Business, Management and Accounting
4 years ago

Financially literate individuals more likely to be retirement-ready, study finds.

Quarterly Journal of Finance
How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness
Annamaria Lusardi, Olivia S. Mitchell

Paper Summary

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The study looked at how well people understand money matters and if this affects how well they plan for retirement. They found that those who know more about finances are more likely to be ready for retirement.