The move to a compulsory accumulation superannuation system placed huge responsibility on individuals to manage their portfolios. A regular response to this problem is to educate people to a higher level of financial literacy. The first of the two research papers below examines how financial literacy impacts financial decisions, especially for the elderly for whom one might argue the importance is more critical. The second paper questions what is almost always taken as a given by those who discuss financial literacy – that one can actually educate pe...