…instrumental variables, we show that these estimates probably underestimate the effects of financial literacy on retirement planning. In sum, around the world, financial literacy is critical to retirement security. …
Annamaria Lusardi has been researching financial literacy for years. She has co-authored a new working paper (abstract; PDF) with Tabea Bucher-Koenen, Rob Alessie, and Maarten van Rooij called “How Financially…
Not long ago, I wrote about the sad state of financial literacy in the U.S., and how some people, like Annamaria Lusardi of Dartmouth, are proposing widespread education to fix…
Annamaria Lusardi, one of the leading academic lights of financial literacy, has begun a new Financial Literacy Center “to develop and test innovative programs to improve financial literacy and promote…
In our latest podcast, “What Do Hand-Washing and Financial Illiteracy Have in Common?” we talked about America’s financial literacy problem, a topic we’ve written about before. In the podcast, two…
…very low in high school and not improving. Because of this evidence, some have argued against teaching financial literacy in high school (and against financial literacy education in general). In…
What’s the connection between conversations about money and financial literacy? Could the taboo against talking about your salary be fading? And why did Angie’s teenage daughter call Vanguard to learn…
What’s the connection between conversations about money and financial literacy? Could the taboo against talking about your salary be fading? And why did Angie’s teenage daughter call Vanguard to learn…
Education is the surest solution to a lot of problems. Except when it’s not.
The bad news: Roughly 70 percent of Americans are financially illiterate. The good news: All the important stuff can fit on one index card. Here’s how to become your own…
The bad news: roughly 70 percent of Americans are financially illiterate. The good news: all the important stuff can fit on one index card. Here’s how to become your own…
What do you do when smart people keep making stupid mistakes? And: are we a nation of financial illiterates? This is a “mashupdate” of “Is America Ready for a “No-Lose…
This morning, my six-year-old son Solomon was having breakfast and watching his favorite TV show, Really Wild Animals. (It’s a great show, National Geographic cinematography with quippy narration by —…
We blogged a while back about the sad state of financial literacy in this country. This has been diligently investigated by Annamaria Lusardi and Olivia S. Mitchell, who insert a…
Annamaria Lusardi, whose ground-breaking research on financial literacy has been featured here several times, has put out a new working paper (with co-authors Pierre-Carl Michaud and Olivia S. Mitchell) that…
…have a very thin cushion. So I think the biggest difference would be if we can improve financial literacy and if as a result people act based on their own…
…consider adequate financial literacy. A: Whatever the percentage, it is woefully low; but entirely predictable too. It’s hard to be literate in a subject you receive no education or training…
He argues that personal finance is so simple all you need to know can fit on an index card. How will he deal with Steve’s suggestion that Harold’s nine rules…
(Photo: Stella Benezra) Freakonomics fans will already know that financial literacy is a hot issue for researchers – it’s in everybody’s best interest to get people making better financial decisions,…
…people discount future gains and losses), loss aversion (how much the valuation of losses outweigh gains of the same magnitude), financial literacy (understanding financial information and decisions) and debt literacy…
As a topic, “shadow insurance” may have a certain MEGO quality — that’s “My Eyes Glaze Over” — but a new paper called “Shadow Insurance” (abstract; PDF) by Ralph S.J….
Annamaria Lusardi, the doyenne of financial (il)literacy reseach (she has appeared on this blog and on Freakonomics Radio), is back with more depressing news. The Wall Street Journal summarizes: In…
A reader named Philip Serghini writes in: Great podcast about financial literacy and clean hands. I’ll try to refrain from sending hate mail to the attorney who espoused not teaching…
Suze Orman If you’ve ever tried to give yourself a bit of financial literacy, you’ve probably come across something on the subject by Suze Orman. And if you’ve read some…
Also: How do you know if you have a “bad personality?”…
(Photo: 401K Calculator) We’ve banged the drum quite a bit on the need for greater financial literacy. If you care about such things, you might want to take a look…
…The economics of online dating: an economist explains the marketplace of online love. The perverse incentives of prestigious science journals. Not just a piggy bank: toys to encourage financial literacy….
…for a moment the low level of financial literacy in this country, which an economics course would certainly help; wouldn’t a principles of economics course in high school help smarten…
…provider who could put himself out of business if he does his job too well. But given the current level of, say, simple financial literacy, I doubt that is much…
A conversation with former Major League Baseball player and current E.S.P.N. analyst Mark Teixeira, recorded for the Freakonomics Radio series “The Hidden Side of Sports.”…
