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Financial Literacy and Financial Sophistication in the Older Population (PDF)
University of Michigan Retirement Research Center [MRRC] 
May 3, 2010 Research paper. Excerpt: For this sample of older respondents over the age of 55 [from the 2008 Heath & Retirement Study], we find that people lack even a rudimentary understanding of stock and bond prices, risk diversification, portfolio choice, and investment fees. [Working paper no. 2009-216] MORE >> |
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