Investors must keep in mind that there's a difference between a good company and a good stock. After all, you can buy a good car but pay too much for it.

If people just put away what's left at the end of the month, that's a recipe for failure.

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

Most people start claiming benefits within a year of when they become eligible, although benefits increase substantially if they wait.

When should we nudge and when should we shove, I think, it's a political judgment. Obviously in some situations we need shoves, we need laws. Fraud is against the law, murder is against the law, drunk-driving is against the law. We don't need just nudges.

I'm all for empowerment and education, but the empirical evidence is that it doesn't work. That's why I say make it easy.

Recall that people like to do what most people think it is right to do; recall too that people like to do what most people actually do.