EconPapers    
Economics at your fingertips  
 

Financial literacy and retirement planning in the Netherlands

Maarten van Rooij (), Annamaria Lusardi () and Rob Alessie ()

Journal of Economic Psychology, 2011, vol. 32, issue 4, 593-608

Abstract: The complexity of financial decisions that households now face has increased to unprecedented levels. At the same time, households seem to lack the financial knowledge to cope with these decisions, including how to save and invest adequately for retirement. In this paper, we examine the relationship between financial knowledge and retirement planning in the Netherlands. For this purpose, we have designed a module on financial literacy and planning for the De Nederlandsche Bank (DNB) Household Survey. We find a strong and positive relationship between financial knowledge and retirement planning; those who are more financially knowledgeable are more likely to plan for retirement. Using information on economics education acquired in school, we show that the nexus of causality goes from financial literacy to planning rather than the other way around.

Keywords: Thinking; about; retirement; Knowledge; of; finance; and; economics; Financial; sophistication; Economics; courses; in; school (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0167487011000195
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Financial Literacy and Retirement Planning in the Netherlands (2009) Downloads
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:eee:joepsy:v:32:y:2011:i:4:p:593-608

Access Statistics for this article

Journal of Economic Psychology is currently edited by G. Antonides and D. Read

More articles in Journal of Economic Psychology from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-06-17
Handle: RePEc:eee:joepsy:v:32:y:2011:i:4:p:593-608