JOURNAL ARTICLE

The Impact of Subjective Financial Knowledge on Perceived Retirement Adequacy for US Working Adults.

  • Published In: Journal of Wealth Management, 2025, v. 28, n. 1. P. 109 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Ouyang, Congrong; Naveed, Khurram; Rao, Ramesh K. S. 3 of 3

Abstract

For our research, we wanted to know if there is a critical link between perceived financial knowledge, risk tolerance, and retirement adequacy in US working adults. Analyzing data from the 2022 Survey of Consumer Finances (SCF), we found that bolstering subjective financial knowledge (SFK) through targeted financial literacy initiatives is associated with higher risk tolerance and, ultimately, confidence in achieving a comfortable retirement. This effect is particularly pronounced among individuals with lower income and education levels, highlighting the potential of such interventions to address socioeconomic disparities in retirement security. Our findings offer valuable insights for policymakers, financial educators, and retirement planning professionals seeking to empower individuals in securing their financial future. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Journal of Wealth Management. 2025/06, Vol. 28, Issue 1, p109
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • ISSN:1534-7524
  • DOI:10.3905/jwm.2025.1.270
  • Accession Number:185259939
  • Copyright Statement:Copyright of Journal of Wealth Management is the property of With Intelligence Limited and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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