Household Saving Behavior: The Role of Financial Literacy, Information, and Financial Education Programs
نویسندگان
چکیده
منابع مشابه
Household Savings Behavior in the United States: The Role of Literacy, Information, and Financial Education Programs
Americans are increasingly in charge of their own fi nancial security after retirement. With the shift from defi ned benefi t (DB) to defi ned contribution (DC) pension plans, workers have to decide not only how much to save for retirement but also how to allocate their pension wealth. Moreover, in recent decades the complexity of fi nancial instruments has increased and individuals have to dea...
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There is ample empirical evidence documenting widespread financial illiteracy and limited pension knowledge. At the same time, the net worth distribution is heavily dispersed and many workers arrive on the verge of retirement with little or no personal wealth. This paper is the first to investigate the relation between financial sophistication and household net worth relying on specific measure...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2008
ISSN: 1556-5068
DOI: 10.2139/ssrn.1094102