Relatively little is known about why people fail to plan for retirement and whether planning and information costs might affect retirement saving patterns. This chapter reports on a purpose-built survey module on planning and financial literacy for the Health and Retirement Study which measures...

This paper examines financial literacy in the United States, using the 2021 National Financial Capability Study data. A large volume of papers have demonstrated the importance of financial knowledge and documented the low level of financial literacy in America. Using recent data collected during...

"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. Relatively little is known about why people fail to plan for retirement and whether planning and information costs might affect...

"Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy...