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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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Individual Financial Decisions in Retirement Saving Plans and the Provision of Resources for Retirement
Poterba, James M. - 2000
Proposals for mandatory private saving accounts differ in the degree of investment discretion that they provide to individual savers, and in their provisions for annuitization of accumulated assets. With respect to investment choices, some argue that individuals must be prevented from investing...
Persistent link: https://www.econbiz.de/10012789302
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How Much to Save? Decision Costs and Retirement Plan Participation
Goldin, Jacob; Homonoff, Tatiana Alexandra; Patterson, … - 2022
Deciding how much to save for retirement can be complicated. Drawing on a field experiment conducted with the Department of Defense, we study whether such complexity depresses participation in an employer-sponsored retirement saving plan. We find that simplifying one dimension of the enrollment...
Persistent link: https://www.econbiz.de/10013290384
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Household Saving Behavior : The Role of Financial Literacy, Information, and Financial Education Programs
Lusardi, Annamaria - 2008
, African-Americans, and Hispanics. Moreover, close to half of older workers do not know which type of pensions they have and …
Persistent link: https://www.econbiz.de/10012772702
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Individual Retirement Accounts : A Review of the Evidence
Skinner, Jonathan S. - 2008
Recent legislative proposals have included restoring Individual Retirement Accounts (IRAs) to their pre-1987 eligibility rules. Whether IRAs are simply tax windfalls with no effect on saving, or whether IRAs stimulate saving, is a crucial issue in evaluating the effectiveness of such proposals....
Persistent link: https://www.econbiz.de/10012774754
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Sources of Ira Saving
Feenberg, Daniel R. - 2004
To address the question of whether IRA5 contribute to capital formation, we use the IRS/University of Michigan taxpayer sample for income tax returns during 1980-84. By matching families across a five-year period, we can estimate the dynamic interactions of IRA purchases and other types of...
Persistent link: https://www.econbiz.de/10012786038
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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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The Effects of Tax-Based Saving Incentives on Government Revenue and National Saving
Feldstein, Martin S. - 2010
This paper shows that previous analyses of IRA-type plans have miscalculated their effect on tax revenue and therefore on national saving by ignoring their impact on corporate tax payments. Recognizing the important effect of IRA plans on corporate tax revenue changes previous conclusions about...
Persistent link: https://www.econbiz.de/10012760147
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Have Iras Increased U.S. Saving? : Evidence from Consumer Expenditure Surveys
Venti, Steven F.; Wise, David A. - 2021
The vast majority of Individual Retirement Account contributions represent net new saving, based on evidence from the quarterly Consumer Expenditure Surveys (CES). The results are based on analysis of the relationship between IRA contributions and other financial asset saving. The data show...
Persistent link: https://www.econbiz.de/10013218431
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Defined Contribution Pensions : Plan Rules, Participant Decisions, and the Path of Least Resistance
Choi, James J.; Laibson, David; Madrian, Brigitte C.; … - 2021
We assess the impact on savings behavior of several different 401(k) plan features, including automatic enrollment … education. We also present new survey evidence on individual savings adequacy. Many of our conclusions are based on an analysis … of micro-level administrative data on the 401(k) savings behavior of employees in several large corporations that …
Persistent link: https://www.econbiz.de/10013245508