Financial Literacy of Middle-Aged and Older Individuals: Comparison of Japan and the United States

We present some interesting findings. First, financial literacy is generally influenced by educational attainment, cognitive skills, coursework in economics or finance, and income level. Second, financial literacy is associated with household asset allocation; individuals with higher literacy also have investment in stocks or securities. These patterns are commonly observed both in Japan and the United States.
Source: The Journal of the Economics of Ageing - Category: Health Management Source Type: research