Using data from the Panel Study of Income Dynamics, this paper broadens the analysis of retirement savings by examining … retirement and on how much retirement savings is accumulated. The presence of children in the household generally reduces the … probability of saving for retirement. Poor personal or parental health diminishes retirement savings outcomes. Altruistic behavior …

homeownership are less likely to have college savings. Households who are willing to take financial risks and those with higher …-pricing literacy are the only components of financial literacy that are associated with a higher probability of college savings, the …

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 …

indicators, emphasizing the subjective nature of well-being. The research objective is to investigate how savings and personal … financial literacy. Research methodology - the research investigates the impact of savings and personal budgeting indicators on … per capita). We applied Pearson's pairwise correlation between nine indicators of personal budgeting and savings and the …