Existence of Retirement Accounts and Exposure to Financial Education
Poster Number
026
College
College of Business Administration
Department
Accounting, Finance & Economics
Faculty Mentor
Laura Ullrich, Ph.D.
Abstract
As the baby boomers are retiring, it is becoming more evident that Americans do not have adequate funds saved for life after work. This paper will explore how financial literacy and education play a role in the preparedness, or lack thereof, of retirement funds. Technical knowledge, as well as understanding the tendencies of human decision-making, may affect the way businesses and educational institutions approach the topic of financial literacy. I hypothesize that the higher the exposure to financial education, the greater the likelihood that a retirement account exists. Included in this analysis are additional variables, such as home ownership, annual income, and student loan debt, sourced from the 2015 National Financial Capability Study.
Course Assignment
ECON 306 – Ullrich
Previously Presented/Performed?
Fourth Annual Showcase of Undergraduate Research and Creative Endeavors (SOURCE), Winthrop University, April 2018
Start Date
20-4-2018 2:15 PM
End Date
20-4-2018 4:15 PM
Existence of Retirement Accounts and Exposure to Financial Education
Richardson Ballroom (DIGS)
As the baby boomers are retiring, it is becoming more evident that Americans do not have adequate funds saved for life after work. This paper will explore how financial literacy and education play a role in the preparedness, or lack thereof, of retirement funds. Technical knowledge, as well as understanding the tendencies of human decision-making, may affect the way businesses and educational institutions approach the topic of financial literacy. I hypothesize that the higher the exposure to financial education, the greater the likelihood that a retirement account exists. Included in this analysis are additional variables, such as home ownership, annual income, and student loan debt, sourced from the 2015 National Financial Capability Study.
