Researchers use cameras to help 20-somethings save for retirement

It is a proven fact that North Americans do not save enough money for retirement as they need to in order to live a comfortable retirement.

Among many young people, retirement is decades away, and saving for it is not a top priority. But a group of marketing experts say they have devised a way to convince younger people to see the need to save for retirement.

As reported in the Christian Science Monitor newspaper, a recent article published in the Journal of Market Research suggests that if younger people saw photos of themselves as elderly, it would take them out of their immediate youth, and help them realize that one day, perhaps sooner than they realize, they will be retired.

“To people estranged from their future selves, saving is like a choice between spending money today or giving it to a stranger years from now,” the news article quoted the journal authors as saying.

The researchers who wrote the article said they used high-powered cameras to digitally alter the photos of people in their 20s, and make them appear older, and those who saw their photos as elderly were more likely to save money for their future retirement living lifestyle.