The objective of this conference is to present the innovative ideas and work of the Financial Literacy Center teams. Each presentation provides a brief project overview, insights on what works to improve financial literacy and financial capability, and a discussion about what remains to be answered with further work.
Session 1 | Session 2 | Session 3 | Session 4 | Session 5 | Session 6 | Video Gallery
Introduction
Presentation of the Financial Literacy Center
Annamaria Lusardi, GFLEC
Presentation
SESSION 1 | Understanding and Measuring Financial Literacy
Measuring Financial Literacy and Financial Capability
Arie Kapteyn, RAND; Annamaria Lusardi, GFLEC
Presentation
Understanding the Geography of Financial Literacy in the U.S.
Chris Bumcrot, Applied Research and Consulting
Presentation
Optimal Knowledge and Wealth Inequality
Olivia S. Mitchell, Wharton
Discussant: Gary Mottola, FINRA Investor Education Foundation
SESSION 2 | Financial Literacy among Young People
Building Financial Literacy for K–8 Pre-Service Teachers and Adult Learners
Dorothy Wallace, Dartmouth College
Presentation
Five Steps to Financial Planning Success
Joanne Yoong, RAND; Anya Savikhin, University of Wisconsin – Madison
Presentation
Demonstrating the Returns to Work for Children after SSI
Jody Hoff, Federal Reserve Bank of San Francisco
Presentation
Discussant: Billy Hensley, National Endowment for Financial Education
SESSION 3 | Financial Literacy among the Middle Aged
The Persistence of Defaults: When, Why and for Whom?
David Laibson, Harvard
Presentation
Do Financial “Health” Checkups Prompt Behavioral Changes?
Matthew Darling, ideas42
Presentation
Discussants: Janet Garkey, Credit Union National Association; Sarah Holden, ICI
Presentation
“The Storm to Come”: A Conversation about Annuities
Moderator: Catherine Weatherford, Insured Retirement Institute
Panelists: Olivia S. Mitchell, Wharton; David Laibson, Harvard
SESSION 4 | Financial Education in the Workplace
Evaluating Workforce Financial Education and Encouraging New Hires to Save for Retirement
Annamaria Lusardi, GFLEC
Presentation
Can Commitment Savings Help Americans Be Better Prepared for Retirement?
David Laibson, Harvard
Presentation
Discussants: Sol Carbonell, Boston Fed; Dan Iannicola, Financial Literacy Group
SESSION 5 | Financial Literacy Close to and After Retirement
How Financial Advisors Influence Social Security Claiming
Mathew Greenwald, Mathew Greenwald & Associates
Presentation
What Are the Real-World Framing Influences on Retirement Claiming Behavior?
Arie Kapteyn, RAND
Presentation
Improving Understanding of Retirement Health Care Expenditures
Howell Jackson, Harvard Law School
Presentation
Discussants: Ken McDonnell, Insured Retirement Institute; Ryan Wilson, AARP
SESSION 6 | Financial Literacy for Vulnerable Groups
Improving Legal Immigrants’ Access to Financial Services
Silvia Barcellos, RAND
Presentation
Raising Awareness of Tax-Time Saving Options (for the low-income population)
Nick Maynard, Doorways to Dreams
Encouraging Better Financial Decision Making Among Low-Income and Minority Groups
Nick Maynard, Doorways to Dreams
Discussant: Jeanne Hogarth, Federal Reserve Board
PANEL DISCUSSION: Directions for Further Research
Moderator: Jason Fichtner, George Mason University and Georgetown University
Panelists: Gerri Walsh, FINRA; Camille Busette, Consumer Financial Protection Bureau
SESSION 1 | Understanding and Measuring Financial Literacy
SESSION 2 | Financial Literacy among Young People
SESSION 3 | Financial Literacy among the Middle Aged
SESSION 4 | Financial Education in the Workplace
SESSION 5 | Financial Literacy Close to and After Retirement
SESSION 6 | Financial Literacy for Vulnerable Groups