Scale name: Perceived Financial Knowledge
Description: This 3-item scale is designed to assess individuals’ perceptions of the extent of their financial knowledge as it relates to retirement planning.
Source: Hershey, D. A., Henkens, K., & Van Dalen, H. P. (2010). Aging and financial planning for retirement: Interdisciplinary influences viewed through a cross-cultural lens. International Journal of Aging and Human Development, 70, 1-38. doi: 10.2190/AG.70.1.a
Cronbach's alpha: 0.83
Response format: Likert-type response format (1 = strongly disagree; 5 = strongly agree)
Instructions: Choose one number for each item that indicates how well the statement represents you or describes your opinion.
1. I know a great deal about financial planning for retirement.
2. I know more than most people about retirement planning.
3. When I need financial services, I know exactly where to obtain information on what to do.