Tabea Bucher?Koenen
Financial Literacy and Private Old-Age Provision in Germany – Evidence from SAVE 2008
Centre for European Economic Research|Max Planck Institute for Social Law and Social Policy|Max Planck Society
german population good financial knowledge measured basis three financial literacy questions around 85 individuals comprehend functioning interest inflation 60 individuals understand relationship risk diversification overall around 52 individuals give correct answers three considered questions financial literacy bivariate multivariate analyses relation giving three correct answers sociodemographic characteristics reveal higher wealth associated higher levels financial literacy moreover financial literacy relates higher levels income education significant difference men women give three correct answers individuals east west equally literate controlling differences income wealth education