nga rroga

into a 401(k) plan

tek nje plan 401(k)

before they see it,

perpara se ta shohin ate,

before they can touch it.

perpara se ta prekin ate.

What about the remaining half of the people?

Po me gysmen tjeter te njerzve qe ngelen?

Some of them elect not to save.

Disa nga ata vendosin te mos kursejne.

They're just too lazy.

Ata jane shume pertace.

They never get around to logging into a complicated website

Ata asnjehere nuk do te logohen ne nje uebsait te komplikuar

and doing 17 clicks to join the 401(k) plan.

dhe te klikojne 17 here per t'ju bashkuar planit 401(k) .

And then they have to decide how they're going to invest

Dhe me pas ata duhet te vendosin se si do ti investojne

in their 52 choices,

ne 52 mundesite e tyre,

and they never heard about what is a money market fund.

dhe ata kurre nuk e kane degjuar cfare eshte nje depozite tregu.

And they get overwhelmed and the just don't join.

Dhe ata jane te mbingarukuar dhe ata thjesht nuk e bejene kete.

How many people end up saving to a 401(k) plan?

Sa njerez i shkojne deri ne fund planit 401(k) ?

One third of Americans.

Nje e treta e Amerikaneve.

Two thirds are not saving now.

Dy te tretat nuk kursejne sot .

Are they saving enough?

A arrijne te kursejne boll?

Take out those

Merreni me mend

who say they save too little.

kush thote qe ata po kursejne shume pak.

One out of 10

Nje nga te 10-tet

are saving enough.

a jane duke kursyer mjaft.

Nine out of 10

9-te nga 10

either cannot save through their 401(k) plan,

per me teper kursen permes planin te yre 401(k),

decide not to save -- or don't decide --

vendosin te mos kursejne-- ose nuk vendosin --

or save too little.

ose kursejne shume pak.

We think we have a problem

Ne mendojme se kemi nje problem

of people saving too much.

te njerzve qe kursejne shume.

Let's look at that.

Le te shikojme kete.

We have one person --

Ne kemi nje person --

well, actually we're going to slice him in half

ok , ne do ta ndajme ate ne gjysem

because it's less than one percent.

sepse eshte me pak se nje percend.

Roughly half a percent of Americans

Perafersisht gjysma perqind e Amerikaneve

feel that they save too much.

ndjejne qe ata kursejne shume.

What are we going to do about it?

Cfare do te bejme rreth kesaj ?

That's what I really want to focus on.

Kjo eshte vertete aty ku dua te fokusohem.

We have to understand

Ne duhet te kutojme

why people are not saving,

perse njerzit nuk po kursejne,

and then we can hopefully flip

dhe pastaj ne fatmirsisht te ndyshojme

the behavioral challenges

sjelljen dhe sfidat

into behavioral solutions,

ne nje zgjidhje te sjellure,

and then see how powerful it might be.

dhe me pas te shohim se sa e forte mund te jete.

So let me divert for a second

Me lejoni te transferoje per nje sekonde

as we're going to identify the problems,

sikurse do te gjenim problemet

the challenges, the behavioral challenges,

sfidat, sfidat e sjelljes,

that prevent people from saving.

keto i ndalojne njerzit te kursejne.

I'm going to divert and talk about bananas and chocolate.

Une do te tranferoje dhe te flas rreth bananeve dhe cokollata.

Suppose we had another wonderful TED event next week.

Te supzojme se ne bejme nje event tjeter te TED-it javen qe vjen.

And during the break

Dhe gjate pushimit

there would be a snack

do te kishte ndonje sanduic

and you could choose bananas or chocolate.

dhe qe mu d te zgjidhni bananet ose cokollatat.

How many of you think you would like to have bananas

Dhe sa nga ju do te mendonit sikur te kishit bananet

during this hypothetical TED event next week?

gjate ketij eventi hippotetik te TEd-it javen qe vjen?

Who would go for bananas?

Kush do te gjidhte bananet?

Wonderful.

E mrekullueshme.

I predict scientifically

Une parashikoj shkencerisht

74 percent of you will go for bananas.

74% nga ju do te zgjidhte bananet.

Well that's at least what one wonderful study predicted.

Dhe kjo eshte te pakten ajo qe nje nga studimet e mrekullueshme kane parashikuar.

And then count down the days

Dhe pastaj te numurojne ditet

and see what people ended up eating.

dhe te shohin cfare njerzit kane mbaruar se ngreni.

The same people that imagined themselves

Te njejtit njerz qe e imagjinuar vehten e tyre

eating the bananas

duke ngrene banane

ended up eating chocolates

mbaruan duke ngrene cokollata

a week later.

nje jave me vone.

Self-control

Vet-kontrolli

is not a problem in the future.

nuk eshte nje problem per te arshmen.

It's only a problem now

Eshte vetem problem tani

when the chocolate is next to us.

kur cokollata eshte mbs nesh .

What does it have to do with time and savings,

Cfare duhet te kete per te bere me kohen dhe kursimet,

this issue of immediate gratification?

kjo c'eshtje e plotesimit te menjehershem?

Or as some economists call it, present bias.

Ose disa ekonomiste e quajne ate, paragjykim i tanishem.

We think about saving. We know we should be saving.

Ne mendojme rreth kursimeve. Ne e dime qe duhet te kursejme.

We know we'll do it next year, but today let us go and spend.

Ne e dime qe ne do ta bejme ate vitin tjeter, por sot lete te harxhojme.

Christmas is coming,

Krishtlindjet jane duke afruar,

we might as well buy a lot of gifts for everyone we know.

ne mund shume mire te bleme shume dhurata per kedo qe njohim.

So this issue of present bias

keshtu qe kjo c'eshtje e paragykimit tone

causes us to think about saving,

shkakton tek ne per te menduar per kursimet,

but end up spending.

dhe perfundon duke i prishur ato

Let me now talk

Le te flasim tani

about another behavioral obstacle to saving

rreth nje jeter pengese ne sjellje per kusimet

having to do with inertia.

duke pasur te beje me nje inertesi.

But again, a little diversion

Por perseri, nje deviim i vogel

to the topic of organ donation.

per c'eshtjen e dhurimit te organeve.

Wonderful study comparing different countries.

Nje studim i mrekullueshem duke krakasur vende te ndryshme.

We're going to look at two similar countries,

Do te shikojme dy qytete te ngjashme,

Germany and Austria.

Gjermania dhe Austria.

And in Germany,

Dhe ne Gjermani,

if you would like to donate your organs --

nqs se ti do te dhurosh oraganet e tua --

God forbid something really bad

Zoti te falte eshte dicka e keqe

happens to you --

do te ndodhi ty --

when you get your driving license or an I.D.,

kur mer patenten ose karten e identitetit.,

you check the box saying,

ti kontrollon kutine e kursimeve,

"I would like to donate my organs."

"Une dua te dhuroj organet e mia."

Not many people like checking boxes.

Jo shume njerez i pleqejne listat.

It takes effort. You need to think.

Kerkon perpjekje. te duhet te mendohesh.

Twelve percent do.

12 % e bejne kete.

Austria, a neighboring country,

Austria, nje shtet fqinj,

slightly similar, slightly different.

lehtesisht te ngashem, pak te ndryshem.

What's the difference?

Kush eshte ndryshimi?

Well, you still have choice.

e pra, ju prape keni nje zgedhje.

You will decide

Ti do te vendosesh

whether you want to donate your organs or not.

nese do ti dhurosh organet apo jo.

But when you get your driving license,

Por kur ti merr patenten,

you check the box

ti shenon tel lista

if you do not want to donate your organ.

nqs ti nuk do qe ti dhurosh organet.

Nobody checks boxes.

Asnjeri nuk i shenon tek lista.

That's kind of too much effort.

Ky eshte nje lloj stermundimi i madh.

One percent check the box. The rest do nothing.

1% e njerzve e shenojne ate. Te tjeret nuk bejne asgje.

Doing nothing is very common.

Per te mos bere asgje eshte shume e lehte.

Not many people check boxes.

Jo shume njerzez i shenojne kutite e vogla te mundesive.

What are the implications

Cfare jane keto perpjekje

to saving lives

per te shptuar jete

and having organs available?

dhe te kesh disa oragane ne gjendje?

In Germany, 12 percent check the box.

Ne Gjermani, 12% e zgjedhin kete gje.

Twelve percent are organ donors.

12% jane organe te dhuruara.

Huge shortage of organs,

Shume sasi e paket e organeve,

God forbid, if you need one.

Zoti i perjashton, nws te duhet nje.

In Austria, again, nobody checks the box.

Ne Austri, perseri, asnjeri nuk e shenon tek lista.

Therefore, 99 percent of people

Prandaj, 99% e njerzve

are organ donors.

jane organe te dhuruara.

Inertia, lack of action.

Kjo amulli, munges e veprimit.

What is the default setting

Kush eshte kundravajtja

if people do nothing,

nqs se njerzit bejne dicka,

if they keep procrastinating, if they don't check the boxes?

nqs se ata i vonojne, nqs nuk i bejne nje zgjadhje tek lista?

Very powerful.

Shume e fuqishme.

We're going to talk

Ne do te flasim

about what happens if people are overwhelmed and scared

rreth asaj qe cfare ndodh nqs se njerzit jane te mbingarkuar dhe te friksuar

to make their 401(k) choices.

per te bere zgjedhjet e planit 401(k).

Are we going to make them automatically join the plan,

Ne do ti bejme ato ne menyre automatike per t'ju bashkuar planit,

or are they going to be left out?

ose ata do te lihen jashte >

In too many 401(k) plans,

Ne disa raste te planit 401(k),

if people do nothing,

nqs njerzit nuk bejne asgje,

it means they're not saving for retirement,

kjo do te thote qe ata nuk po kursejne per pension,

if they don't check the box.

nws se ata nuk e bejne zgjedhjen tek kutia.

And checking the box takes effort.

Dhe te shenonsh tek kutia kerkon perpjekje.

So we've chatted about a couple of behavioral challenges.

Keshtu qe ne folem rreth disa sfida e sjelljes.

One more before we flip the challenges into solutions,

Edhe njehere para se te kthejme sfidat ne zgjidhje,

having to do with monkeys and apples.

duke pasur te bejme me majmune dhe molle..

No, no, no, this is a real study

Jo, jo, jo, ky eshte nje sudim i vertete

and it's got a lot to do with behavioral economics.

dhe ka te beje shume me sjelljen ekonomike.

One group of monkeys gets an apple, they're pretty happy.

Nje grup majmunesh marrin e molle, ata jane shume te gezuar.

The other group gets two apples, one is taken away.

Grupi tjeter marrin dy molle, njera i merret.

They still have an apple left.

Atyre ju ka mbetur edhe nje.

They're really mad.

Ata jane me te verte te inatosur.

Why have you taken our apple?

Pse na i morret mollen tone?

This is the notion of loss aversion.

Ky eshte enocioni i humbjes se mospelqimit.

We hate losing stuff,

Ne merzitemi kur na humbin gjerat,

even if it doesn't mean a lot of risk.

edhe pse madje nuk ka shume rrezik.

You would hate to go to the ATM,

Do te uuroje te shkojet te ATM,

take out 100 dollars

dhe te terheqesh 100 dollare

and notice that you lost one of those $20 bills.

dhe ve re qe ti ke humbur nje nga keto biletat 20 dollareshe.

It's very painful,

Eshte shume e dhimbshme,

even though it doesn't mean anything.

megjithse, nuk do te thote gje.

Those 20 dollars might have been a quick lunch.

Keto 20 dollaremund te ishin nje dreke e shpejte.

So this notion of loss aversion

Pra ky nocion i mospeqimit

kicks in when it comes to savings too,

duket sikur te shkelmon kur vjen puna edhe per kursimet,

because people, mentally

sepse njerzit , menderisht

and emotionally and intuitively

dhe emocionalisht dhe intuitivisht

frame savings as a loss

forme e kursimit si nje humbje

because I have to cut my spending.

sepse mua me duhet te mos prishe leke.

So we talked about

Keshtu qe ne folem rreth

all sorts of behavioral challenges

te gjitha llojete sfidave te sjelljes

having to do with savings eventually.

qe kane te bjene me kursimit eventualisht.

Whether you think about immediate gratification,

Kurdo qe ti mendon rreth pelqimi te domosdoshem,

and the chocolates versus bananas,

dhe cokollatat ndryshe babanet,

it's just painful to save now.

jane te dhimbshme per ti kursyer tani.

It's a lot more fun

Eshte me shume nje loje

to spend now.

per te prishur leke tani.

We talked about inertia and organ donations

Ne folem rreth inertesise dhe dhurimit te oraganeve

and checking the box.

dhe lista per tu plotesuar.

If people have to check a lot of boxes

Nws se njerzit kane per she mbushur shume lista

to join a 401(k) plan,

per tu fuur ne planin(401k),

they're going to keep procrastinating

ata do te vazhdojne te mbajne te vonuar

and not join.

dhe te mos bashkohet.

And last, we talked about loss aversion,

Ne fund, ne folem per humbjen e mospelqimit,

and the monkeys and the apples.

dhe per majmunet dhe mollet.

If people frame mentally

Nqs se njerzit coptohen menderisht

saving for retirement as a loss,

per te kursyer per pensionin si nje humbje,

they're not going to be saving for retirement.

ata nuk do te kursejne per pensionin.

So we've got these challenges,

Keshtu, qe kemi keto sfida,

and what Richard Thaler and I

dhe cfare Richard Thaler dhe une

were always fascinated by --

jemi gjithmone te mrekulluar nga --

take behavioral finance,

marrja e sjelljes financiare,

make it behavioral finance on steroids

suke e bere sjelljen financiare mbi steroidet

or behavioral finance 2.0

ose sjelljes financiare 2.0

or behavioral finance in action --

ose sjelljes financiare ne veprim --

flip the challenges into solutions.

te ktheje sfidat ne zgjdhje.

And we came up with an embarrassingly simple solution

Dhe ne erdhem me nje ne zgjidhje jashtezakonisht te thjeshte

called Save More, not today, Tomorrow.

e quajtur Kurse Shume, jo sot, Neser.

How is it going to solve the challenges

Si do ti zgjidhe sfidat

we chatted about?

qe ne folem rreth?

If you think about the problem

Nqs mendon rreth problemit

of bananas versus chocolates,

te bananeve kunder cokollatave,

we think we're going to eat bananas next week.

ne mendojme se do shkojne te hame banane javen qe vjen.

We think we're going to save more next year.

Ne mendojme qe do e kursejme para vitin qe vjen.

Save More Tomorrow

Kurse me shume Neser

invites employees

fton puntoret

to save more maybe next year --

per te kursyer mndoshta me shume vitin tketer --

sometime in the future

disa here ne te ardhmen

when we can imagine ourselves

kur ne te imagjinojme vehten tone

eating bananas,

duke ngrene banane,

volunteering more in the community,

per te qene vullnetare me shume ne komunitet,

exercising more and doing all the right things on the planet.

duke bere me shume dhe duke bere gjerat e duhura nekete planet.

Now we also talked about checking the box

Tani ne githshtu folem rreth kutise ne listen e gjerave

and the difficulty of taking action.

dhe veshtiresia eshte per te vepruar.

Save More Tomorrow

Kurse me shune Neser

makes it easy.

beje te lehte.

It's an autopilot.

eshte si nje atuto pilot.

Once you tell me you would like to save more in the future,

Njehere me thate mua qe donit te kursenit me shume leke ne te ardhmen,

let's say every January

ke te themi ne Janar

you're going to be saving more automatically

ju do te mund te kurseni ne menyre automatike

and it's going to go away from your paycheck to the 401(k) plan

dhe do t'ju dali nga fatura e planit 401(k)

before you see it, before you touch it,

perpara se ta shifni , perpara se ta prekni ate,

before you get the issue

perpara se te vini te c'eshtja

of immediate gratification.

e kenaqsise te menjehershme.

But what are we going to do about the monkeys

Por cfare do te bejme rreth majuneve

and loss aversion?

dhe mospelqimit humbes

Next January comes

Janarin qe vjen

and people might feel that if they save more,

njerzit mund te kujtojne qe kane kursyer me shume,

they have to spend less, and that's painful.

dhe kane harxhuar me pak , dhe kjo eshte e dhimbshme.

Well, maybe it shouldn't be just January.

E pra, ndoshta nuk duhet te jete Janari.

Maybe we should make people save more

Ndoshta ne duhet ti bejme njerzit qe te kursejne me shume

when they make more money.

kur ata bejne me shume leke.

That way, when they make more money, when they get a pay raise,

Menyra , kur ata bejne leke , kur ata marrin nje ngritje rroge,

they don't have to cut their spending.

ata nuk mendojne per te ukin shpenzime e tyre.

They take a little bit

Ata marrin shume pak nga kjo rritjene faturen e shtepise

of the increase in the paycheck home

dhe shpenzojne me shume --

and spend more --

dhe shpenzojne me shume --

take a little bit of the increase

merr shume pak nga kjo ngrtje

and put it in a 401(k) plan.

dhe e fusrin tek plani 401(K).

So that is the program,

Pro ky eshte programi,

embarrassingly simple,

pa

but as we're going to see,

por sic do te shihim me vone,

extremely powerful.

jashtezakonisht i fuqishem.

We first implemented it,

Se pare ne e implementojme ate,

Richard Thaler and I,

Richard Thaler dhe Une,

back in 1998.

brapa ne 1998.

Mid-sized company in the Midwest,

Nje kompany i mesme ne Midewest,

blue collar employees

me puntore me kollare blu

struggling to pay their bills

qe perpiqen te paguajne faturat e tyre

repeatedly told us

duke e perseritur na thonin neve

they cannot save more right away.

qe ata nuk mund te kursejne para menjane.

Saving more today is not an option.

Per te kursyer sot nuk eshte nje opsion.

We invited them to save

Ne i propozuam ayre per te kursyer

three percentage points more

tre perqind te pike me shume

every time they get a pay raise.

cdo here qe ata merrin nje ngritje.

And here are the results.

Dhe ja ku jane reszultatet.

We're seeing here a three and a half-year period,

Ne jemi duke pare ketu tre dhe nje gjysem periudhe,

four pay raises,

kater nritje pagesash,

people who were struggling to save,

njerzit qe perpiqeshin te kursenin,

were saving three percent of their paycheck,

po kursenin 3 perqind te faturave te tyre,

three and a half years later

tre vjet e gjysem me vone

saving almost four times as much,

kursenin pothuajse 4 here me shume ,

almost 14 percent.

pothuajse 14 perqind.

And there's shoes and bicycles

Dhe kemi kaepuce dhe bicikleta

and things on this chart

dhe disa gjerat ne kete diagram

because I don't want to just throw numbers

sepse une nuk dua te tregoj tani vetem shifra

in a vacuum.

njehapsire.

I want, really, to think about the fact

Une dua, vertete, te mendoj rreth faktit

that saving four times more

qe kur kusen 4 here me shume

is a huge difference

eshte nje ndyshim i madh

in terms of the lifestyle

ne menyre e te jetuarit

that people will be able to afford.

qe njerzit mund te jene ne gjendje per ti marre.

It's real.

Eshte e vertet.

It's not just numbers on a piece of paper.

Nuk jane vetem numra ne nje cope letre.

Whereas with saving three percent,

Ndersa me kursimet tre perqind,

people might have to add nice sneakers

njerzit mund te kene atlete te

so they can walk,

keshtu qe ata mund te ecin,

because they won't be able to afford anything else,

sepse nuk do te jene ne gjendje per te blere ndonje gje jeter,

when they save 14 percent

kur ata kursejne 14%

they might be able to maybe have nice dress shoes

ata mund te kene mundesi te kene edhe kepuce kostumi

to walk to the car to drive.

per te ecur dhe per te rejtuar makinen.

This is a real difference.

Ky eshte nje ndryshim i madh.

By now, about 60 percent of the large companies

Por tani rreth 60% e kompanive te medhaja

actually have programs like this in place.

aktualisht kane programe te tilla ne kete vend.

It's been part of the Pension Protection Act.

Ka qene pjese e Aktit Brojtes te Pensionit.

And needless to say that Thaler and I

Dhe e pa nevojshme per te thene qe Thaleri dhe Une

have been blessed to be part of this program

jane te bekuar per te qene pjese e ketij programi

and make a difference.

dhe te bejme ndryshime.

Let me wrap

Me lejoni te perfundoj

with two key messages.

me dy mesazhe te rendesihme.

One is behavioral finance

Njera eshte veprimet financiare

is extremely powerful.

jane jashtezakonisht te fuqishme.

This is just one example.

Ky eshte vetem nje shembull.

Message two

Mesazhi dyte

is there's still a lot to do.

eshte qe ka shume per te bere.

This is really the tip of the iceberg.

Ky eshte tamam maja e ajbergut.

If you think about people and mortgages

Nqs ju mendoni rreth njerzit dhe hipotekat

and buying houses and then not being able to pay for it,

duke blere shtepi e tejpor te mos qene e mundur ti paguash ato,

we need to think about that.

ne na duhet te mendojme rreth tyre.

If you're thinking about people taking too much risk

Nqs ju jeni duke menduar rreth njerzve qe marrin shume reziqe

and not understanding how much risk they're taking

dhe qe nuk kuptojne se sa rrezik ata kane marre

or taking too little risk,

ose te duke marre pak,

we need to think about that.

ne duhet te mendojme rreth kesaj.

If you think about people spending a thousand dollars a year

Nqs ju mendoni rreth njerzve qe shpenzojne mijra dollare ne vit

on lottery tickets,

ne bileta lloratish,

we need to think about that.

ne duhet te mendojem rreth kesaj.

The average actually,

Mesatarja aktualisht,

the record is in Singapore.

rekordi eshte ne Singapore.

The average household

Mesatarja e nje pronari

spends $4,000 a year on lottery tickets.

shpenzon $4,000 nje vite per bitela llotarie.

We've got a lot to do,

Ne na duhet shume per te bere,

a lot to solve,

shume per te zgjidhur,

also in the retirement area

gjithashtu ne pjesen e pensionit

when it comes to what people do with their money

kur vjen puna se c'fare njerzit bejne me parate e tyre

after retirement.

mbas pensionit.

One last question:

Nje pyetje e fundit:

How many of you feel comfortable

Sa nga ju ndiheni te rrehatshem

that as you're planning for retirement

se qe nga momenti ju planifikoni per planin e pensionit

you have a really solid plan

ju keni nje plan te forte

when you're going to retire,

kur ju do te dilni ne pension,

when you're going to claim Social Security benefits,

kur ju do te shkoni per te kerkuar perfitimete Social Security

what lifestyle to expect,

c'fare lloj jete ju prisni,

how much to spend every month

sa shume shpenzon cdo muaj

so you're not going to run out of money?

keshtu qe ju nuk do te nglelni pa leke?

How many of you feel you have a solid plan for the future

Sa nga ju ndiejne qe kane nje plan te forte per te ardhmen

when it comes to post-retirement decisions.

kur vjen puna per vendimet e mbas-pensionit.

One, two, three, four.

Nje, dy, tre, kater.

Less than three percent

Me pak se tre perqind

of a very sophisticated audience.

e ketij auditori te sofistikuar.

Behavioral finance has a long way.

Veprimet financiare kane nje rruge te gjate.

There's a lot of opportunities

Ka shume mundesira

to make it powerful again and again and again.

per ta bere ate te fuqishem perseri dhe perseri dhe perseri.

Thank you.

Falemderit.

(Applause)

(Duartrokitje )