Rowena Crawford’s Work at the Institute for Fiscal Studies
In a recent episode of Adviser 3.0 The Podcast, Abraham Okusanya speaks with Rowena Crawford, Associate Director at the Institute for Fiscal Studies (IFS). Rowena shares her background and her involvement in a recent paper, When should individuals save for retirement? Predictions from an economic model of household saving behaviour.
The Lifecycle Model of Saving
The discussion explores the lifecycle model, which examines how individuals save and spend across their working lives. Rowena highlights how habits, earning patterns, and behavioural tendencies can significantly influence retirement outcomes. For advisers, this perspective offers an evidence-based framework to better understand client saving behaviour.
Student Loans, Pension Contributions and Career Earnings
Rowena and Abraham also delve into the interaction between student loans, pension contributions, and earnings growth over a career. These factors can complicate saving decisions and affect when and how individuals prioritise retirement contributions. Understanding these trade-offs can help advisers provide more tailored and realistic planning strategies.
Concerns for Retirement Saving Today
Rowena shares her single biggest concern relating to retirement: the patterns emerging in saving behaviour across generations. With challenges such as rising student debt, wage uncertainty, and shifting labour markets, ensuring adequate retirement provision has never been more complex.
Why Advisers Should Listen
For financial advisers, this episode offers a valuable academic and policy perspective on household saving. It highlights how models and evidence can complement real-world advice, helping advisers guide clients through today’s financial complexities.
To listen to the full discussion, tune in to Adviser 3.0 The Podcast or explore more insights on Timeline.
