We study a new and unique data set of daily aggregate transfers of funds between mutual funds held in 401(k) accounts. We find that 401(k) transfers correlate strongly and positively with contemporaneous daily returns in the corresponding asset class. GMM estimation based on the...

We implement a customized survey to a representative sample of 1,024 Australians to examine the relationship between financial literacy and retirement planning. Overall we find aggregate levels of financial literacy similar to comparable countries with the young, least educated, unemployed and...

Based on temporal construal theory, the length of time a person has before they reach retirement age will influence how they react to different types of messages. This theory predicts younger workers prefer more abstract communications compared to older workers who should prefer more concrete...