Planning and Financial Literacy: How do women fare?

TitlePlanning and Financial Literacy: How do women fare?
Publication TypeReport
Year of Publication2008
AuthorsLusardi, A, Mitchell, OS
Series TitleNBER Working Paper
Document Number13750
InstitutionNational Bureau of Economic Research
CityCambridge, MA,
Call Numbernewpubs20070125_Lusardi_wp136
KeywordsNet Worth and Assets, Retirement Planning and Satisfaction, Women and Minorities

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.

Endnote Keywords

Retirement Planning/Financial Management/WOMEN

Endnote ID


Citation Key5707