Moreover, the more financially knowledgeable are also those most likely to plan for retirement. There are also ethnic/racial and regional differences: city-dwellers in Russia are better informed than their rural counterparts, while in the U.S., African Americans and Hispanics are relatively less financially literate than others. More educated people are more informed, yet education is far from a perfect proxy for literacy. Other common patterns are also evident: women are less financially literate than men and are aware of this shortfall. Further, across these countries, we show that the older population believes itself well informed, even though it is actually less well informed than average. Yet new international research demonstrates that financial illiteracy is widespread when financial markets are well developed as in Germany, the Netherlands, Sweden, Japan, Italy, New Zealand, and the United States, or when they are changing rapidly as in Russia. In an increasingly risky and globalized marketplace, people must be able to make well-informed financial decisions. Transportation Economics in the 21st Century.Training Program in Aging and Health Economics. The Roybal Center for Behavior Change in Health.Retirement and Disability Research Center.Measuring the Clinical and Economic Outcomes Associated with Delivery Systems.Improving Health Outcomes for an Aging Population. Early Indicators of Later Work Levels, Disease and Death.
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