Financial Literacy and Retirement Planning in Australia
Financial literacy and numeracy are closely tied. Furthermore, financial literacy has been shown to relate to important financial behaviors. This study examines the relationship between financial literacy and retirement planning using a measure that includes questions requiring numeracy. We implemen...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
National Numeracy Network
2013-07-01
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| Series: | Numeracy |
| Subjects: | |
| Online Access: | http://scholarcommons.usf.edu/numeracy/vol6/iss2/art7/ |
| _version_ | 1811263558875348992 |
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| author | Julie R. Agnew Hazel Bateman Susan Thorp |
| author_facet | Julie R. Agnew Hazel Bateman Susan Thorp |
| author_sort | Julie R. Agnew |
| collection | DOAJ |
| description | Financial literacy and numeracy are closely tied. Furthermore, financial literacy has been shown to relate to important financial behaviors. This study examines the relationship between financial literacy and retirement planning using a measure that includes questions requiring numeracy. We implement a customized survey to a representative sample of 1,024 Australians. Overall, we find aggregate levels of financial literacy similar to comparable countries with the young, least educated, those not employed, and those not in the labor force most at risk. Our financial literacy measure is positively related to retirement planning in our sample. |
| first_indexed | 2024-04-12T19:47:24Z |
| format | Article |
| id | doaj.art-6aed7069820e413c95d3d24fba37d07e |
| institution | Directory Open Access Journal |
| issn | 1936-4660 |
| language | English |
| last_indexed | 2024-04-12T19:47:24Z |
| publishDate | 2013-07-01 |
| publisher | National Numeracy Network |
| record_format | Article |
| series | Numeracy |
| spelling | doaj.art-6aed7069820e413c95d3d24fba37d07e2022-12-22T03:18:55ZengNational Numeracy NetworkNumeracy1936-46602013-07-01627http://dx.doi.org/10.5038/1936-4660.6.2.7Financial Literacy and Retirement Planning in AustraliaJulie R. AgnewHazel BatemanSusan ThorpFinancial literacy and numeracy are closely tied. Furthermore, financial literacy has been shown to relate to important financial behaviors. This study examines the relationship between financial literacy and retirement planning using a measure that includes questions requiring numeracy. We implement a customized survey to a representative sample of 1,024 Australians. Overall, we find aggregate levels of financial literacy similar to comparable countries with the young, least educated, those not employed, and those not in the labor force most at risk. Our financial literacy measure is positively related to retirement planning in our sample.http://scholarcommons.usf.edu/numeracy/vol6/iss2/art7/financial literacyretirement planning |
| spellingShingle | Julie R. Agnew Hazel Bateman Susan Thorp Financial Literacy and Retirement Planning in Australia Numeracy financial literacy retirement planning |
| title | Financial Literacy and Retirement Planning in Australia |
| title_full | Financial Literacy and Retirement Planning in Australia |
| title_fullStr | Financial Literacy and Retirement Planning in Australia |
| title_full_unstemmed | Financial Literacy and Retirement Planning in Australia |
| title_short | Financial Literacy and Retirement Planning in Australia |
| title_sort | financial literacy and retirement planning in australia |
| topic | financial literacy retirement planning |
| url | http://scholarcommons.usf.edu/numeracy/vol6/iss2/art7/ |
| work_keys_str_mv | AT julieragnew financialliteracyandretirementplanninginaustralia AT hazelbateman financialliteracyandretirementplanninginaustralia AT susanthorp financialliteracyandretirementplanninginaustralia |