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Lower-Income Employees Are More Likely to Remain at 401(k) Defaults, Even If It Costs Them Money

Automatically enrolling employees in retirement plans is a powerful tool for increasing savings. But Yale SOM’s James Choi and his coauthors find that once enrolled, people with lower incomes are more likely to remain at default contribution rates, even if they aren’t optimal.

An illustration of currency being cut in half as it is put into a piggy bank
  • The Business of ‘Anti-Woke’ Is Falling Flat

    Yale SOM’s Jeffrey Sonnenfeld and Steven Tian write that the exchange-traded funds that boycott companies taking action on social issues are underperforming the market and struggling to find investors.

    Vivek Ramaswamy at the Vision 2024 National Conservative Forum in Charleston, South Carolina, in March 2023. 
  • Why Connecticut’s Investments Are Underperforming

    Yale SOM’s Jeffrey Sonnenfeld and Steven Tian and their team found that Connecticut’s return on its pension fund investments is among the worst in the nation. Their analysis of all 50 states offers some avenues for improvement.

    The Connecticut State Capitol in Hartford with dark clouds in the sky
  • A Yale Economist Read 50 Personal Finance Books. He’s Got Some Notes.

    Personal finance gurus frequently depart from conventional economic wisdom, Yale SOM’s James Choi discovered, but their advice isn’t all bad.

    An illustration of someone sheltering himself from a financial story with a personal finance book
  • Navigating a New Now: Investing in ‘Tough Tech’

    A venture fund led by Katie Rae ’97 was providing the patient capital required for breakthroughs on major societal problems like climate change and community health. Then COVID-19 complicated their day-to-day work—and gave their efforts greater urgency.

    Masked scientists and technicians working on various projects
  • Keeping Community in the Investment Equation

    In this series, leaders tell stories about drawing on their core values in critical moments. For Lofton Holder ’90, grounding investing acumen in a connection to community builds trust and delivers returns.

    A man sitting at a table on the street in New York City
  • A Passionate Startup Pitch Is Powerful—But Can Be Misleading

    According to a new study co-authored by Yale SOM’s Song Ma, those with cheerful and enthusiastic presentations are more likely to get venture capital funding—and less likely to build successful ventures.

    An illustration of an entrepreneur leaping in the air and wearing pom-poms while presenting
  • Does A Mutual Fund’s Past Performance Predict Its Future?

    A classic 1997 paper on mutual fund performance doesn’t describe present-day markets, Yale SOM's James Choi found.

    A road disappearing into fog
  • Investing in Vietnam’s Future

    Venture capitalist Eddie Thai ’12 says that the pandemic is doing economic damage to Vietnam’s globalization-driven tech sector, even as some companies in his portfolio see their valuations grow.

    An illustration showing volatile financial results through boats on the ocean
  • What the Plunge in the Stock Market Means for Individual Investors

    We asked Yale SOM’s James Choi, who has examined the implications of academic research for personal finance, what studies say about how to respond to a market crash.

    A display at the New York Stock Exchange at the end of trading on March 12, 2020. Photo: Bryan R. Smith/AFP via Getty Images.
  • Aspiring to Be the Next Silicon Valley? Think Twice

    A study by Yale SOM researchers suggests that when venture capital funding in a metropolitan area increases, industries with customers outside the region suffer and income inequality widens.

    Silicon Valley in evening