liquid savings. We find that financial literacy is strongly predictive of having three months of liquid savings, controlling … for income, income variability, and even parental resources. We also find that financial literacy predicts liquid savings … income. Finally, financial literacy is predictive of liquid savings even among high illiquid wealth households. This suggests …

We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than …

Medium- and long-run dynamics undermine the effect of automatic enrollment and default savings-rate auto-escalation on … retirement savings. Our analysis of nine 401(k) plans incorporates the facts that employees frequently leave firms (often before …

increase retirement savings. However, gauging the relative efficacy of these approaches is challenging because the supporting … rates, active choice, and automatic enrollment) designed to increase retirement savings. Consistent with previous literature …, we find sizable effects of savings interventions on participation and cumulative contributions that increase with the …

. We find that 60% of open accounts in college 529 savings plans are invested suboptimally due to high expenses and tax … information processing frictions shape households' suboptimal investment in college savings plans and reduce their financial well-being …