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Ageing analysis links numeracy skills with more sex

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New analysis from International Longevity Centre UK finds that high numeracy skills in old age correlates with higher savings, better care planning, and even with more sex. The think tank argues for urgent action to better understand  ‘what works’ in terms of improving financial outcomes for older people. ILC-UK questions whether we have adequate evidence that financial education makes a difference in old age. 

A study of the English Longitudinal Study of Ageing found that only one in four English people aged 50 plus can perform a simple compound interest calculation (one in three men and one in six women). The think tank finds that greater numeracy is associated with higher saving levels and better planning for care and that, to quote the organisation: “Surprisingly and perplexingly, older people who have good numeracy, tend to have sex more often than those who don’t.”
 
Presenting new evidence at the ILC-UK National Retirement Income Summit today, ILC-UK Research Fellow, Dr Cesira Urzi Brancati will argue that while there is strong evidence of a link between good numeracy and good financial outcomes, the evidence of what works in terms of improving financial literacy is limited. 
 
With greater responsibility for financial wellbeing in retirement being placed on individuals, Dr Urzi Brancati will argue that urgent action is needed to better understand how financial capability links to good outcomes. Dr Urzi Brancati will add that the financial wellbeing of older people is being potentially undermined by poor numeracy.

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