Scientific studies have proven that when it comes to planning for the future, birds aren’t really birdbrained at all.

Research has shown birds plan ahead in ways that indicate forethought and logic.

Scrub jays, for example, are quite methodical in putting away food for a rainy day. These birds are able to plan for the future in ways that are very different from the seasonal-induced behavior often seen in animals.

If only we humans exhibited similar traits for planning ahead. Economists say too many Baby Boomers are racing to retirement with no nest eggs to speak of.

Americans are typically among the world’s most cash-strapped people. Surveys conducted before the 2008 economic downturn found nearly 22% of Americans had no money left in their bank accounts once they’ve paid for their frills and covered their bills.

The Great Recession and now the COVID-19 pandemic have forced many Americans to pay down their debts and reduce spending, but stagnant wages have left little to apply to savings.

Economists say intelligence is no barometer of financial acumen. In fact, researchers say people who have higher IQs might even have characteristics that often prevent long-term prosperity.

People who fall in the middle of the intelligence spectrum tend to have the fewest money problems.

On the other hand, while brainier individuals do generally have higher incomes, they don’t necessarily save a lot of what they earn. That’s an important point because saving is a key factor in building wealth.

There are things Americans can do, regardless of their IQs, to feather their nests for retirement. Financial planners recommend Americans put at least 10% of their incomes into some sort of long-term savings plan.

If you are employed and belong to a retirement fund, your contributions will increase automatically in proportion to your pay raises. Investment counselors say this will help ensure that you stay well ahead of inflation.

Finally, it’s important to remember that it is never wise to put all your eggs into one basket. Be sure to diversify your investments to make sure you don’t lose everything if one investment turns sour.

Recommended Videos