TY  - UNPD
A1  - Lusardi, Annamaria
A1  - Mitchell, Olivia S.
A1  - Curto, Vilsa
T1  - Financial sophistication in the older population
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2012,08
N2  - 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 grasp of asset pricing, risk diversification, portfolio choice, and investment fees. Subpopulations with particular deficits include women, the least educated, persons over the age of 75, and non-Whites. In view of the fact that people are increasingly being asked to take on responsibility for their own retirement security, such lack of knowledge can have serious implications.
T3  - CFS working paper series - 2012, 08 
KW  - Financial Knowledge
KW  - Older Population
KW  - Question Framing
KW  - Male and Female Differences
KW  - Retirement Security
Y1  - 2012
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/25657
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-256577
IS  - Version February 2012
PB  - CFS
CY  - Frankfurt am Main
ER  -