The article discusses how public policies can affect people's decisions on saving, working, and leisure time. By extending the basic model to include these factors, the researchers found that policies can impact not only intertemporal decisions but also intratemporal choices. They highlight the importance of balancing these distortions for efficient resource allocation. Additionally, the study explores how uncertainty in lifespan and lack of annuity markets can be addressed through policy measures to provide insurance against longevity risk. Leisure consumption is influenced by human capital value, affecting individuals' productivity and wage earnings. The concept of a shadow wage is introduced to ensure optimal time allocation between work and leisure.