Financial literacy and planning
Subtitle: implications for retirement wellbeing
By: Annamaria Lusardi, Olivia S. Mitchell
Contributors: Mitchell, Olivia S.; National Bureau of Economic Research
Series: NBER working paper series -- working paper 17078; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17078.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "The NBER Bulletin on Aging and Health provides summaries of publications like this.  You can sign up to receive the NBER Bulletin on Aging and Health by email.  Relatively little is known about why people fail to plan for retirement and whether planning and information costs might affect retirement saving patterns.  This paper reports on a purpose-built survey module on planning and financial literacy for the Health and Retirement Study which measures how people make financial plans, collect the information needed to make these plans, and implement the plans.  We show that financial illiteracy is widespread among older Americans, particularly women, minorities, and the least educated.  We also find that the financially savvy are more likely to plan and to succeed in their planning, and they rely on formal methods such as retirement calculators, retirement seminars, and financial experts, instead of family/relatives or co-workers.  These results have implications for targeted financial education efforts"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 8/18/2011.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.