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There is a growing awareness of the importance of financial education and literacy in personal economic success, yet not many Generation Z are proficient in this area. The lack of understanding can lead to consequences such as not recognizing the need for greater retirement savings, making poor spending decisions, or when overpaying off high-interest debt. In addition, many of the studies on financial education and literacy among Generation Z remain untapped in the context of China. As a result, the researcher emphasizes the evidence by mining data from the Web of Science database and analyzing the data using bibliometrics and content analysis. Contemporary research on financial education and literacy in the web of science has discovered that it is trending strongly across fields like environmental science, healthcare, energy, and economics, according to bibliometric data. Further investigation has uncovered the important writers, journal sources, and universities in China that are creating such knowledge. Subsequently, the content analysis on the focused area has yielded results related to recent findings from key authors, and how their studies describe the socio-demographic and psychological behavior of Generation Zs. As an implication, China's academic research reveals that Generation Zs' subjective and objective financial education may be absorbed into their financial self-beliefs, which affects how they handle their finances. Thus, financial education is instrumental to help them set clear financial goals and plan for the future. [ABSTRACT FROM AUTHOR]

Research has pointed to notable differences between immigrants and the native-born in individual components of retirement resources. To compare the retirement preparation of older immigrants and natives, we calculate measures of comprehensive available resources and an annualized equivalent of comprehensive resources. We document large immigrant-native differences in median profiles of annualized wealth. We also examine how annualized wealth varies by immigrant arrival cohort and find that recent waves of immigrants are poorly situated. Finally, we use regression analysis to estimate the extent to which immigrant-native gaps in retirement resources are attributable either to differences in observable characteristics or to differences in returns to those characteristics. [ABSTRACT FROM AUTHOR]

Financial Education Programs –FEP– enjoy widespread governmental and private support and are considered essential tools for improving financial literacy, encouraging financial inclusion, and increasing consumer financial protection. Therefore, assessing their effectiveness is critical to guarantee that public and private resources are allocated wisely. The available empirical literature casts serious doubts on the effectiveness of FEP in achieving their objectives. Even properly designed -from an impact evaluation viewpoint- FEP fail to deliver long-run effects on individuals' financial literacy or financial outcomes. We highlight the challenges to evaluate the impact of FEP. We showcase the international experience in assessing the effectiveness of these programs and offer a set of recommendations regarding the attributes that FEP should have to allow serious policy evaluation. [ABSTRACT FROM AUTHOR]

Retirement counselors, financial service professionals, and retirement intervention specialists routinely emphasize the importance of developing clear goals for the future; however, few empirical studies have focused on the benefits of retirement goal setting. In the present study, the extent to which goal clarity and financial planning activities predict retirement savings practices was examined among 100 working adults. Path analysis techniques were used to test two competing models, both of which were designed to predict savings contributions. Findings provide support for the model in which retirement goal clarity is a significant predictor of planning practices, and planning, in turn, predicts savings tendencies. Two demographic variables—income and age—were also revealed to be important elements of the model, with income accounting for roughly half of the explained variance in savings contributions. The results of this study have implications for the development of age-based models of planning, as well as implications for retirement counselors and financial planners who advise workers on long-term saving strategies. [ABSTRACT FROM AUTHOR]

The age-banded model provides a new approach to planning for retirement needs. The model reduces errors in estimating expenses, provides an algorithm to calculate the replacement ratio, allows easier incorporation of long term care benefits and significantly reduces funding needs. Two situations are used to illustrate the model, a couple nearing retirement and a younger single person. Compared to the traditional approach, results from the age-banded model show funding needs of the near-retirement couple are reduced by over 16% and contributions for the younger person are reduced by 42%. In both cases the consequent increase in risk exposure is very low. Recommendations for case-specific risk management tools are presented. [ABSTRACT FROM AUTHOR]

This study develops a framework that can be used to examine the retirement savings decision. Using Retirement Confidence Survey data (N = 751), this analysis determined that respondents with higher education levels, higher income, a smaller household size, and favorable financial attitudes tend to currently have a retirement savings program in place. Those who are exposed to workplace financial education are more likely to have a retirement savings program and having a retirement savings program related positively to retirement confidence. [ABSTRACT FROM AUTHOR]

Financial preparation for retirement is key to positive outcomes for future cohorts. Studies suggest that insufficient preparation is occurring among Baby Boomers. Data from community-dwelling adults (N = 1508, ages 40-70) show that most respondents (22-75%) had taken four specific preparation steps, and few reported negative attitudes toward planning. Five correlates (gathering information, locus of control, self-definition as household planner, financial worries, and negative attitudes) and demographic variables tested in bivariate analyses showed most having associations with preparation. In multivariate analyses, however, only two correlates (gathering information and negative planning attitudes) and demographics (race/ethnicity, education, income, health, age, and education) explained planning behavior. [ABSTRACT FROM AUTHOR]

El artículo discurre sobre cuánto un empleado debe ahorrar de sus ingresos. El autor comenta sobre la importancia de la planificación para el futuro, con un enfoque en el ahorro o la inversión cada mes. También se considera la necesidad de establecer objetivos financieros accesibles.

The author discusses the personal process through which she retired from nurse education during the past several years. [ABSTRACT FROM AUTHOR]

The article accounts on the financial education initiative, which is aimed at strengthening the financial security of nurses, of the Center for American Nurses, in partnership with the Women's Institute for a Secure Retirement (WISER) in the U.S. The report says that this initiative is in response to the lack of preparedness of many nurses for retirement planning and savings.

The article focuses on the salary received by academic scientists during summer in the U.S. It compared summer salary with other unexpected income, such as income tax refund and inheritance, which are not difficult to spend. The salary could be used to repay consumer debt or education loans, but financial advisers recommended that the salary be put into savings and as payment for debt. The also suggests contributing at least a part of the summer salary into the retirement savings plan or to Roth Individual Retirement Arrangements.