 | |
|
Understanding the financial knowledge gap
— a new dimension of inequality in later life |
| Author(s) | Mohammad Nuruzzaman Khan, David W Rothwell, Katrina Cherney, Tamara Sussman |
| Journal title | Journal of Gerontological Social Work, vol 60, nos 6-7, October 2017 |
| Publisher | Taylor and Francis, October 2017 |
| Pages | pp 487-503 |
| Source | http://www.tandfonline.com |
| Keywords | Finance ; Age groups [elderly] ; Financial services [older people] ; Competence ; Elder abuse ; At risk. |
| Annotation | To understand people's financial behaviours it is important to understand the financial knowledge gap _ the distance between one's objective and subjective financial knowledge. Overestimating one's financial knowledge can lead to risky financial behaviours. To date limited empirical work has examined how the financial knowledge gap varies across age groups. The purpose of this study was to analyse the extent and nature of the financial knowledge gap and its variation across age groups. By using nationally representative data the study found robust evidence that older adults overestimate their financial knowledge. Social workers can assess the financial knowledge gap and educate their clients to protect from financial fraud, exploitation and abuse. (JL). |
| Accession Number | CPA-171201206 A |
| Classmark | WN: BB: J: DPB: QNT: CA3 |
Data © Centre for Policy on Ageing |
|
| ...from the Ageinfo database published by Centre for Policy on Ageing. |