Courtesy of Laurie Orlov

Good luck dudes -- boost savings through virtual reality.

So, as a society, we are not great savers. Some researchers think that if young people could only imagine what they would look like in the future, they might boost their savings efforts earlier in their lives. Better savings would create a better quality of life as retirements become better funded.

Scientists in a Stanford lab are experimenting with the "Proteus effect," named after the shape-shifting Greek god Proteus who changed behavior as he changed shape, to find out if seeing yourself as a senior will change your savings plan. The researchers morph a photo of a 22-year-old into an image of what she might look like at 68. She views her future self through a virtual reality headset as in a mirror. Hmm, gray-haired, face sagging, it's enough to make a 22-year-old nervous for a few minutes, long enough for her to answer questions about her attitudes on money, demonstrate a newfound awareness and desire to save. Maybe just looking at her grandmother, volunteering in an assisted living facility or making the trek to The Villages retirement subdivision would produce the same "scientific" outcome, prompting a 22-year-old to save more for retirement. The reality (real reality, not virtual)? In another poll, 18-34 year olds are more determined than older age groups to save money. It appears at least one generation is taking a look at their future retirement needs. Maybe Stanford could save a few bucks and apply its research to something more near-term, maybe how to train bankers.