Financial literacy and retirement planning in the United States*
Annamaria Lusardi () and
Olivia Mitchell
Journal of Pension Economics and Finance, 2011, vol. 10, issue 4, 509-525
Abstract:
We examine financial literacy in the US using the new National Financial Capability Study, wherein we demonstrate that financial literacy is particularly low among the young, women, and the less-educated. Moreover, Hispanics and African-Americans score the least well on financial literacy concepts. Interestingly, all groups rate themselves as rather well-informed about financial matters, notwithstanding their actual performance on the key literacy questions. Finally, we show that people who score higher on the financial literacy questions are much more likely to plan for retirement, which is likely to leave them better positioned for old age. Our results will inform those seeking to target financial literacy programmes to those in most need.
Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (171)
Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)
Related works:
Working Paper: Financial Literacy and Retirement Planning in the United States (2011) 
Working Paper: Financial Literacy and Retirement Planning in the United States (2011) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:10:y:2011:i:04:p:509-525_00
Access Statistics for this article
More articles in Journal of Pension Economics and Finance from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().