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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

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

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

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

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

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

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

Iras and Saving

Venti, Steven F.; Wise, David A. - 2021

expenditure for other goods and services, and about 35 percent by reduced taxes. The analysis rests on a savings decision …

Persistent link: https://www.econbiz.de/10013246390

Investor Behavior and the Purchase of Company Stock in 401(K) Plans - the Importance of Plan Design

Liang, Nellie - 2002

Using panel data for nearly 1,000 companies during 1991 to 2000, this paper documents that the average share of participant's discretionary 401(k) contributions in company stock was almost 20 percent, and then relates this share to plan design features and firm financial characteristics. We find...

Persistent link: https://www.econbiz.de/10012787121

Household Stock Market Beliefs and Learning

Kezdi, Gabor - 2011

This paper characterizes heterogeneity of the beliefs of American households about future stock market returns, provides an explanation for that heterogeneity and establishes its relationship to stock holding behavior. We find substantial belief heterogeneity that is puzzling since households...

Persistent link: https://www.econbiz.de/10013118132