2/11/2015 – Three Questions with Implications for Your Financial Future (Knowledge@Wharton)

Financial experts constantly report that people aren’t saving enough for retirement. And everyone knows that too many consumers mismanage their budgets, invest unwisely, spend too lavishly and defeat themselves by buying high and selling low.

But, of course, some are doing much better, accounting for the soaring assets in mutual funds, 401(k) accounts and tax-free college savings programs.

So, on balance, how bad are things, really?

The picture, overall, is in fact pretty bleak, according to studies by Wharton business economics and public policy professor Olivia S. Mitchell, executive director of the Pension Research Council, and Annamaria Lusardi, professor at the George Washington School of Business and academic director of the Global Financial Literacy Excellence Center.

Read the full article at Knowledge@Wharton.