Financial literacy in Singapore has not been analysed in much detail, despite the fact that this is one of the world’s most rapidly aging nations. In this podcast, Professor of Finance Benedict Koh from the SMU Lee Kong Chian School of Business, discusses the key findings of his research jointly conducted with Olivia Mitchell from the University of Pennsylvania and Susann Rohwedder, Senior Economist at the RAND Corporation and Associate Director of the RAND Center for the Study of Aging.
Using a unique new data-set and nationally representative survey - the Singapore Life Panel, they conducted an analysis of older Singaporeans’ financial literacy.
Here, Professor Koh discusses his key findings, including: Do older Singaporeans score better on financial knowledge compared to their counterparts in the United States? What are the empirical linkages between financial literacy and retirement preparedness in Singapore? And is financial literacy positively associated with greater wealth and diversity of portfolios?