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How Financial Literacy and Impatience Shape Retirement Wealth and Investment Behaviors
Hastings, Justine S. - 2011
Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could...
Persistent link: https://www.econbiz.de/10013130966
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Financial Literacy, Retirement Planning, and Household Wealth
van Rooij, Maarten - 2011
savings plan has been shown to boost wealth. Overall, financial literacy, both directly and indirectly, is found to have a …
Persistent link: https://www.econbiz.de/10013121050
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Financial Literacy, Retirement Preparation and Pension Expectations in the Netherlands
Alessie, Rob J. M. - 2011
We present new evidence on financial literacy and retirement preparation in the Netherlands based on two surveys conducted before and after the onset of the financial crisis. We document that while financial knowledge did not increase from 2005 to 2010, significantly more individuals planned for...
Persistent link: https://www.econbiz.de/10013124236
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Financial Literacy and Retirement Planning in Germany
Bucher-Koenen, Tabea - 2011
We examine financial literacy in Germany using data from the SAVE survey. We find that knowledge of basic financial concepts is lacking among women, the less educated, and those living in East Germany. In particular, those with low education and low income in East Germany have little financial...
Persistent link: https://www.econbiz.de/10013123985
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Financial Literacy and Retirement Planning in the United States
Lusardi, Annamaria - 2011
We examine financial literacy in the United States using the new National Financial Capability Study, wherein we demonstrate that financial literacy is particularly low among the young, women, and the less-educated. Moreover, Hispanics and African-Americans score the least well on financial...
Persistent link: https://www.econbiz.de/10013124228
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Financial Literacy and Planning : Implications for Retirement Wellbeing
Lusardi, Annamaria - 2011
Relatively little is known about why people fail to plan for retirement and whether planning and information costs might affect retirement saving patterns. This paper reports on a purpose-built survey module on planning and financial literacy for the Health and Retirement Study which measures...
Persistent link: https://www.econbiz.de/10013124838
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Aging, Saving, and Public Pensions in Japan
Horioka, Charles Yuji - 2007
We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan's population can explain the level of, and past and...
Persistent link: https://www.econbiz.de/10012776458
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Pension Funding, Share Prices, and National Saving
Feldstein, Martin S. - 2004
and an incentive to save more themselves. For this reason, unfunded private pensions differ fundamentally from the … unfunded Social Security pension and the other unfunded federal government civilian and military pensions …
Persistent link: https://www.econbiz.de/10012786263
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Social Security Expectations and Retirement Savings Decisions
Dominitz, Jeff - 2002
Retirement savings decisions should depend on expectations of Social Security retirement income. Persons may be … savings …
Persistent link: https://www.econbiz.de/10012787376
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Demographic Change, Social Security Systems, and Savings
Bloom, David E. - 2010
little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …
Persistent link: https://www.econbiz.de/10012760611