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Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth
Lusardi, Annamaria; Mitchell, Olivia S. - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though … Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to …
Persistent link: https://www.econbiz.de/10010298334
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Saving rates and portfolio choice with subsistence consumption
Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - 2011
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...
Persistent link: https://www.econbiz.de/10010308579
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Stockholding: From participation to location and to participation spillovers
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - 2009
This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes, and participation spillovers, using data from the US Survey of Consumer Finances. Our multivariate choice model matches observed participation rates, conditional and...
Persistent link: https://www.econbiz.de/10010303708
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Early life conditions and financial risk-taking in older age
Christelis, Dimitris; Dobrescu, Loretti I.; Motta, Alberto - 2011
Using life-history survey data from eleven European countries, we investigate whether childhood conditions, such as socioeconomic status, cognitive abilities and health problems influence portfolio choice and risk attitudes later in life. After controlling for the corresponding conditions in...
Persistent link: https://www.econbiz.de/10010308548
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Simplifying Choices in Defined Contribution Retirement Plan Design : A Case Study
Keim, Donald B. - 2018
The growth and popularity of defined contribution pensions, along with the government's increasing attention to retirement plan costs and investment choices provided, make it important to understand how people select their retirement plan investments. This paper shows how employees in a large...
Persistent link: https://www.econbiz.de/10012932802
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Financial literacy and suboptimal financial decisions at older ages
Fong, Joelle H.; Koh, Benedict SK.; Mitchell, Olivia S.; … - 2019
financial and investment behaviors: credit card debt repayment, stock market participation, and adherence to age …-based investment glide paths. We found that the majority of respondents age 50+ has some grasp of concepts such as interest compounding ….3 percentage point greater propensity to hold stocks, and a 1.7 percentage point higher likelihood of following an age …
Persistent link: https://www.econbiz.de/10012113846
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Differences in euro-area household finances and their relevance for monetary-policy transmission
Hintermaier, Thomas; Koeniger, Winfried - 2019
substantially across countries, and within countries by household characteristics such as age, housing tenure, and asset positions …
Persistent link: https://www.econbiz.de/10012129430
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Increasing the effectiveness of financial education in the workplace
Lusardi, Annamaria - 2008
Persistent link: https://www.econbiz.de/10010298401
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Financial literacy: An essential tool for informed consumer choice?
Lusardi, Annamaria - 2008
Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy...
Persistent link: https://www.econbiz.de/10010298402
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Debt literacy, financial experiences, and overindebtedness
Lusardi, Annamaria; Tufano, Peter - 2009
We analyze a national sample of Americans with respect to their debt literacy, financial experiences, and their judgments about the extent of their indebtedness. Debt literacy is measured by questions testing knowledge of fundamental concepts related to debt and by selfassessed financial...
Persistent link: https://www.econbiz.de/10010303723