| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15568 |
| DP15568 Understanding Debt in the Older Population | |
| Annamaria Lusardi; Olivia S Mitchell; Noemi Oggero | |
| 发表日期 | 2020-12-16 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Poor financial capability can erode well-being in later life. To explore debt and debt management among older Americans, age 51-61, we designed and analyzed a new module in the 2018 Health and Retirement Study along with information from the 2018 National Financial Capability Study. Even though this group should be at the peak of their retirement savings, it nevertheless carries debt due to student loans and unpaid medical bills; having children also contributes to carrying debt close to retirement. By contrast, the financially literate have more positive financial perceptions and behaviors. Specifically, being able to answer one additional financial literacy question correctly is associated with a higher probability of reporting an above average credit record and planning for retirement. Higher financial literacy is also linked to being less likely to carry excessive debt, being contacted by debt collectors, and carrying medical debt or student loans, even after accounting for a large range of demographics and other characteristics. Evidently, financial knowledge can help limit debt exposure at older ages. |
| 主题 | Financial Economics |
| 关键词 | Retirement Debt Medical bills Student loans Mortgages Financial literacy Financial fragility |
| URL | https://cepr.org/publications/dp15568 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544574 |
| 推荐引用方式 GB/T 7714 | Annamaria Lusardi,Olivia S Mitchell,Noemi Oggero. DP15568 Understanding Debt in the Older Population. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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