Retirees confront the difficult problem of how to manage their money in retirement so as to not outlive their funds … allocation decisions when managing her retirement financial wealth and annuities, and we prove that she can benefit from both the … equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

How might retirees consider deploying the retirement assets accumulated in a defined contribution pension plan? One …

same time, the distribution of wealth is widely dispersed and many workers arrive on the verge of retirement with few or no … from the equity premium. Second, financial literacy is positively related to retirement planning, and the development of a …

saving rates increase in wealth, too. The key is introducing subsistence consumption to an Epstein-Zin-Weil utility function …

financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions …. Financial literacy impacts financial decision-making. Failure to plan for retirement, lack of participation in the stock market … can result in improved saving behavior and financial decision-making, much can be done to improve these programs …

: (i) the higher saving rates of the rich, (ii) the higher fraction of personal wealth held in risky assets by the rich … composition and saving rates across the rich and the poor, failing to reconcile the model with what micro data say. …

components of saving plans, do they even plan for retirement? This paper shows that financial illiteracy is widespread among the …Individuals are increasingly in charge of their own financial security after retirement. But how well-equipped are … individuals to make saving decisions; do they possess adequate financial literacy, are they informed about the most important …

. The macroeconomic data indicate that households saving has dropped significantly, although Italy continues to rank above … most other countries in terms of saving. We then examine with microeconomic data four indicators of household financial … pension system, the fall in saving is a concern, particularly for individuals who entered the labor market after the 1995 …