Microsoft Word Ed Horwitz Post Dissertation Fina docx

 Conclusion 
Participation in a worksite comprehensive financial education program was found to 
produce a significant difference for improving financial well-being for two of the six measures 
used, after accounting for the demographic differences that existed between the participant and 
control groups. These results support historical findings of decreased financial well-being from 
increased worry about financial management behaviors and current financial position among 
participants. In all but the one measure, the participant group had change levels numerically 

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more positive than the control group, two of which were significantly greater for improving 
financial well-being.  
As noted previously, with the exception of a handful of studies, there has been little 
testing of financial education programs using quasi-experimental methods. The methodology and 
results of this study should provide a meaningful contribution to the body of research in the field 
of financial education, literacy, and well-being. As subsequent generations of retirees follow the 
boomers, it will be noteworthy to explore how the greater challenges of higher medical costs, 
increased longevity through medical advances, a shifting emphasis towards employee savings 
responsibility, and concern over the future viability of government social retirement programs 
impact the financial well-being and subsequent behaviors across the financial literacy spectrum.  
Comprehensive financial education programs will likely grow in popularity among 
employers looking for new forms of employee benefits that will both be valued and have a 
meaningful impact on improving the personal and work lives of employees. The results of this 
study can help support that effort by helping educators explain the value of the program to 
increase financial education and literacy, as well as setting the expectation for the possibility of 
reduced financial well-being as a result of increased awareness of current financial position. If 
employees are going to be able to effectively manage the increased responsibility for retirement 
planning amidst the added complexity from the proliferation of financial products and markets, 
then comprehensive financial education delivered in the workplace will most likely play a 
significant role in the future financial knowledge and satisfaction of millions of Americans.  
 
 
 

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