Intergenerational Transfer of Financial Literacy

32 Pages Posted: 26 Apr 2013

See all articles by Bob Lissington

Bob Lissington

Massey University - School of Economics and Finance

Claire D. Matthews

Massey University - School of Economics and Finance

Date Written: October 31, 2012

Abstract

Financial literacy levels are the focus of increasing concern around the world. One way in which financial literacy is gained is via intergenerational transfer from one’s parents and grandparents, but it is unknown to what extent this is occurring. This paper reports the results of a series of interviews with high net worth individual. We find that the intergenerational transfer of financial literacy is less formal than might be expected in high net worth families, and tends to be via observation and experience rather than formal passing on of knowledge. We also find that despite concerns about the ability of their intended heirs to manage their expected inheritance, only a small proportion take some form of action to deal with those concerns.

Keywords: Financial literacy, Inter-generational, New Zealand

JEL Classification: D14

Suggested Citation

Lissington, Robert and Matthews, Claire D., Intergenerational Transfer of Financial Literacy (October 31, 2012). Available at SSRN: https://ssrn.com/abstract=2256791 or http://dx.doi.org/10.2139/ssrn.2256791

Robert Lissington

Massey University - School of Economics and Finance ( email )

Private Bag 11-222
Palmerston North, 30974
New Zealand

Claire D. Matthews (Contact Author)

Massey University - School of Economics and Finance ( email )

Private Bag 11-222
Palmerston North, 30974
New Zealand

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
78
Abstract Views
1,463
rank
417,450
PlumX Metrics