financial literacy Archives

United States Senate Special Committee on Aging

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US Senate’s new bipartisan report on financial literacy, urging seniors and people with disabilities to plan for retirement cites research by Profs. Olivia S. Mitchell of Wharton and Annamaria Lusardi of George Washington University and GFLEC. Via Special Committee on Aging.…Read More

Olivia Mitchell: “La persistente falta de conocimiento financiero ha contribuido al escepticismo de muchos chilenos sobre el sistema de pensiones”

A person wearing a wide-brimmed hat and red sweater walks down a dusty street lined with adobe buildings, holding a walking stick. The scene has a rural, sunny setting.

Poor financial literacy is a major reason why people haven’t saved or invested more, and also why they have withdrawn so much from their pensions, Wharton Prof. Olivia S. Mitchell explains, discussing the struggles of the Chilean retirement system. Via La Tercera.…Read More

Olivia S. Mitchell on Wharton Business Daily: Debt among Older Americans

A sepia-toned image of two people riding bicycles on a rural path surrounded by greenery and trees, evoking a sense of leisure and nature.

Older Americans are accumulating more debt as they approach retirement than prior generations, reports Wharton Prof. Olivia S. Mitchell to Dan Loney of Wharton Business Daily. Read the paper here.…Read More

Financial Well-Being of Underrepresented Women

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Workplace-sponsored financial education programs, as well as programs targeted to the specific circumstances of Black and Hispanic women, would boost financial literacy far more than a one-size-fits-all approach, explains Wharton Prof. Olivia S. Mitchell to Julie Stich of IFEBP. Paper here: Financial Well-being among Black and Hispanic Women…Read More

Financial Literacy and Debt among Seniors

An elderly person stands in a shop filled with shelves of porcelain and ceramic dishware, smiling. The store has a variety of plates, teapots, and boxed items.

Financially literate older Americans are less likely to carry excessive debt, as per Wharton Prof. Olivia S. Mitchell, Prof. Annamaria Lusardi of the George Washington University, and Noemi Oggero of the University of Turin, in a report spotlighted by NBER.…Read More

Why Early 401(k) Withdrawals Are a Bad Idea

A small group of people seated in a professional setting, likely attending a seminar or classroom session. Some are taking notes or holding documents.

Early 401(k) withdrawals can drastically reduce retirement assets; if need be, borrowing from a retirement account can be a safer option, explains Wharton Prof. Olivia S. Mitchell. Via Knowledge@Wharton.…Read More

Don’t confuse wealth creation with retirement saving

A group of elderly individuals, some seated on benches and one on a wheelchair, gather and converse in a park setting. They are wearing hats and coats, and they are surrounded by an urban landscape with trees and buildings.

Holding stock in your employer’s company can be riskier than investing in a well-diversified, tax-qualified retirement account, explains Wharton Prof. Olivia S. Mitchell, via Pensions & Investments. …Read More

Remaking Retirement: Debt in an Aging Economy

Promotional graphic for a financial literacy event series in Europe featuring Dr. Olivia S. Mitchell. Includes event details and logos for European Money Week and the European Banking Federation.

Wharton Prof. Olivia S. Mitchell will discuss her recent book, ‘Remaking Retirement: Debt in an Aging Economy’ at the European Banking Federation’s 2021 European Money Week, Tuesday 23 March at 16:00 CET/11 AM EDT, ‘Financial Security at an Older Age: What Do We Need to Prepare For?’ Full event schedule and to register: https://www.ebf.eu/ebf-events/…Read More