TY  - UNPD
A1  - Lusardi, Annamaria
A1  - Mitchell, Olivia S.
T1  - Financial literarcy and retirement preparedness: evidence and implications for financial education programs
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2007,15
N2  - Economists are beginning to investigate the causes and consequences of financial illiteracy to better understand why retirement planning is lacking and why so many households arrive close to retirement with little or no wealth. Our review reveals that many households are unfamiliar with even the most basic economic concepts needed to make saving and investment decisions. Such financial illiteracy is widespread: the young and older people in the United States and other countries appear woefully under-informed about basic financial concepts, with serious implications for saving, retirement planning, mortgages, and other decisions. In response, governments and several nonprofit organizations have undertaken initiatives to enhance financial literacy. The experience of other countries, including a saving campaign in Japan as well as the Swedish pension privatization program, offers insights into possible roles for financial literacy and saving programs. JEL Classification: D80, D91, G11
T3  - CFS working paper series - 2007, 15 
KW  - Financial and Economics Knowledge
KW  - Retirement Seminars
KW  - Financial Decisionmaking
KW  - Haushalt
KW  - Ruhestand
KW  - Finanzplanung
Y1  - 2007
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/1613
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-38250
IS  - January 2007
ER  -