Business, Management and Accounting
4 years ago

Financially illiterate older women at higher risk of old-age poverty

RePEc: Research Papers in Economics
Planning and financial literacy: How do women fare?
Annamaria Lusardi, Olivia S. Mitchell

Paper Summary

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Many older women in the US have lower financial literacy and are less likely to plan for retirement compared to the general population. This can lead to increased vulnerability to poverty in old age. Data from the 2004 Health and Retirement Study shows that women with lower financial literacy are less successful in planning for retirement. This highlights the need for policies and programs to improve financial security for older women.