Generate a proposal for an MBA Finance program on the research topic: Perceptions of Financial Literacy Among Older Generations: Explore how different age groups understand and engage with financial literacy concepts, examining the barriers they face in a

**Proposal for MBA Finance Research Topic:** **Title:** Perceptions of Financial Literacy Among Older Generations: Understanding Engagement and Barriers in Adopting Modern Financial Practices **1. Introduction:** Financial literacy is an essential skill for navigating today’s complex economic landscape. As financial products and services evolve, understanding financial literacy across different demographics becomes increasingly important. This research aims to explore the perceptions of financial literacy among older generations—those aged 50 and above—examining how this demographic understands, engages with, and adopts modern financial concepts and practices in the context of rapidly changing financial environments. **2. Research Objectives:** - To investigate the level of financial literacy among older generations compared to younger age groups. - To identify the barriers older adults face in acquiring and applying financial literacy concepts. - To assess how older generations engage with modern financial tools and technologies, such as mobile banking, online investing platforms, and cryptocurrencies. - To explore the role of education, social influence, and technology in shaping financial literacy perceptions among older adults. **3. Research Questions:** - How do perceptions of financial literacy differ between older generations and younger generations? - What are the key barriers preventing older adults from engaging with modern financial practices? - How do social, educational, and technological factors influence financial literacy among older individuals? - What strategies can be developed to enhance financial literacy and engagement among older adults? **4. Literature Review:** Previous studies highlight that financial literacy is generally lower among older populations compared to younger individuals, often due to gaps in education, unfamiliarity with new technologies, and cognitive decline. Research has shown that older individuals may prefer traditional financial channels, which can limit their engagement with innovative financial products. The literature indicates that tailored educational programs and support systems can enhance understanding and adoption of modern financial practices, but there is limited research focusing specifically on the experiences and perceptions of older generations. **5. Methodology:** This study will employ a mixed-methods approach, combining quantitative surveys and qualitative interviews. - **Quantitative Data**: Surveys will be distributed to various age groups, focusing on their understanding of financial concepts, usage of financial tools, and self-reported levels of financial literacy. - **Qualitative Data**: In-depth interviews will be conducted with a purposefully selected sample of older adults to gain insights on their personal experiences, challenges faced, and insights on financial decisions. Statistical analysis will be used to interpret survey data while thematic analysis will guide the interpretation of interview responses. **6. Expected Outcomes:** - A comprehensive understanding of the financial literacy landscape among older generations, including perceptions, engagement levels, and barriers. - Recommendations for financial institutions, educators, and policymakers on enhancing financial literacy among older adults. - Development of a framework or program aimed at improving financial literacy and fostering the adoption of modern financial practices within this demographic. **7. Contributions to the Field:** This research will significantly contribute to both academic literature and practical applications in finance. By addressing the unique needs and challenges of older generations, it aims to inform targeted educational strategies and policy initiatives. Moreover, it will serve as a foundation for further research into the evolving nature of financial literacy as demographics shift. **8. Timeline:** - **Months 1-2**: Literature review and development of survey/interview instruments. - **Months 3-4**: Data collection (surveys and interviews). - **Months 5-6**: Data analysis. - **Months 7**: Writing and revising the final report. - **Month 8**: Dissemination of findings through presentations and publications. **9. Budget:** - Survey development and distribution: $500 - Interview transcription services: $300 - Research materials and tools: $200 - Incentives for survey participants: $500 - Miscellaneous costs: $200 - **Total Estimated Budget: $1,700** **10. Conclusion:** This research proposal addresses the critical need to understand financial literacy among older generations in a rapidly changing financial landscape. By identifying barriers and enhancing engagement, we can contribute to the financial well-being of a significant demographic that has often been overlooked in financial literacy discussions. By bridging this gap, our study aims to provide a pathway towards improved financial literacy and empowerment for older adults. **Prepared by:** [Your Name] [Your Contact Information] [Your MBA Program] [Date]