Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- M. Martin Boyer & Philippe d'Astous & Pierre-Carl Michaud, 2019. "Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?," NBER Working Papers 26128, National Bureau of Economic Research, Inc.
- M. Martin Boyer & Philippe d’Astous & Pierre-Carl Michaud, 2019. "Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?," Cahiers de recherche 1902, Chaire de recherche Industrielle Alliance sur les enjeux économiques des changements démographiques.
References listed on IDEAS
- Michael R. Veall, 2001.
"Did tax flattening affect RRSP contributions?,"
Canadian Journal of Economics, Canadian Economics Association, vol. 34(1), pages 120-131, February.
- Michael R. Veall, 2001. "Did tax flattening affect RRSP contributions?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 34(1), pages 120-131, February.
- Michael R. Veall, 1999. "Did Tax Flattening Affect RRSP Contributions?," Social and Economic Dimensions of an Aging Population Research Papers 3, McMaster University.
- Michael R. Veall, 1999. "Did Tax Flattening Affect RRSP Contributions?," Quantitative Studies in Economics and Population Research Reports 342, McMaster University.
- Michael R. Veall, 1999. "Did Tax Flattening Affect RRSP Contributions?," Department of Economics Working Papers 1999-04, McMaster University.
- Annamaria Lusardi & Olivia S. Mitchell, 2014.
"The Economic Importance of Financial Literacy: Theory and Evidence,"
Journal of Economic Literature, American Economic Association, vol. 52(1), pages 5-44, March.
- Annamaria Lusardi & Olivia S. Mitchell, 2013. "The Economic Importance of Financial Literacy: Theory and Evidence," NBER Working Papers 18952, National Bureau of Economic Research, Inc.
- Annamaria Lusardi & Olivia S. Mitchell, 2013. "The Economic Importance of Financial Literacy: Theory and Evidence," CeRP Working Papers 134, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Robert M. Dammon & Chester S. Spatt & Harold H. Zhang, 2004.
"Optimal Asset Location and Allocation with Taxable and Tax-Deferred Investing,"
Journal of Finance,
American Finance Association, vol. 59(3), pages 999-1037, June.
- Robert Dammon & Chester Spatt & Harold Zhang, "undated". "Optimal Asset Location and Allocation with Taxable and Tax-Deferred Investing," GSIA Working Papers 2003-E44, Carnegie Mellon University, Tepper School of Business.
- Tim Kaiser & Lukas Menkhoff, 2017.
"Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?,"
World Bank Economic Review, World Bank Group, vol. 31(3), pages 611-630.
- Tim Kaiser & Lukas Menkhoff, 2016. "Does Financial Education Impact Financial Literacy and Financial Behavior, and if So, When?," Discussion Papers of DIW Berlin 1562, DIW Berlin, German Institute for Economic Research.
- Kaiser, Tim & Menkhoff, Lukas, 2017. "Does Financial Education Impact Financial Literacy and Financial Behavior, and if so, When?," Rationality and Competition Discussion Paper Series 37, CRC TRR 190 Rationality and Competition.
- Kaiser,Tim & Menkhoff,Lukas, 2017. "Does financial education impact financial literacy and financial behavior, and if so, when ?," Policy Research Working Paper Series 8161, The World Bank.
- Adam M. Lavecchia, 2018. "Tax-Free Savings Accounts: Who uses them and how?," Working Papers 1802E, University of Ottawa, Department of Economics.
- Steffen Andersen & Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutström, 2008. "Eliciting Risk and Time Preferences," Econometrica, Econometric Society, vol. 76(3), pages 583-618, May.
- Jonathan Skinner, 2007.
"Are You Sure You're Saving Enough for Retirement?,"
Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 59-80, Summer.
- Jonathan Skinner, 2007. "Are You Sure You're Saving Enough for Retirement?," NBER Working Papers 12981, National Bureau of Economic Research, Inc.
- Annamaria Lusardi & Olivia S Mitchelli, 2007. "Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 42(1), pages 35-44, January.
- Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
- Annamaria Lusardi & Olivia Mitchell, 2006.
"Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education Programs,"
Working Papers
wp144, University of Michigan, Michigan Retirement Research Center.
- Lusardi, Annamaria & Mitchell, Olivia S., 2007. "Financial literacy and retirement preparedness: Evidence and implications for financial education programs," CFS Working Paper Series 2007/15, Center for Financial Studies (CFS).
- Jennifer Huang, 2008. "Taxable and Tax-Deferred Investing: A Tax-Arbitrage Approach," Review of Financial Studies, Society for Financial Studies, vol. 21(5), pages 2173-2207, September.
- Raj Chetty & John N. Friedman & Søren Leth-Petersen & Torben Heien Nielsen & Tore Olsen, 2014.
"Active vs. Passive Decisions and Crowd-Out in Retirement Savings Accounts: Evidence from Denmark,"
The Quarterly Journal of Economics, Oxford University Press, vol. 129(3), pages 1141-1219.
- Raj Chetty & John N. Friedman & Soren Leth-Petersen & Torben Nielsen & Tore Olsen, 2012. "Active vs. Passive Decisions and Crowdout in Retirement Savings Accounts: Evidence from Denmark," NBER Working Papers 18565, National Bureau of Economic Research, Inc.
- Chetty, Raj & Friedman, John N. & Leth-Peterson, Soren & Nielsen, Torben Heien & Olsen, Tore, 2013. "Active vs. Passive Decisions and Crowd-Out in Retirement Savings Accounts: Evidence from Denmark," Working Paper Series rwp13-002, Harvard University, John F. Kennedy School of Government.
- Kwang-Yeol Yoo & Alain de Serres, 2004. "Tax Treatment of Private Pension Savings in OECD Countries and the Net Tax Cost Per Unit of Contribution to Tax-Favoured Schemes," OECD Economics Department Working Papers 406, OECD Publishing.
- Annamaria Lusardi & Pierre-Carl Michaud & Olivia S. Mitchell, 2017.
"Optimal Financial Knowledge and Wealth Inequality,"
Journal of Political Economy, University of Chicago Press, vol. 125(2), pages 431-477.
- Annamaria Lusardi & Pierre-Carl Michaud & Olivia S. Mitchell, 2013. "Optimal Financial Knowledge and Wealth Inequality," CeRP Working Papers 133, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Annamaria Lusardi & Pierre-Carl Michaud & Olivia S. Mitchell, 2013. "Optimal Financial Knowledge and Wealth Inequality," NBER Working Papers 18669, National Bureau of Economic Research, Inc.
- Steeve Marchand, 2018. "Who Benefits from Tax-Preferred Savings Accounts?," Cahiers de recherche 1812, Chaire de recherche Industrielle Alliance sur les enjeux économiques des changements démographiques.
- Kevin Milligan, 2002.
"Tax-preferred savings accounts and marginal tax rates: evidence on RRSP participation,"
Canadian Journal of Economics, Canadian Economics Association, vol. 35(3), pages 436-456, August.
- Kevin Milligan, 2002. "Tax–preferred savings accounts and marginal tax rates: evidence on RRSP participation," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 35(3), pages 436-456, August.
- Kevin Milligan, 2001. "Tax-Preferred Savings Accounts and Marginal Tax Rates: Evidence on RRSP Participation," Social and Economic Dimensions of an Aging Population Research Papers 52, McMaster University.
- Francisco Gomes & Alexander Michaelides & Valery Polkovnichenko, 2009.
"Optimal Savings with Taxable and Tax-Deferred Accounts,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(4), pages 718-735, October.
- Francisco Gomes & Alexander Michaelides & Valery Polkovnichenko, 2009. "Code and data files for "Optimal Savings with Taxable and Tax-deferred Accounts"," Computer Codes 07-198, Review of Economic Dynamics.
- Burman, Leonard E. & Gale, William G. & Weiner, David, 2001. "The Taxation of Retirement Saving: Choosing Between Front-Loaded and Back-Loaded Options," National Tax Journal, National Tax Association, vol. 54(n. 3), pages 689-702, September.
- Brown, David C. & Cederburg, Scott & O’Doherty, Michael S., 2017. "Tax uncertainty and retirement savings diversification," Journal of Financial Economics, Elsevier, vol. 126(3), pages 689-712.
- David Boisclair & Guy Lacroix & Steeve Marchand & Pierre-Carl Michaud, 2018. "Individual Financial Returns from Quebec Pension Plan Reform Options: Analyzing Proposals to Renew a Second-Pillar Retirement Income Program," Canadian Public Policy, University of Toronto Press, vol. 44(2), pages 134-158, June.
- Clark, Robert & Lusardi, Annamaria & Mitchell, Olivia S., 2017. "Financial knowledge and 401(k) investment performance: a case study," Journal of Pension Economics and Finance, Cambridge University Press, vol. 16(3), pages 324-347, July.
- Burman, Leonard E. & Gale, William G. & Weiner, David, 2001. "The Taxation of Retirement Saving: Choosing Between Front-Loaded and Back-Loaded Options," National Tax Journal, National Tax Association;National Tax Journal, vol. 54(3), pages 689-702, September.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Lührmann, Melanie & Serra-Garcia, Marta & Winter, Joachim, 2015.
"Teaching teenagers in finance: Does it work?,"
Journal of Banking & Finance, Elsevier, vol. 54(C), pages 160-174.
- Lührmann, Melanie & Serra-Garcia, Marta & Winter, Joachim, 2012. "Teaching teenagers in finance: does it work?," Discussion Papers in Economics 14101, University of Munich, Department of Economics.
- Goda, Gopi Shah & Levy, Matthew R. & Manchester, Colleen Flaherty & Sojourner, Aaron & Tasoff, Joshua, 2020.
"Who is a passive saver under opt-in and auto-enrollment?,"
Journal of Economic Behavior & Organization, Elsevier, vol. 173(C), pages 301-321.
- Gopi Shah Goda & Matthew R. Levy & Colleen Flaherty Manchester & Aaron Sojourner & Joshua Tasoff, 2019. "Who is a Passive Saver Under Opt-In and Auto-Enrollment?," Working Papers 2019-050, Human Capital and Economic Opportunity Working Group.
- Colleen Flaherty Manchester & Gopi Shah Goda & Matthew R. Levy & Aaron Sojourner & Joshua Tasoff, 2019. "Who is a Passive Saver Under Opt-In and Auto-Enrollment?," Opportunity and Inclusive Growth Institute Working Papers 26, Federal Reserve Bank of Minneapolis.
- Gopi Shah Goda & Matthew R. Levy & Colleen Flaherty Manchester & Aaron Sojourner & Joshua Tasoff, 2019. "Who is a Passive Saver Under Opt-In and Auto-Enrollment?," NBER Working Papers 26078, National Bureau of Economic Research, Inc.
- Shah Goda, Gopi & Levy, Matthew R. & Flaherty Manchester, Colleen & Sojourner, Aaron & Tasoff, Joshua, 2019. "Who Is a Passive Saver under Opt-In and Auto-Enrollment?," IZA Discussion Papers 12497, Institute of Labor Economics (IZA).
- Brown, David C. & Cederburg, Scott & O’Doherty, Michael S., 2017. "Tax uncertainty and retirement savings diversification," Journal of Financial Economics, Elsevier, vol. 126(3), pages 689-712.
- Meier, Stephan & Sprenger, Charles D., 2013.
"Discounting financial literacy: Time preferences and participation in financial education programs,"
Journal of Economic Behavior & Organization, Elsevier, vol. 95(C), pages 159-174.
- Meier, Stephan & Sprenger, Charles, 2008. "Discounting Financial Literacy: Time Preferences and Participation in Financial Education Programs," IZA Discussion Papers 3507, Institute of Labor Economics (IZA).
- Gomes, Francisco J & Haliassos, Michael & Ramadorai, Tarun, 2020.
"Household Finance,"
CEPR Discussion Papers
14502, C.E.P.R. Discussion Papers.
- Gomes, Francisco J. & Haliassos, Michael & Ramadorai, Tarun, 2020. "Household finance," IMFS Working Paper Series 138, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Magnus Dahlquist & Ofer Setty & Roine Vestman, 2018.
"On the Asset Allocation of a Default Pension Fund,"
Journal of Finance, American Finance Association, vol. 73(4), pages 1893-1936, August.
- Dahlquist, Magnus & Setty, Ofer & Vestman, Roine, 2016. "On the Asset Allocation of a Default Pension Fund," CEPR Discussion Papers 11052, C.E.P.R. Discussion Papers.
- Roine Vestman & Ofer Setty & Magnus Dahlquist, 2017. "On the Asset Allocation of a Default Pension Fund," 2017 Meeting Papers 255, Society for Economic Dynamics.
- Derek Messacar, 2018. "The Effects of Vesting and Locking in Pension Assets on Participation in Employer-Sponsored Pension Plans," Journal of Labor Research, Springer, vol. 39(2), pages 178-200, June.
- Le Blanc, Julia & Scholl, Almuth, 2017.
"Optimal Savings For Retirement: The Role Of Individual Accounts,"
Macroeconomic Dynamics, Cambridge University Press, vol. 21(6), pages 1361-1388, September.
- Julia Le Blanc & Almuth Scholl, 2015. "Optimal Savings for Retirement: The Role of Individual Accounts," Working Paper Series of the Department of Economics, University of Konstanz 2015-10, Department of Economics, University of Konstanz.
- Matthew Olckers, 2020. "On Track for Retirement?," Papers 2005.01692, arXiv.org, revised Sep 2020.
- Mohammad G. Nejad & Genevieve O’Connor, 2016. "An intersectional approach to evaluating consumer financial literacy," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(4), pages 308-324, December.
- Steeve Marchand, 2018. "Who Benefits from Tax-Preferred Savings Accounts?," Cahiers de recherche 1812, Chaire de recherche Industrielle Alliance sur les enjeux économiques des changements démographiques.
- Sutter, Matthias & Weyland, Michael & Untertrifaller, Anna & Froitzheim, Manuel, 2020.
"Financial Literacy, Risk and Time Preferences: Results from a Randomized Educational Intervention,"
IZA Discussion Papers
13566, Institute of Labor Economics (IZA).
- Matthias Sutter & Michael Weyland & Anna Untertrifaller & Manuel Froitzheim, 2020. "Financial literacy, risk and time preferences - Results from a randomized educational intervention," Working Papers 2020-27, Faculty of Economics and Statistics, University of Innsbruck.
- Matthias Sutter & Michael Weyland & Anna Untertrifaller & Manuel Froitzheim, 2020. "Financial literacy, risk and time preferences – Results from a randomized educational intervention," ECONtribute Discussion Papers Series 019, University of Bonn and University of Cologne, Germany.
- Matthias Sutter & Michael Weyland & Anna Untertrifaller & Manuel Froitzheim, 2020. "Financial Literacy, Risk and Time Preferences - Results from a Randomized Educational Intervention," CESifo Working Paper Series 8489, CESifo.
- Adam M. Lavecchia, 2019. ""Back-Loaded" Tax Subsidies for Saving, Asset Location and Crowd-Out: Evidence from Tax-Free Savings Accounts," Department of Economics Working Papers 2019-04, McMaster University.
- Raquel Fonseca & Simon Lord, 2020. "Canadian Gender Gap in Financial Literacy: Confidence Matters," Hacienda Pública Española / Review of Public Economics, IEF, vol. 235(4), pages 153-182, December.
- Noemi Oggero & Maria Cristina Rossi & Elisa Ughetto, 2020.
"Entrepreneurial spirits in women and men. The role of financial literacy and digital skills,"
Small Business Economics, Springer, vol. 55(2), pages 313-327, August.
- Noemi Oggero & Maria Cristina Rossi & Elisa Ughetto, 2019. "Entrepreneurial Spirits in Women and Men. The Role of Financial Literacy and Digital Skills," Working papers 059, Department of Economics and Statistics (Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche), University of Torino.
- Noemi Oggero & Mariacristina Rossi & Elisa Ughetto, 2019. "“Entrepreneurial Spirits in Women and Men. The Role of Financial Literacy and Digital Skills"," CeRP Working Papers 187, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Agarwalla, Sobhesh Kumar & Barua, Samir K. & Jacob, Joshy & Varma, Jayanth R., 2015.
"Financial Literacy among Working Young in Urban India,"
World Development, Elsevier, vol. 67(C), pages 101-109.
- Sobhesh Kumar Agarwalla & Samir K Barua & Joshy Jacob & Jayanth R Varma, 2013. "Financial Literacy among Working Young in Urban India," Working Papers id:5528, eSocialSciences.
- Agarwalla, Sobhesh Kumar & Barua, Samir K. & Jacob, Joshy & Varma, Jayanth R., 2013. "Financial Literacy among Working Young in Urban India," IIMA Working Papers WP2013-10-02, Indian Institute of Management Ahmedabad, Research and Publication Department.
- Kubitza, Christian & Hofmann, Annette & Steinorth, Petra, 2019. "Financial literacy and precautionary insurance," ICIR Working Paper Series 34/19, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
- Fu, Jonathan, 2020. "Ability or opportunity to act: What shapes financial well-being?," World Development, Elsevier, vol. 128(C).
- Robert Clark & Annamaria Lusardi & Olivia S. Mitchell, 2017.
"Employee Financial Literacy And Retirement Plan Behavior: A Case Study,"
Economic Inquiry, Western Economic Association International, vol. 55(1), pages 248-259, January.
- Robert Clark & Annamaria Lusardi & Olivia S. Mitchell, 2015. "Employee Financial Literacy and Retirement Plan Behavior: A Case Study," NBER Working Papers 21461, National Bureau of Economic Research, Inc.
- García, Jesús María & Vila, José, 2020. "Financial literacy is not enough: The role of nudging toward adequate long-term saving behavior," Journal of Business Research, Elsevier, vol. 112(C), pages 472-477.
More about this item
Keywords
Tax sheltered saving; retirement saving; financial education;All these keywords.
JEL classification:
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
NEP fields
This paper has been announced in the following NEP Reports:- NEP-ACC-2019-05-13 (Accounting & Auditing)
- NEP-AGE-2019-05-13 (Economics of Ageing)
- NEP-EXP-2019-05-13 (Experimental Economics)
- NEP-PUB-2019-05-13 (Public Finance)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cir:cirwor:2019s-10. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Webmaster). General contact details of provider: http://edirc.repec.org/data/ciranca.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.