Chapter

The Outlook for Financial Literacy

Annamaria Lusardi and Olivia S. Mitchell

in Financial Literacy: Implications for Retirement Security and the Financial Marketplace

Published in print October 2011 | ISBN: 9780199696819
Published online January 2012 | e-ISBN: 9780191732089 | DOI: https://dx.doi.org/10.1093/acprof:oso/9780199696819.003.0001

Series: Pensions Research Council

The Outlook for Financial Literacy

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As the world becomes more financially integrated and complex, average individuals and their families are increasingly faced with making highly sophisticated and all-too-often irreversible financial decisions. Nowhere is this more evident than with regard to retirement decision-making. Indeed, the global financial crisis suggests that poor financial decision-making can have substantial costs not only for individuals but also society at large. This volume focuses on key lessons for financial decision-making in the wake of that crisis, exploring how financial literacy can enhance peoples' skills and abilities to make more informed economic choices.

Keywords: financial literacy; retirement; saving; financial education; financial decision-making; counseling; behavior

Chapter.  5359 words. 

Subjects: Pensions

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