Tag: manage money
Julie Taylor-Cooper, who worked for decades as an accounting manager, now scrapes by on her late husband’s Social Security checks and a $145-a-week job. Many baby boomers like Taylor-Cooper may not realize there are various strategies for claiming full Social Security benefits that can have a dramatic impact on their retirement security. “There are eight…
Abstract This paper highlights the extent and effects of financial illiteracy on American households, reviews previous efforts to promote financial literacy, and discusses new directions for such initiatives. None of the traditional approaches to financial literacy – employer-based, school-based, credit counseling, or community-based – has generated strong evidence that financial literacy efforts have had positiv…
