I think the people who've been the most overconfident in our business in the last decade have been the people that called themselves risk managers.

People exaggerate their own skills. they are optimistic about their prospects and overconfident about their guesses, including which managers to pick.

The lesson from behavioral economics is that people only save if it's automatic.

So, what's a nudge? A nudge is some small feature of the environment that attracts our attention and alters our behavior.

Is there a market for somebody selling a credit card that helps people pay down their balances? I think the question is yes. But it would have to be sold by a bank that's really willing to invest in being a trusted partner with its consumers, because they will make less money on each consumer.

My mantra is if you want to help people accomplish some goal, make it easy.

People worry that if they buy an annuity and then die before the policy starts to pay off, their heirs will lose out. I tell them, "What you should be more worried about is if you outlive your money, you will have to move in with your kids. Ask your kids which of these outcomes they are more worried about."