Olivia S. Mitchell|Annamaria Lusardi|Vilsa Curto
Financial Literacy Among the Young: Evidence and Implications for Consumer Policy
National Bureau of Economic Research|University of Pennsylvania|George Washington University|National Bureau of Economic Research|National Bureau of Economic Research
examined financial literacy among young using data 1997 national longitudinal survey youth showed financial literacy low among young fewer onethird young adults possess basic knowledge interest rates inflation risk diversification financial literacy strongly related sociodemographic characteristics family financial sophistication specifically collegeeducated male whose parents stocks retirement savings 50 percentage points likely know risk diversification female less high school education whose parents wealthy findings implications consumer policy