Table 6.
Product-moment Correlations of the Retirement Knowledge Scale (RKS) and Financial Literacy Scale (FLS) with Individual Demographic Characteristics
| RKS | Scale Reflection | Scale Engagement | Scale Evaluation | FLS | |
|---|---|---|---|---|---|
| Race/ethnicity | |||||
| White, non-Hispanic | 0.21*** | 0.16*** | 0.11*** | 0.30*** | 0.26*** |
| Black, non-Hispanic | −0.08*** | −0.05** | −0.03 | −0.15*** | −0.16*** |
| Hispanic | −0.20*** | −0.15*** | −0.13*** | −0.24*** | −0.17*** |
| Other, non-Hispanic | 0.01 | 0 | 0.01 | 0.01 | 0.02 |
| Female | −0.11*** | −0.05* | −0.06** | −0.18*** | −0.15*** |
| Couple Household | 0.19*** | 0.10*** | 0.17*** | 0.18*** | 0.13*** |
| Spanish survey | −0.18*** | −0.12*** | −0.12*** | −0.21*** | −0.15*** |
| US born | 0.14*** | 0.10*** | 0.07*** | 0.18*** | 0.10*** |
| Age | −0.07*** | −0.13*** | −0.12*** | 0.10*** | −0.05* |
| Nursing home | −0.03 | 0 | −0.04 | −0.03 | −0.04 |
| Education | |||||
| Less than high school | −0.33*** | −0.21*** | −0.28*** | −0.33*** | −0.23*** |
| High school graduate | −0.11*** | −0.08*** | −0.11*** | −0.07** | −0.11*** |
| Some college | 0.06** | 0.08*** | 0.04 | 0.05* | 0.05* |
| College grad and above | 0.35*** | 0.19*** | 0.32*** | 0.32*** | 0.28*** |
| Working status | 0.15*** | 0.17*** | 0.15*** | 0.05* | 0.12*** |
| Retired Status (Survey) | 0.07** | −0.03 | 0.02 | 0.18*** | −0.01 |
| Household income | 0.32*** | 0.19*** | 0.28*** | 0.30*** | 0.23*** |
| Receives social security | −0.15*** | −0.17*** | −0.15*** | −0.03 | −0.12*** |
Significance denoted as *p<0.10 **p<0.05, ***p<0.01