Financial literacy and retirement planning in the Netherlands

被引：240
|
作者：
van Rooij, Maarten C. J. [1 ,2 ]
Lusardi, Annamaria [2 ,3 ,4 ]
Alessie, Rob J. M. [2 ,5 ,6 ]
机构：
[1] De Nederlandsche Bank, Econ & Res Div, NL-1000 AB Amsterdam, Netherlands
[2] Netspar, NL-5000 LE Tilburg, Netherlands
[3] George Washington Sch Business, Washington, DC 20052 USA
[4] Dartmouth Coll, Dept Econ, Hanover, NH 03755 USA
[5] Univ Groningen, Sch Business & Econ, NL-9700 AV Groningen, Netherlands
[6] Tinbergen Inst, NL-1082 MS Amsterdam, Netherlands
来源：
JOURNAL OF ECONOMIC PSYCHOLOGY | 2011年 / 32卷 / 04期
关键词：
Thinking about retirement; Knowledge of finance and economics; Financial sophistication; Economics courses in school; PREFERENCES;
D O I：
10.1016/j.joep.2011.02.004
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The complexity of financial decisions that households now face has increased to unprecedented levels. At the same time, households seem to lack the financial knowledge to cope with these decisions, including how to save and invest adequately for retirement. In this paper, we examine the relationship between financial knowledge and retirement planning in the Netherlands. For this purpose, we have designed a module on financial literacy and planning for the De Nederlandsche Bank (DNB) Household Survey. We find a strong and positive relationship between financial knowledge and retirement planning; those who are more financially knowledgeable are more likely to plan for retirement. Using information on economics education acquired in school, we show that the nexus of causality goes from financial literacy to planning rather than the other way around. (C) 2011 Elsevier B.V. All rights reserved.
引用
收藏
页码：593 / 608
页数：16
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