Report
Provides three distinct analyses addressing labor supply, saving and investment behavior of older workers, in the context of the incentives and constraints they face due to employer and government policies.
Periodical
Having a bank account increases security, reduces vulnerability to theft, and helps account holders develop financial smarts. But new findings show growing rates of unbanked Americans.
Multimedia
Video compilation of the 2012 Behavioral Finance (BeFi) Forum in Washington, D.C., a day-long event that included a series of topical panels on curated presentations of academic research followed by discussion by leading practitioners, and featuring keynote speakers Michael Barr and Dan Ariely.
Report
Explores financial decision-making and outcomes among young adults in the United States in order to inform policies that promote saving and financial security.
Project
People with low levels of financial literacy are more easily influenced by the default settings of employee savings plans. The Financial Literacy Center is measuring differences in default effects for employees at companies with auto-enrollment retirement plans, focusing on differential behavior by income.
Content
Working with a credit union, Financial Literacy Center researchers are piloting a voluntary, in-person annual "financial health check" service with follow-up, to help households improve their financial decisions. The project is also testing the pilot's effects on behavior.
Project
Households annuitize very little of their retirement savings. The Financial Literacy Center is studying the annuitization choices of retiring workers, designing and implementing new communication strategies that will raise acceptance of annuities, and examining the effectiveness of these strategies.
Project
Women continue to lag behind men, not only in income, but in overall financial capability and retirement preparedness. A financial "bootcamp" may hold promise as a financial education program for early to mid-career women.
Content
Many employers provide an orientation program to describe employee benefits, including retirement plans, to new hires, but can these programs and materials increase the likelihood that new workers will enroll in a retirement saving plan?
Project
Results from the National Financial Capability Survey show the majority of Americans lack basic numeracy and knowledge of fundamental economic principles. The Financial Literacy Center is analyzing the raw survey data to construct an atlas of financial literacy among U.S. states and among some demographic groups.
Project
Many households use commitment devices such as monthly mortgage payments, Social Security, and payroll 401(k) deductions to help them save. The Financial Literacy Center is trying to design a "new and improved" 401(k) that offers a better combination of liquidity and commitment than the current defined contribution pension.
Journal Article
Aging populations are leading countries worldwide to social security reforms. Many countries are moving from pay-as-you-go to personal retirement account (PRA) systems because of their financial sustainability and positive impact on private savings.
Project
Lack of financial literacy has been shown to be a serious obstacle to financial stability. The Financial Literacy Center is using new and innovative methods such as visual tools and the power of stories and narratives to teach basic but fundamental economic concepts that are the foundation of financial decisionmaking.
Multimedia
These videos offer presentations from "Emerging Research on Financial Literacy: A Workshop," held by the Financial Literacy Center, a joint center of the RAND Corporation, Dartmouth College, and the Wharton School. The workshop brought together Center scholars with policymakers and practitioners in the financial literacy field.
Multimedia
At the first annual conference of the Financial Literacy Research Consortium, scholars discussed how programs, educational products, and policies can best promote financial planning and security. Videos from the presentations are available on rand.org.
News Release
Couples who score well on a simple test of numeracy ability accumulate more wealth by middle age than couples who score poorly on such a test.
News Release
A conference highlighting the latest developments in improving the financial literacy of the American public is being held Nov. 18 and 19 in Washington D.C. by the Financial Literacy Center and the U.S. Social Security Administration.
Content
Understanding how people reach decisions about issues affecting their economic status in old age is one aim of the Roybal Center for Financial Decisionmaking. Another goal is to inform how public policy can educate or help people align their decisions with their long-term objectives.
News Release
A new center dedicated to improving the financial literacy of the American public has been launched by the RAND Corporation, Dartmouth College and the Wharton School of the University of Pennsylvania.
Report
Reports the results of an Internet survey conducted with the American Life Panel to address issues related to consumers' perceptions of credit unions and financial institutions and to help credit unions understand consumer behavior.
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