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Florida Atlantic Undergraduate Research Journal

College

College of Business

Keywords

Financial literacy, Investment behavior, Retirement savings, Financial education, Demographic factors in investing, Age and investment decisions, Education level and financial knowledge, Online survey research, SPSS data analysis, Amazon Mechanical Turk (MTurk), U.S. adult population, Personal finance decision-making

Document Type

Article

Abstract

There has been a large influx of investment platforms and increasing opportunities over the last century, with investment becoming much more widespread and heavily advertised. It is important for Americans to be knowledgeable about different investing opportunities; thus, this study aims to reveal the different factors that may affect someone’s investing choices. It was anticipated that those with more education and younger people would be more comfortable in and likely to invest and save for retirement. Using an 18-question survey, this study was sent out to United States citizens over the age of 18 through Amazon Mechanical Turk. Receiving 202 responses, the data was then analyzed using SPSS. These findings can be important when addressing the need to focus on teaching older Americans about investing and financial literacy. They also can show that there needs to be more of a focus on informing those with less financial education about the importance of retirement savings. opportunities over the last century, with investment becoming much more widespread and heavily advertised. It is important for Americans to be knowledgeable about different investing opportunities; thus, this study aims to reveal the different factors that may affect someone’s investing choices. It was anticipated that those with more education and younger people would be more comfortable in and likely to invest and save for retirement. Using an 18-question survey, this study was sent out to United States citizens over the age of 18 through Amazon Mechanical Turk. Receiving 202 responses, the data was then analyzed using SPSS. These findings can be important when addressing the need to focus on teaching older Americans about investing and financial literacy. They also can show that there needs to be more of a focus on informing those with less financial education about the importance of retirement savings.

Advisors

Eric Levy

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