Estudio: La educación financiera se reduce con la edad, la confianza para tomar decisiones, no

Study: Financial Literacy Declines With Age, Confidence to Make Decisions Doesn’t

Publicado en Everething Lubbock.com (Nota de prensa original de la Universidad Tecnológica de Texas).
Fecha: 10 de marzo de 2016

A new study shows the ability of Americans to manage their money may decrease after they reach retirement age, but confidence in their ability to make good financial decisions stays the same.

The study, authored by Department of Personal Financial Planning professors Michael Finke and Sandra Huston of Texas Tech University and John Howe of the University of Michigan found financial literacy declines at a consistent rate after retirement. The ability to answer basic financial questions decreases as respondents age, and this rate of decline almost exactly matches the gradual erosion of memory and problem-solving abilities later in life.

This is worrisome, Finke said, because households aged 60 years and older control more than half of the wealth in the United States. Since fewer employers provide pensions than ever before, more people are dependent entirely on their retirement savings.

What was even more concerning, however, is older respondents didn’t report a loss of confidence in their ability to make financial decisions.

“This was originally one of the most surprising and alarming findings from the study,” Finke said. “As we get older, our ability to answer basic financial questions that include knowledge, and the ability to apply that knowledge, gets worse. But we have no idea this is happening. It’s very similar to the research on driving skills. Since it happens so gradually, we’re not aware our abilities are getting worse over time.”

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