Financial literacy and retirement well‑being in Canada : an analysis of the 2014 Canadian Financial Capability Survey / [Yoni Simhon and Steve Trites]. : FC5-49/2017E-PDF

“Our study focuses on retirees (Canadians aged 65 and older, who are retired) and near-retirees (Canadians aged 55 and older, who are working). We conducted an analysis using data from the 2014 Canadian Financial Capability Survey to model the impact of an increase in financial literacy on financial well-being. Among the studied age groups, we found that the two most important elements of financial literacy were (1) financial confidence and (2) making use of advice on financial products. In almost every instance, these variables were related to our indicators of financial well-being. Our results suggest that retirees and near retirees may benefit from experiential learning approaches intended to increase financial confidence as well as from using the skills related to making use of advice on the products that help them reach their financial goals"--Executive summary.

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