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Worried About Retirement? This Could Help

Worried About Retirement? This Could Help

If worrying about life in retirement is keeping you up at night, here’s a suggestion: Curl up with a good book on personal finance.

Researchers in Japan have found that people who scored higher on a test for financial literacy were less likely to report feeling anxious about what their retirement years had in store for them. The study was published online April 13, 2017, in the Journal of Risk Research.

The researchers analyzed data from a large, nationwide survey in Japan. As part of the survey, men and women were asked whether they had “anxieties” about what life would be like for them after age 65. For this study, the researchers focused on respondents over age 40, on the theory that middle age is when most people begin to think seriously, and fret, about later life.

Survey questions

Survey respondents also answered four questions to assess their financial literacy. Two involved basic money math, including this one:

Q. Imagine that the interest rate on your savings account was 1 percent per year and inflation was…

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