Similar Search Results

How financially literate are women? An overview and new insights

alessie, rob; Bucher-Koenen, Tabea; Lusardi, Annamaria; … - National Bureau of Economic Research (NBER) - 2014

financial literacy has been linked to economic behavior, including retirement planning and wealth accumulation. Women live … helping them prepare for retirement and promoting their financial security. …

Persistent link: https://www.econbiz.de/10011105927

Riester Pensions in Germany: Design, Dynamics, Targetting Success and Crowding-In

Börsch-Supan, Axel H.; Coppola, Michela; Reil-Held, Anette - National Bureau of Economic Research (NBER) - 2012

than occupational pensions and unsubsidized private pension plans. Riester pension savings totaled €9.4bn in 2010 with an …

Persistent link: https://www.econbiz.de/10011227937

Time is Money: Life Cycle Rational Inertia and Delegation of Investment Management

Mitchell, Olivia; Kim, Hugh Hoikwang; Maurer, Raimond - National Bureau of Economic Research (NBER) - 2013

This paper incorporates two empirically-grounded insights into a dynamic life cycle portfolio choice model: the fact that investors forego the opportunity to accumulate job-specific skills when they spend time managing their own money, and the observation that efficiency in financial decision...

Persistent link: https://www.econbiz.de/10011210995

Visual Tools and Narratives: New Ways to Improve Financial Literacy

Lusardi, Annamaria; Samek, Anya Savikhin; Kapteyn, Arie; … - National Bureau of Economic Research (NBER) - 2014

We developed and experimentally evaluated four novel educational programs delivered online: an informational brochure, a visual interactive tool, a written narrative, and a video narrative. The programs were designed to inform people about risk diversification, an essential concept for financial...

Persistent link: https://www.econbiz.de/10010821848

Financial Knowledge and 401(k) Investment Performance

Mitchell, Olivia; Clark, Robert L.; Lusardi, Annamaria - National Bureau of Economic Research (NBER) - 2014

whether investors who are more financially knowledgeable earn more on their retirement plan investments, compared to their …

Persistent link: https://www.econbiz.de/10010774297

Saving More to Borrow Less: Experimental Evidence from Access to Formal Savings Accounts in Chile

Kast, Felipe; Pomeranz, Dina - National Bureau of Economic Research (NBER) - 2014

reducing barriers to saving through access to free savings accounts decreases participants' short-term debt by about 20%. In …-being improves significantly. Precautionary savings and credit therefore act as substitutes in providing self-insurance, and … participants prefer borrowing less when a free formal savings account is available. Take-up patterns suggest that requests by …

Persistent link: https://www.econbiz.de/10010785590

Financial Literacy, Financial Education and Economic Outcomes

Madrian, Brigitte C.; Hastings, Justine S.; Skimmyhorn, … - National Bureau of Economic Research (NBER) - 2012

In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial...

Persistent link: https://www.econbiz.de/10010785601

Time Preferences and Consumer Behavior

Heutel, Garth; Ruhm, Christopher; Bradford, David; … - National Bureau of Economic Research (NBER) - 2014

We investigate the predictive power of survey-elicited time preferences using a representative sample of US residents. In regressions controlling for demographics and risk preferences, we show that the discount factor elicited from choice experiments using multiple price lists and real payments...

Persistent link: https://www.econbiz.de/10010969216

Who Uses the Roth 401(k), and How Do They Use It?

Laibson, David; Madrian, Brigitte C.; Beshears, John; … - National Bureau of Economic Research (NBER) - 2013

Using administrative data from twelve companies that added a Roth 401(k) option between 2006 and 2010, we describe the characteristics of Roth contributions. Approximately one year after the Roth is introduced, 9% of 401(k) participants have positive Roth balances. Roth participation is more...

Persistent link: https://www.econbiz.de/10010969318

Optimal Life Cycle Portfolio Choice with Variable Annuities Offering Liquidity and Investment Downside Protection

Mitchell, Olivia; Horneff, Vanya; Maurer, Raimond; … - National Bureau of Economic Research (NBER) - 2013

We evaluate lifecycle consumption and portfolio allocation patterns resulting from access to Guaranteed Minimum Withdrawal Benefit (GMWB) variable annuities, one of the most rapidly-growing financial innovations over the last two decades. A key feature of these products is that they offer access...

Persistent link: https://www.econbiz.de/10010950840