Rui Xue|Adrian Gepp|Terence J. O’Neill|Steven Stern|Bruce Vanstone
Financial literacy and financial strategies: The mediating role of financial concerns
Macquarie University|Bond University
article analyses financial literacy elderly people affects decisions adoption various financial strategies multiple mediator models bootstrap techniques used identify mediating mechanisms financial concerns transmit effects financial literacy onto specific financial strategies find 1 financial concerns mediate majority financial literacystrategy nexuses specifically financially illiterate people likely financial concerns likely cut back spending seek job opportunities increase debts downsize sell residence result 2 financially literate people likely seek professional financial advice purchase life annuity contribute superannuation invest conservatively regardless concerns findings suggest professional advisors roboadvisor developers take account financial concerns recommending advice jel classification d14 j14 j26 i31 g11