Insight: Boosting Financial Literacy to Improve Retirement Planning
By Annamaria Lusardi
IDEAS IN THE INSIGHT YOU CAN PUT INTO ACTION
This article finds that financial literacy is strongly tied to retirement planning behavior. Unfortunately, the level of financial literacy is low, even among those close to retirement. Employers could promote workplace financial wellness programs and other initiatives to boost employees’ retirement readiness. Financial professionals and policymakers could promote school-based financial education in order to better prepare the next generation of workers.
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About the Author
ANNAMARIA LUSARDI, Annamaria Lusardi, PhD, is University Professor of Economics and Accountancy at The George Washington University. She also is the Academic Director of the Global Financial Literacy Excellence Center (GFLEC), the Director of the Italian Financial Education Committee, and a Research Fellow of the Retirement Income Institute.