scholarly journals Financial literacy and financial sophistication in the older population

2014 ◽  
Vol 13 (4) ◽  
pp. 347-366 ◽  
Author(s):  
ANNAMARIA LUSARDI ◽  
OLIVIA S. MITCHELL ◽  
VILSA CURTO
Keyword(s):  
Portfolio Choice ◽  
Financial Literacy ◽  
Framing Effects ◽  
Health And Retirement Study ◽  
American Population ◽  
Asset Valuation ◽  
Older Population ◽  
Risk Diversification ◽  
Retirement Security ◽  
Retirement Study

AbstractUsing a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those age 75+. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications.

Research on Family Relationship and Cognitive Function among Older Hispanic Americans: Empirical Evidence from the Health and Retirement Study

2021 ◽  
pp. 073998632110254
Author(s):  
Chuihui Xiao ◽  
Shan Mao ◽  
Siming Jia ◽  
Nan Lu
Keyword(s):  
Cognitive Function ◽  
Hispanic Americans ◽  
Linear Regression Analysis ◽  
Family Relationship ◽  
The United States ◽  
Three Dimensions ◽  
Health And Retirement Study ◽  
Older Population ◽  
Cross Sectional ◽  
Retirement Study

The current study aimed to investigate the associations between family relationship and cognitive function among Hispanic older population. A cross-sectional analysis was conducted with a sample size of 1,580 individuals from the Health and Retirement Study in the United States (mean age = 65.65 ( SD = 9.33)). Family relationship was measured in three dimensions: structural, functional, and appraisal support. The results of linear regression analysis indicated that diverse composition of family network (β = .070, p = .009) and receiving financial support from family members (β = .060, p = .018) were associated with better cognitive function. Moderation analyses demonstrated that these associations were greater for Hispanic women than men. Current findings highlight the importance of family relationship on cognitive function among Hispanic older population and suggest that researchers and policymakers should put emphasis on the structural and functional aspects of family relationship to improve their cognitive health.

scholarly journals How do older workers use nontraditional jobs?

2020 ◽  
pp. 1-19
Author(s):  
Alicia Munnell ◽  
Geoffrey T. Sanzenbacher ◽  
Abigail N. Walters
Keyword(s):  
Health Insurance ◽  
Sequence Analysis ◽  
Older Workers ◽  
Health And Retirement Study ◽  
Retirement Income ◽  
Retirement Plans ◽  
Retirement Security ◽  
Retirement Study

Abstract Working consistently through one's early 60s is key to retirement security. However, workers without access to retirement plans and health insurance will likely struggle to achieve such security. This paper uses the Health and Retirement Study to identify nontraditional jobs – which lack these benefits – and applies sequence analysis to explore how workers aged 50–62 use them. The results suggest that most nontraditional jobs are used by workers consistently, and that fewer workers use these jobs briefly or as a bridge to retirement. Workers consistently in nontraditional jobs end up with less retirement income and are more likely to be depressed.

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