Annamaria Lusardi
Household Saving Behavior: The Role of Financial Literacy, Information, and Financial Education Programs
George Washington University|National Bureau of Economic Research
individuals increasingly charge financial security retirement wellequipped individuals make saving decisions possess adequate financial literacy informed important components saving plans even plan retirement paper shows financial illiteracy widespread among us population particularly acute among specific demographic groups low education women africanamericans hispanics moreover close half older workers know type pensions large majority workers know little rules governing social security benefits notwithstanding low levels literacy many individuals display rely help experts financial advisors make saving investment decisions low literacy lack information affect ability save secure comfortable retirement ignorance basic financial concepts linked lack retirement planning lack wealth financial education programs help improve saving financial decisionmaking much done improve effectiveness programs