first step the decision to save at all is analyzed, showing that the main determinants for saving are personal income as … saving rate. Modelling both decisions separately therefore leads to a better understanding of the determinants of saving for …

, the state of the labor market, the level of accumulated wealth, the rate of urbanization, and the level of development of …

) for individuals' wealth accumulation. Using survey data from the German SAVE initiative, we find strong gender- and … education-related differences in the distribution of the two variables and their effects on wealth: As financial literacy rises … become strongly underconfident with higher education, while men remain overconfident. Regarding wealth accumulation, we show …