Being knowledgable about money management, budgeting and finance is no guarantee of success in life. But ignorance about such concepts often comes at great cost. When it comes to financial literacy, however, the U.S. gets a failing grade at least by one count. The U.S. ranked 14th in a 2015 global study conducted by Standard & Poor’s Ratings Group and others, with a financial literacy rate of 57%. One solution would be to have colleges require students to take a personal-finance course. Would that help? Two experts weigh in.
Like surprises? Retirement—for better and worse—will change your life more than you anticipate. That’s the consensus of those who should know best: retirees themselves. Recently, as part of a discussion in these pages about changes in later life, we asked readers for help: Tell us what has surprised you in retirement. What did the experts neglect to mention? What would you tell would-be retirees to watch for? The answer, in short: almost everything.
In November 2016, Allianz, in collaboration with Director Annamaria Lusardi, surveyed a total of 10,000 (approximately 1,000 people in each country) in the western European countries of Austria, Belgium, France, Germany, Italy, the Netherlands, Portugal, Spain, Switzerland, and the United Kingdom to better understand their financial and risk literacy and financial decision making.
The first employment report since Donald Trump began his presidency showed the U.S. labor market expanding at a healthy clip, though wage growth was slower than many expected, a sign that the economy still has room to grow before almost all workers who want a job can find one.
This paper examines the relationship between student loans and retirement saving behavior by 30-year-old workers.
Over the past decade, many American cities have been transformed by young professionals of the millennial generation, with downtowns turning into bustling neighborhoods full of new apartments and pricey coffee bars. But soon, cities may start running out of millennials.
Baby boomers’ mandatory withdrawals from 401(k)s, IRAs and other tax-deferred retirement accounts start in full force this year, touching off a massive shift of cash
A draft report from California’s Department of Housing and Community Development found home ownership rates in the state are at their lowest since the 1940s.
Minimal reductions in weight among the heaviest individuals could save thousands per person per year in medical expenditures in the US.