investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy … model shows that financial literacy and wealth are determined jointly, and are positively correlated over the life cycle … aggregate data, we find a strong effect of financial literacy on wealth accumulation and national saving, and also show that …

wealth between a safe and a risky asset, and receive a pension when they retire. Financial literacy affects the excess return … returns on risky assets and the stock market participation cost, and the returns on social security wealth. The model implies … the individual's wealth and portfolio allocations later in life. Using microeconomic cross-country data, we find support …

savings plan has been shown to boost wealth. Overall, financial literacy, both directly and indirectly, is found to have a … strong link to household wealth. -- Financial Education ; Savings and Wealth Accumulation ; Retirement Preparation … same time, the distribution of wealth is widely dispersed and many workers arrive on the verge of retirement with few or no …