Kim Hugh H, Maurer Raimond, Mitchell Olivia S
The Darla Moore School of Business, University of South Carolina. 1014 Greene St., Columbia, SC 29208, USA.
The Goethe University Frankfurt. Theodor-W.-Adorno-Platz 3, 60323 Frankfurt am Main, Germany.
J Econ Ageing. 2021 Oct;20. doi: 10.1016/j.jeoa.2021.100329. Epub 2021 Jun 2.
We investigate how financial literacy shapes older Americans' demand for financial advice. Using an experimental module fielded in the Health and Retirement Study, we show that financial literacy strongly improves the but not the of financial advice sought. In particular, more financially literate people seek financial help from professionals. This effect is more pronounced among older people and those with more wealth and more complex financial positions. Our analysis result implies that financial literacy and financial advisory services are complementary with, rather than substitutes for, each other.
我们研究金融知识如何影响美国老年人对金融建议的需求。通过在健康与退休研究中设置的一个实验模块，我们发现金融知识能显著提高人们寻求金融建议的意愿，但对寻求建议的频率影响不大。具体而言，金融知识水平较高的人会向专业人士寻求金融帮助。这种影响在老年人以及财富更多、财务状况更复杂的人群中更为明显。我们的分析结果表明，金融知识与金融咨询服务是互补的，而非相互替代。
