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.
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 a 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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