Back in the spring of 2013 when I was American Bankruptcy Institute Resident Scholar, I had the opportunity to interview Professor Lauren Willis. The interview was recorded as a podcast that is available here. I mention Lauren again (I previously posted about my interview with her here "Breastfeeding and Payday Loans") because you can read a sweet and condensed version of the substance of our conversation at The Motley Fool here ("Knowledge Does Not Equal Skill"). (Warning: You'll need to give The Motley Fool an email address to read the entire piece.) Strangely, The Motley Fool acknowledges Professor Willis's substantial scholarly contributions on the subject but ignores the half-dozen perceptive questions I put to her on the podcast.
The super-short of it is that financial literacy does not entail financial prudence. If you'd like an even shorter version: live below your means. Of course, some can't but many can and haven't such as millions in my cohort of baby boomers. For such, I feel a measure of fear mixed with sadness as I consider their "retirement" futures.
The super-short of it is that financial literacy does not entail financial prudence. If you'd like an even shorter version: live below your means. Of course, some can't but many can and haven't such as millions in my cohort of baby boomers. For such, I feel a measure of fear mixed with sadness as I consider their "retirement" futures.
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