Planning and financial literacy : how do women fare?

Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who ar
Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who are more vulnerable to old-age poverty due to their longer longevity. This paper uses data from a special module we devised on planning and financial literacy in the 2004 Health and Retirement Study. It shows that women display much lower levels of financial literacy than the older population as a whole. In addition, women who are less financially literate are also 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 at older ages.
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Metadaten
Author:Annamaria Lusardi, Olivia S. Mitchell
URN:urn:nbn:de:hebis:30-52384
Parent Title (German):CFS working paper series ; 2008, 03
Series (Serial Number):CFS working paper series (2008, 03)
Document Type:Working Paper
Language:English
Date of Publication (online):2008/01/29
Year of first Publication:2008
Publishing Institution:Univ.-Bibliothek Frankfurt am Main
Release Date:2008/01/29
Tag:Aging ; Financial Literacy ; Gender Issues
HeBIS PPN:195115074
Institutes:Center for Financial Studies (CFS)
Dewey Decimal Classification:330 Wirtschaft
JEL-Classification:D91 Intertemporal Consumer Choice; Life Cycle Models and Saving
Sammlungen:Universitätspublikationen
Licence (German):License Logo Veröffentlichungsvertrag für Publikationen

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