Abstract

http://ssrn.com/abstract=1087003
 
 

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Planning and Financial Literacy: How Do Women Fare?


Annamaria Lusardi


The George Washington University School of Business; National Bureau of Economic Research (NBER)

Olivia S. Mitchell


University of Pennsylvania - The Wharton School; National Bureau of Economic Research (NBER)

January 2008

NBER Working Paper No. w13750

Abstract:     
Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who are more vulnerable to old-age poverty due to their longer longevity. This paper uses data from a special module we devised on planning and financial literacy in the 2004 Health and Retirement Study. It shows that women display much lower levels of financial literacy than the older population as a whole. In addition, women who are less financially literate are also less likely to plan for retirement and be successful planners. These findings have important implications for policy and for programs aimed at fostering financial security at older ages.

Number of Pages in PDF File: 12

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Date posted: January 24, 2008  

Suggested Citation

Lusardi, Annamaria and Mitchell, Olivia S., Planning and Financial Literacy: How Do Women Fare? (January 2008). NBER Working Paper No. w13750. Available at SSRN: http://ssrn.com/abstract=1087003

Contact Information

Annamaria Lusardi (Contact Author)
The George Washington University School of Business ( email )
School of Business and Public Management
Washington, DC 20052
United States
HOME PAGE: http://business.gwu.edu/faculty/annamaria_lusardi.cfm
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Olivia S. Mitchell
University of Pennsylvania - The Wharton School ( email )
Philadelphia, PA 19104-6365
United States

National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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