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Planning and Financial Literacy: How Do Women Fare?

Annamaria Lusardi ()

Working Papers from University of Michigan, Michigan Retirement Research Center

Abstract: This study uses data from the module on planning and financial literacy devised for the Health and Retirement Study in 2004. It finds that women display much lower levels of literacy than respondents in the total sample. Lack of literacy has implications for planning: women who are less financially literate are less likely to plan for retirement and be successful planners. These findings have important implications for policy and for programs aimed at fostering financial security. Because financial illiteracy is widespread among women, a one-time financial education seminar is unlikely to sufficiently influence planning and saving decisions. Similarly, education programs targeted specifically at women may be better suited to addressing large differences in preferences, savings needs, and financial knowledge.

New Economics Papers: this item is included in nep-edu
Date: 2006-10
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http://mrdrc.isr.umich.edu/publications/Papers/pdf/wp136.pdf (application/pdf)

Related works:
Journal Article: Planning and Financial Literacy: How Do Women Fare? (2008) Downloads
Working Paper: Planning and Financial Literacy: How Do Women Fare? (2008) Downloads
Working Paper: Planning and Financial Literacy: How Do Women Fare? (2008) Downloads
Working Paper: Planning and financial literacy: How do women fare? (2008) Downloads
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