TY  - JOUR
AU  - Lusardi,Annamaria
AU  - Mitchell,Olivia S.
TI  - Planning and Financial Literacy: How Do Women Fare?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 13750
PY  - 2008
Y2  - January 2008
UR  - http://www.nber.org/papers/w13750
L1  - http://www.nber.org/papers/w13750.pdf
N1  - Author contact info:
Annamaria Lusardi
The George Washington University
School of Business
2201 G Street, NW
Duques Hall, Suite 450E
Washington, DC 20052
Tel: 202-994-8410
E-Mail: alusardi@gwu.edu

Olivia S. Mitchell
University of Pennsylvania
Wharton School
3620 Locust Walk, St 3000 SH-DH
Philadelphia, PA 19104-6302
Tel: 215-898-0424
Fax: 215/898-0310
E-Mail: mitchelo@wharton.upenn.edu
AB  - Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who are more vulnerable to old-age poverty due to their longer longevity.  This paper uses data from a special module we devised on planning and financial literacy in the 2004 Health and Retirement Study.  It shows that women display much lower levels of financial literacy than the older population as a whole. In addition, women who are less financially literate are also less likely to plan for retirement and be successful planners. These findings have important implications for policy and for programs aimed at fostering financial security at older ages.
ER  -