Many firms are starting to offer financial wellness programs to reduce employees’ financial stress and help them save for retirement, says James Mahaney.…Read More
What’s Behind the Growth of Financial Wellness Programs
financial literacy
Research Shows Positive Effects of TDFs
Target date funds can pay retirement savers higher returns with lower risk, report Wharton Prof. Olivia S. Mitchell and Stephen P. Utkus of Vanguard in their new study. Including them as defaults on plan menus can boost retirement wealth by half, over a 30-year horizon cited by Plansponsor.…Read More
Can You Recession Proof Your Retirement Accounts?
Another recession by end-2021 predicted by 7 of 10 economists: Prof. Olivia S. Mitchell outlines steps you can take now to shore up your retirement savings and overall finances with Dan Loney on the Wharton Business Daily podcast. …Read More
Younger Generations are Redefining Retirement on Their Own Terms
Thanks to increased longevity and low investment returns, younger generations will need to contemplate 50-year careers instead of the traditional 25-30, says Olivia S. Mitchell of Wharton at Business Insider.…Read More
The Best of 2019 at the PRC
2019 was a busy year in the realm of retirement. Here are some of our most popular posts, papers, videos and news items for the year.…Read More
The End of Retirement
Workers are living longer and electing to work longer, so retirement as a concept is becoming outdated for many. Employers must encourage us to remain engaged & offer flexible work options, explains Wharton Prof. Olivia S. Mitchell to John D. Stoll at the Wall Street Journal.…Read More
Financial Literacy Apps Are More Important Than You Might Think
Financial literacy helps people make better spending/retirement decisions and can help them save, find Profs. Annamaria Lusardi of GWSB and Olivia S. Mitchell of Wharton. New educational apps and games can also boost financial literacy & understanding, says Glenn Gillis at Independent Online. …Read More
FINRA Unscripted Podcast: The Evolving World of Retirement Security
2019 Ketchum Prize recipient Olivia S. Mitchell of Wharton discusses challenges for retirement planning including longevity risk, financial literacy, and social security on a new FINRA podcast. Listen to “The Evolving World of Retirement Security” here.
The Long and the Short of It: Financial Fragility in America
While Americans’ long-term financial security is essential, a target deserving of equal – if not more – attention has been overlooked, namely short-term financial security. A large number of U.S. households are financially fragile today, and their well-being as well as that of the entire economy rests on households’ capacity to deal with shocks.…Read More
A Financial Literacy Test That Works
Brokers, financial advice providers, and many others need to test peoples’ ability to manage their money. Nevertheless, there are some who debate such tests arguing that they aren’t useful for predicting behavior. But our work has confirmed that there actually IS a short and very effective diagnostic financial literacy test that can be used to measure financial know-how and predict behavior.…Read More