Can virtual reality encourage people to save for their retirement?

Looking at your future wrinkled face you can be a massive wake up call for some.

15th August 2016
Can virtual reality encourage people to save for their retirement? (Getty)

Several years ago, a team of researchers at Stanford University, California, developed a ‘virtual reality experience’ that allowed people to look into an ‘aging mirror’ and see their future selves, aged 64 years old. Among myriad of results, the study showed participants generally allocated twice as much money towards a hypothetical savings account following the future encounter. However, there is no evidence to suggest that virtual reality had anything to do with these results other than delivering a more immersive experience.

 


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