Planning and Financial Literacy: How Do Women Fare?

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dc.contributor.authorLusardi, Annamaria
dc.contributor.authorMitchell, Olivia S
dc.date2023-05-17T23:15:00.000
dc.date.accessioned2023-05-23T00:31:55Z
dc.date.available2023-05-23T00:31:55Z
dc.date.issued2007-08-01
dc.date.submitted2019-12-16T12:52:09-08:00
dc.description.abstractMany 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. The evidence indicates 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.
dc.description.commentsThe research reported herein was pursuant to a grant from the US Social Security Administration (SSA) funded as part of the Retirement Research Consortium (RRC); research support was also provided by the Pension Research Council and Boettner Center at the Wharton School. Financial support was also provided by the Pension Research Council and the Boettner Center at The Wharton School of the University of Pennsylvania.
dc.description.statementofresponsibilityWithout implicating them, we are grateful for comments provided by Alan Gustman and participants at the April 2006 MRRC researcher workshop.
dc.identifier.urihttps://repository.upenn.edu/handle/20.500.14332/43939
dc.legacy.articleid1560
dc.legacy.fulltexturlhttps://repository.upenn.edu/cgi/viewcontent.cgi?article=1560&context=prc_papers&unstamped=1
dc.rightsOpinions and errors are solely those of the authors and not of the institutions with whom the authors are affiliated. The findings and conclusions of this paper do not represent the views of the SSA, any agency of the Federal Government, the RRC, or any other institutions with which the authors may be affiliated. ©2007 Lusardi and Mitchell. All rights reserved. © 2007 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.
dc.source.issue556
dc.source.issueWP2007-17
dc.source.journalWharton Pension Research Council Working Papers
dc.source.statuspublished
dc.subject.otherwomen
dc.subject.otherfinancial literacy
dc.subject.otherretirement planning
dc.subject.otherEconomics
dc.titlePlanning and Financial Literacy: How Do Women Fare?
dc.typeWorking Paper
digcom.contributor.authorLusardi, Annamaria
digcom.contributor.authorisAuthorOfPublication|email:mitchelo@wharton.upenn.edu|institution:The Wharton School, Univ. of PA|Mitchell, Olivia S
digcom.identifierprc_papers/556
digcom.identifier.contextkey16016718
digcom.identifier.submissionpathprc_papers/556
digcom.typeworkingpaper
dspace.entity.typePublication
relation.isAuthorOfPublication35f0f29e-9f02-491f-b958-1434c5d08b00
relation.isAuthorOfPublication.latestForDiscovery35f0f29e-9f02-491f-b958-1434c5d08b00
upenn.schoolDepartmentCenterWharton Pension Research Council Working Papers
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