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Author :
Publisher :
ISBN 13 :
Total Pages : 154 pages
Book Rating : 4.:/5 (837 download)
Download or read book Feature: Cognitive Function, Financial Literacy and Financial Outcomes at Older Ages written by and published by . This book was released on 2010 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Antonio Ciccione
Publisher :
ISBN 13 :
Total Pages : 154 pages
Book Rating : 4.:/5 (76 download)
Download or read book Cognitive Function, Financial Literacy and Financial Outcomes at Older Ages written by Antonio Ciccione and published by . This book was released on 2010 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hugh Hoikwang Kim
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (19 download)
Download or read book How Cognitive Ability and Financial Literacy Shape the Demand for Financial Advice at Older Ages written by Hugh Hoikwang Kim and published by . This book was released on 2019 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate how cognitive ability and financial literacy shape older Americans’ demand for financial advice using an experimental module in the 2016 Health and Retirement Study. We show that cognitive ability and financial literacy strongly improve the quality, but not the quantity, of financial advice sought. Most importantly, the financially literate and more cognitively able tend to seek financial help from professionals rather than family members, and they are less likely to accept so-called 'free' financial advice that may entail conflicts of interest. Nevertheless, those with higher cognitive function also tend to distrust financial advisors, leading them to eschew their services.
Author : Olivia S. Mitchell
Publisher : Oxford University Press
ISBN 13 : 0198808038
Total Pages : 249 pages
Book Rating : 4.1/5 (988 download)
Download or read book Financial Decision Making and Retirement Security in an Aging World written by Olivia S. Mitchell and published by Oxford University Press. This book was released on 2017 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume will explore how financial decision-making changes at older ages, how and when financial advice can be useful for the older population, and what solutions and opportunities are needed to resolve the likely problems that will arise.
Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309164915
Total Pages : 280 pages
Book Rating : 4.3/5 (91 download)
Download or read book When I'm 64 written by National Research Council and published by National Academies Press. This book was released on 2006-02-13 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: By 2030 there will be about 70 million people in the United States who are older than 64. Approximately 26 percent of these will be racial and ethnic minorities. Overall, the older population will be more diverse and better educated than their earlier cohorts. The range of late-life outcomes is very dramatic with old age being a significantly different experience for financially secure and well-educated people than for poor and uneducated people. The early mission of behavioral science research focused on identifying problems of older adults, such as isolation, caregiving, and dementia. Today, the field of gerontology is more interdisciplinary. When I'm 64 examines how individual and social behavior play a role in understanding diverse outcomes in old age. It also explores the implications of an aging workforce on the economy. The book recommends that the National Institute on Aging focus its research support in social, personality, and life-span psychology in four areas: motivation and behavioral change; socioemotional influences on decision-making; the influence of social engagement on cognition; and the effects of stereotypes on self and others. When I'm 64 is a useful resource for policymakers, researchers and medical professionals.
Author : Joanne Earl
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (13 download)
Download or read book When Cognitive Functioning Meets Financial Literacy and Judgment in Older Age written by Joanne Earl and published by . This book was released on 2015 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the relationships between measures of financial literacy, applied financial literacy, financial judgment and measures of fluid and crystallised cognitive ability. Given an ageing population and the responsibility for managing savings in retirement, this relationship is of increasing importance. We find differences between those people who self-manage large retirement savings portfolios and those with money in institutional retirement savings funds, with the former displaying greater financial literacy and judgment than is generally observed in members of institutional funds. We determine that different cognitive processes underlie financial literacy and financial judgment, and that these are susceptible to decline at different rates. Findings have important implications for the monitoring of cognitive ability, financial literacy and financial judgment over time.
Author : Institute of Medicine
Publisher : National Academies Press
ISBN 13 : 0309368650
Total Pages : 300 pages
Book Rating : 4.3/5 (93 download)
Download or read book Cognitive Aging written by Institute of Medicine and published by National Academies Press. This book was released on 2015-07-21 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: For most Americans, staying "mentally sharp" as they age is a very high priority. Declines in memory and decision-making abilities may trigger fears of Alzheimer's disease or other neurodegenerative diseases. However, cognitive aging is a natural process that can have both positive and negative effects on cognitive function in older adults - effects that vary widely among individuals. At this point in time, when the older population is rapidly growing in the United States and across the globe, it is important to examine what is known about cognitive aging and to identify and promote actions that individuals, organizations, communities, and society can take to help older adults maintain and improve their cognitive health. Cognitive Aging assesses the public health dimensions of cognitive aging with an emphasis on definitions and terminology, epidemiology and surveillance, prevention and intervention, education of health professionals, and public awareness and education. This report makes specific recommendations for individuals to reduce the risks of cognitive decline with aging. Aging is inevitable, but there are actions that can be taken by individuals, families, communities, and society that may help to prevent or ameliorate the impact of aging on the brain, understand more about its impact, and help older adults live more fully and independent lives. Cognitive aging is not just an individual or a family or a health care system challenge. It is an issue that affects the fabric of society and requires actions by many and varied stakeholders. Cognitive Aging offers clear steps that individuals, families, communities, health care providers and systems, financial organizations, community groups, public health agencies, and others can take to promote cognitive health and to help older adults live fuller and more independent lives. Ultimately, this report calls for a societal commitment to cognitive aging as a public health issue that requires prompt action across many sectors.
Author : David A. Wise
Publisher : University of Chicago Press
ISBN 13 : 0226903370
Total Pages : 401 pages
Book Rating : 4.2/5 (269 download)
Download or read book Explorations in the Economics of Aging written by David A. Wise and published by University of Chicago Press. This book was released on 2011-05 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is the thirteenth in a series of NBER volumes on the Economics of Aging"--Introduction.
Author : Angela A. Hung
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (14 download)
Download or read book Cognitive Ability and Retirement Decision Making written by Angela A. Hung and published by . This book was released on 2018 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Planning for and managing retirement are inherently complex tasks. Persons with higher overall cognitive functioning may have higher financial literacy and be better equipped to handle such complexity. Since cognitive abilities change with age, often with pronounced declines in fluid or reasoning abilities, as older Americans enter retirement they may be losing the capability to make sound decisions to maximize their own welfare. We examine the relative roles of cognitive ability and financial literacy, and decline in cognitive ability, in influencing retirement-related financial behaviors, such as retirement saving and the decumulation of wealth. We find consistent evidence that when financial literacy and cognitive ability are both used to predict retirement planning behavior, financial literacy tends to have the largest influence on predicted behavior. Accordingly, our evidence supports a conceptualization in which financial literacy is a partial mediator of the relationship between underlying cognitive abilities and resulting behaviors. We also track fluid cognitive ability for individuals longitudinally over time and find that those with steeper cognitive decline are more likely to withdraw from pensions and more likely to claim Social Security at any given age. Together, our results suggest that cognition, and any decline in cognition, matter for retirement financial behaviors.
Author : Marco Angrisani
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Cognitive Ability, Cognitive Aging, and Debt Accumulation written by Marco Angrisani and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past few decades, financial products target to consumers have become increasingly complex and recent evidence suggests that older adults are entering retirement with more debt than previous generations. We examine how cognitive ability is related to debt burdens among older adults and whether this relationship has changed over time with the increasingly complex financial landscape. Using data from the Health and Retirement Study spanning 1998 to 2014, we find that cognitive ability is an important predictor of debt burdens in older age and that, in more complex financial environments, individuals with higher cognitive ability have taken on higher debt levels than individuals with lower cognitive ability. In a complementary analysis using data from 2015 to 2019 drawn from the Understanding America Study, we find similar results and evidence that the relationship between cognitive ability and debt exposure is driven by financial sophistication. Our findings are broadly inconsistent with financial intermediaries pushing increasingly complicated financial products onto unsophisticated borrowers. However, we find that even higher cognitive ability individuals may have difficulty managing their debt burdens in more complex environments - they hold less total wealth, less liquid wealth, and are more likely to have debt levels that exceed half their assets than their counterparts prior to the expansion in complexity. All told, we find that individuals with higher cognitive ability disproportionately increased their debt burdens during the increase in financial product complexity, and that subsequently they were more financially fragile than similar individuals in previous cohorts.
Author : Denise Park
Publisher : Psychology Press
ISBN 13 : 1135887519
Total Pages : 294 pages
Book Rating : 4.1/5 (358 download)
Download or read book Cognitive Aging written by Denise Park and published by Psychology Press. This book was released on 2012-12-06 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: As our society ages, the topic of cognitive aging is becoming increasingly important. This volume provides an accessible overview of how the cognitive system changes as a function of normal aging. Building on the successful first edition, this volume provide an even more comprehensive coverage of the major issues affecting memory, attention, language, speech and other aspects of cognitive functioning. The essential chapters from the first edition have been thoroughly revised and updated and new chapters have been introduced which draw in neuroscience studies and more applied topics. In addition, contributors were encouraged to ensure their chapters are accessible to students studying the topic for the first time. This therefore makes the volume appealing as a textbook on senior undergraduate and graduate courses.
Author : CFP Board
Publisher : John Wiley & Sons
ISBN 13 : 1119440904
Total Pages : 340 pages
Book Rating : 4.1/5 (194 download)
Download or read book Client Psychology written by CFP Board and published by John Wiley & Sons. This book was released on 2018-02-19 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Client-Centered approach to Financial Planning Practice built by Research for Practitioners The second in the CFP Board Center for Financial Planning Series, Client Psychology explores the biases, behaviors, and perceptions that impact client decision-making and overall financial well-being. This book, written for practitioners, researchers, and educators, outlines the theory behind many of these areas while also explicitly stating how these related areas directly impact financial planning practice. Additionally, some chapters build an argument based solely upon theory while others will have exclusively practical applications. Defines an entirely new area of focus within financial planning practice and research: Client Psychology Serves as the essential reference for financial planners on client psychology Builds upon and expands the body of knowledge for financial planning Provides insight regarding the factors that impact client financial decision-making from a multidisciplinary approach If you’re a CFP® professional, researcher, financial advisor, or student pursuing a career in financial planning or financial services, this book deserves a prominent spot on your professional bookshelf.
Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309254094
Total Pages : 486 pages
Book Rating : 4.3/5 (92 download)
Download or read book Aging in Asia written by National Research Council and published by National Academies Press. This book was released on 2012-07-31 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: The population of Asia is growing both larger and older. Demographically the most important continent on the world, Asia's population, currently estimated to be 4.2 billion, is expected to increase to about 5.9 billion by 2050. Rapid declines in fertility, together with rising life expectancy, are altering the age structure of the population so that in 2050, for the first time in history, there will be roughly as many people in Asia over the age of 65 as under the age of 15. It is against this backdrop that the Division of Behavioral and Social Research at the U.S. National Institute on Aging (NIA) asked the National Research Council (NRC), through the Committee on Population, to undertake a project on advancing behavioral and social research on aging in Asia. Aging in Asia: Findings from New and Emerging Data Initiatives is a peer-reviewed collection of papers from China, India, Indonesia, Japan, and Thailand that were presented at two conferences organized in conjunction with the Chinese Academy of Sciences, Indian National Science Academy, Indonesian Academy of Sciences, and Science Council of Japan; the first conference was hosted by the Chinese Academy of Social Sciences in Beijing, and the second conference was hosted by the Indian National Science Academy in New Delhi. The papers in the volume highlight the contributions from new and emerging data initiatives in the region and cover subject areas such as economic growth, labor markets, and consumption; family roles and responsibilities; and labor markets and consumption.
Author : Michael S. Finke
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (13 download)
Download or read book Old Age and the Decline in Financial Literacy written by Michael S. Finke and published by . This book was released on 2015 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Households over age 60 own half of the discretionary investment assets in the United States and are increasingly responsible for generating income from these investments to fund retirement. Studies in cognitive aging show that older respondents experience a decline in cognitive processes closely related to financial decision making. We investigate whether knowledge of basic concepts essential to effective financial choice declines after age 60. Financial literacy scores decline by about 2% each year after age 60, and the rate of decline does not increase with advanced age. Results from regressions censored by respondent groups and financial literacy topic areas suggest that the decline is not related to cohort effects or differences in gender or educational attainment. Confidence in financial decision making abilities does not decline with age. Increasing confidence and reduced abilities can explain poor credit and investment choices by older respondents.
Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309474108
Total Pages : 409 pages
Book Rating : 4.3/5 (94 download)
Download or read book Future Directions for the Demography of Aging written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2018-07-21 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost 25 years have passed since the Demography of Aging (1994) was published by the National Research Council. Future Directions for the Demography of Aging is, in many ways, the successor to that original volume. The Division of Behavioral and Social Research at the National Institute on Aging (NIA) asked the National Academies of Sciences, Engineering, and Medicine to produce an authoritative guide to new directions in demography of aging. The papers published in this report were originally presented and discussed at a public workshop held in Washington, D.C., August 17-18, 2017. The workshop discussion made evident that major new advances had been made in the last two decades, but also that new trends and research directions have emerged that call for innovative conceptual, design, and measurement approaches. The report reviews these recent trends and also discusses future directions for research on a range of topics that are central to current research in the demography of aging. Looking back over the past two decades of demography of aging research shows remarkable advances in our understanding of the health and well-being of the older population. Equally exciting is that this report sets the stage for the next two decades of innovative researchâ€"a period of rapid growth in the older American population.
Author :
Publisher :
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.:/5 (891 download)
Download or read book Growing Older in America written by and published by . This book was released on 2007 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Laurence J. Kotlikoff
Publisher : Simon and Schuster
ISBN 13 : 1476772290
Total Pages : 336 pages
Book Rating : 4.4/5 (767 download)
Download or read book Get What's Yours written by Laurence J. Kotlikoff and published by Simon and Schuster. This book was released on 2015-02-17 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn the secrets to maximizing your Social Security benefits and earn up to thousands of dollars more each year with expert advice that you can't get anywhere else. Want to know how to navigate the forbidding maze of Social Security and emerge with the highest possible benefits? You could try reading all 2,728 rules of the Social Security system (and the thousands of explanations of these rules), but Kotlikoff, Moeller, and Solman explain Social Security benefits in an easy to understand and user-friendly style. What you don't know can seriously hurt you: wrong decisions about which Social Security benefits to apply for cost some individual retirees tens of thousands of dollars in lost income every year. How many retirees or those nearing retirement know about such Social Security options as file and suspend (apply for benefits and then don't take them)? Or start stop start (start benefits, stop them, then re-start them)? Or-just as important-when and how to use these techniques? Get What's Yours covers the most frequent benefit scenarios faced by married retired couples, by divorced retirees, by widows and widowers, among others. It explains what to do if you're a retired parent of dependent children, disabled, or an eligible beneficiary who continues to work, and how to plan wisely before retirement. It addresses the tax consequences of your choices, as well as the financial implications for other investments. Many personal finance books briefly address Social Security, but none offers the thorough, authoritative, yet conversational analysis found here. You've paid all your working life for these benefits. Now, get what's yours.
