The sufficiency of financial education in retirement planning: An experimental study among the working population.

The sufficiency of financial education in retirement planning: An experimental study among the working population.

Summary

The research seeks to study the relationship between Financial Education and Financial Preparation for Retirement; it starts from the idea that such relationship is not significant and, therefore, a process of raising awareness about the importance of preparing for this moment in life is required.

With this in consideration, the study evaluates the impact of two strategies, one rational and the other emotional, using the experimental methodology Randomized Controlled Test. The impact is measured through the model Econometric Differences in Differences. In general, the investigation allows us to conclude that, in fact, financial education alone does not motivate better retirement preparation practices, so the need for additional strategies that seek better retirement preparation practices is evident. In this regard, rational interventions show better results in carrying out actions that have a direct impact, while emotional interventions have shown a greater impact on changing attitudes. The study advances in the literature on financial preparation for retirement, one of the most important challenges facing Mexico.

Key points

Retirement Saving

Financial Education

Complete content of the publication

Tags

Ahorro Behavioral economics Financial education Savings Savings for retirement

Authors

AMAFORE

Jean Paul Madrigal R

Researcher at AMAFORE

Web page

Additional information

Publication date

01/03/2019

Document type

Research

Geographical scope

Mexico, México

Who is it for

General

Number of pages

52

Font

AMAFORE