Intergenerational Transfer of Financial Literacy
Author | : Bob Lissington |
Publisher | : |
Total Pages | : 32 |
Release | : 2013 |
ISBN-10 | : OCLC:1309003812 |
ISBN-13 | : |
Rating | : 4/5 ( Downloads) |
Download or read book Intergenerational Transfer of Financial Literacy written by Bob Lissington and published by . This book was released on 2013 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial literacy levels are the focus of increasing concern around the world. One way in which financial literacy is gained is via intergenerational transfer from one's parents and grandparents, but it is unknown to what extent this is occurring. This paper reports the results of a series of interviews with high net worth individual. We find that the intergenerational transfer of financial literacy is less formal than might be expected in high net worth families, and tends to be via observation and experience rather than formal passing on of knowledge. We also find that despite concerns about the ability of their intended heirs to manage their expected inheritance, only a small proportion take some form of action to deal with those concerns.