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Myopic savings behaviour of future Polish pensioners
Buchholtz, Sonia; Gąska, Jan; Góra, Marek - In: Risks : open access journal 9 (2021) 2/36, pp. 1-19
-best strategy, we examine alternative options with principal component analysis. Future retirees rarely accumulate long-term savings …, do not use dedicated instruments, and they start to save additionally far too late. Savings are concentrated in wealthier …
Persistent link: https://www.econbiz.de/10012426994
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Wealth Accumulation and the Propensity to Plan
Ameriks, John; Caplin, Andrew; Leahy, John V. - 2021
Why do similar households end up with very different levels of wealth? We show that differences in the attitudes and skills with which they approach financial planning are a significant factor. We use new and unique survey data to assess these differences and to measure each household's...
Persistent link: https://www.econbiz.de/10013227735
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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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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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The Size and Composition of Wealth Holdings in the United States, Italy, and the Netherlands
Kapteyn, Arie; Panis, Constantijn - 2021
This paper analyzes retirement saving and portfolio choice in the United States, Italy, and the Netherlands. While these countries enjoy roughly the same standard of living, they vary widely in their institutional organization of retirement income provisions. Building on extensions of the life...
Persistent link: https://www.econbiz.de/10013230997
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The impact of guarantees on the performance of pension saving schemes : insights from the literature
Bohnert, Alexander - In: Risks : open access journal 3 (2015) 4, pp. 515-542
Guarantees are often seen as the key characteristics of pension saving products, but securing them can become costly and is of central relevance especially in the course of the current low interest rate environment. In this article, we deal with the question of how costly the typical types of...
Persistent link: https://www.econbiz.de/10011402676
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Behavioral Economics Perspectives on Public Sector Pension Plans
Beshears, John - 2011
private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have … shifted towards defined contribution (DC) plans as their primary savings plan, and fiscal pressures are likely to generate … retirement in other accounts. There is also substantial heterogeneity across jurisdictions in the savings generated in primary DC …
Persistent link: https://www.econbiz.de/10013130979