Financial Literacy and Retirement Planning in Australia
By Julie R. Agnew, Hazel Bateman, Susan Thorp. 2013
145 citations recorded by the source corpus.
Financial literacy and numeracy are closely tied. Furthermore, financial literacy has been shown to relate to important financial behaviors. This study examines the relationship between financial literacy and retirement planning using a measure that includes questions requiring numeracy. We implement a customized survey to a representative sample of 1,024 Australians. Overall, we find aggregate levels of financial literacy similar to comparable countries with the young, least educated, those not employed, and those not in the labor force most at risk. Our financial literacy measure is positively related to retirement planning in our sample.
Subfields: Accounting, Demography, General Health Professions
View Paper: https://www.semanticscholar.org/paper/14339e5e1378dd84607616b4097822d815746042
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Citations in the corpus
- Financial Sophistication in the Older Population (2012, unknown): “See also Agnew et al. (2012) for related research in Australia.”
- What determines financial literacy in Japan? (2019, background): “, 2017), Switzerland (Brown and Graf, 2013), and Australia (Agnew et al., 2013). Although many previous studies have focused on the link between financial literacy and savings and investment decisions, relatively few examine the factors that affect financial literacy. Two recent studies of the inter”
- Determinants and Impacts of Financial Literacy in Cambodia and Viet Nam (2019, result): “This is consistent with all other studies that use IVs for financial literacy, regardless of instruments, to calculate financial literacy scores such as Agnew et al. (2013), and Bucher-Koenen and Lusardi (2011). According to Lusardi and Mitchell (2014), the true effect of financial literacy seems to”
- The Economic Importance of Financial Literacy: Theory and Evidence (2014, unknown): “For instance, Agnew et al. (2007) show that employees who were the least financially knowledgeable were 34 percent less likely to participate voluntarily, and 11 percent less likely to be automatically enrolled, in their company’s 401(k) plan.”