Video by Ben Felix via YouTube
Source
Investing in your own financial literacy might be one of the best investments that you can make. If you’re watching my videos I’m probably preaching to the choir, but around two-thirds of adults worldwide are financially illiterate. Even in Canada, one of the most financially literate countries in the world, about a third of the population is financially illiterate. Financial literacy is broadly defined as peoples’ ability to process economic information and make informed decisions about financial planning, wealth accumulation, debt, and pensions.
Referenced in this video:
– Optimal Financial Knowledge and Wealth Inequality: https://repository.upenn.edu/cgi/viewcontent.cgi?article=1093&context=bepp_papers
– FINANCIAL LITERACY, RETIREMENT PLANNING AND HOUSEHOLD WEALTH: https://gflec.org/wp-content/uploads/2019/07/Rooij_et_al-2012-The_Economic_Journal.pdf
– Financial literacy and stock market participation: https://www.sciencedirect.com/science/article/abs/pii/S0304405X11000717
– MEASURING THE FINANCIAL SOPHISTICATION OF HOUSEHOLDS: https://www.nber.org/system/files/working_papers/w14699/w14699.pdf
– What Do the Portfolios of Individual Investors Reveal About the Cross-Section of Equity Returns?:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3795690
– Investor Sophistication and the Home Bias, Diversification, and Employer Stock Puzzles: http://www-personal.umich.edu/~mkimball/keio/5.%20papers/sophist3%20copy.pdf
– Presidential Address: The Cost of Active Investing: https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1540-6261.2008.01368.x
– The Economic Importance of Financial Literacy: Theory and Evidence: https://gflec.org/wp-content/uploads/2014/12/economic-importance-financial-literacy-theory-evidence.pdf
– Debt literacy, financial experiences, and overindebtedness: https://www.cambridge.org/core/journals/journal-of-pension-economics-and-finance/article/abs/debt-literacy-financial-experiences-and-overindebtedness/6140546AF9CA1BAC33FAE47F35C5C178
– Investment Literacy, Overconfidence and Cryptocurrency Investment: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3953242
– THE CAUSES AND CONSEQUENCES OF FINANCIAL FRAUD AMONG OLDER AMERICANS: https://crr.bc.edu/wp-content/uploads/2014/11/wp_2014-13.pdf
– Financial literacy and fraud detection: https://www.tandfonline.com/doi/abs/10.1080/1351847X.2019.1646666
– Individual differences in susceptibility to financial bullshit: https://www.sciencedirect.com/science/article/pii/S2214635022000193?via%3Dihub#tbl1
– Measuring financial well-being: https://files.consumerfinance.gov/f/201512_cfpb_financial-well-being-user-guide-scale.pdf
– Financial Well-Being of the Millennial Generation: An In-Depth Analysis of its Drivers and Implications: https://gflec.org/wp-content/uploads/2019/12/Financial-Well-Being-of-the-Millennial-Generation-Paper-20191122.pdf
Bitcoin Awareness, Ownership and Use: 2016–20: https://www.bankofcanada.ca/wp-content/uploads/2022/04/sdp2022-10.pdf
FINANCIAL LITERACY AND RETIREMENT PLANNING IN THE UNITED STATES: https://www.nber.org/system/files/working_papers/w17108/w17108.pdf
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