Similar Search Results

The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007

, whereas debt declined most (so saving rose most) for unconstrained consumers. More generally, the results suggest that there …

Persistent link: https://www.econbiz.de/10010986371

Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2006

We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though Boomers rely more on housing equity than their...

Persistent link: https://www.econbiz.de/10010958739

Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy,and Housing Wealth

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2006

Persistent link: https://www.econbiz.de/10005022447

Financial literacy among the young: Evidence and implications for consumer policy

Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa - Center for Financial Studies - 2010

We examined financial literacy among the young using the most recent wave of the 1997 National Longitudinal Survey of Youth. We showed that financial literacy is low; fewer than one-third of young adults possess basic knowledge of interest rates, inflation, and risk diversification. Financial...

Persistent link: https://www.econbiz.de/10010958593

How ordinary consumers make complex economic decisions: Financial literacy and retirement readiness

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2010

This paper explores who is financially literate, whether people accurately perceive their own economic decision-making skills, and where these skills come from. Self-assessed and objective measures of financial literacy can be linked to consumers' efforts to plan for retirement in the American...

Persistent link: https://www.econbiz.de/10010958714

Financial literacy and retirement preparedness: Evidence and implications for financial education programs

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007

that many households are unfamiliar with even the most basic economic concepts needed to make saving and investment … woefully under-informed about basic financial concepts, with serious implications for saving, retirement planning, mortgages … financial literacy. The experience of other countries, including a saving campaign in Japan as well as the Swedish pension …

Persistent link: https://www.econbiz.de/10010958719

Financial sophistication in the older population

Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa - Center for Financial Studies - 2012

This paper examines data on financial sophistication among the U.S. older population, using a special-purpose module implemented in the Health and Retirement Study. We show that financial sophistication is deficient for older respondents (aged 55+). Specifically, many in this group lack a basic...

Persistent link: https://www.econbiz.de/10010958727

Planning and financial literacy: How do women fare?

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2008

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...

Persistent link: https://www.econbiz.de/10010958756

Financial literacy and retirement planning: New evidence from the Rand American Life Panel

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007

The present paper introduces a new dataset, the Rand American Life Panel (ALP), which offers several appealing features for an analysis of financial literacy and retirement planning. It allows us to evaluate financial knowledge during workers prime earning years when they are making key...

Persistent link: https://www.econbiz.de/10010986360