Financial Planning for Retirement: Working with Elementary School Students from the Perspectives of the Anchoring Bias

Abstract

The practical activity presented in the Financial Education class was aimed at classes in the final years of elementary school at a municipal school, located in the interior of the state of Rio de Janeiro. The objective of the lesson plan was to understand the perceptions that students have about the importance of preparing financial planning for retirement as soon as possible. One of the bases of this planning was to understand the most advantageous types of financial investments, as viable instruments, in order to form a capital reserve, with the aim of generating extra income after retirement. Within the context of the class, graphs, tables and videos were inserted that reinforce the real need for such planning, encouraging the formation of a critical sense, where students can make conscious financial decisions. At the same time, identifying biased information that could influence inaccurate decision-making and circumventing the possible formation of anchoring bias. By answering the questionnaire at the end of the class, it was possible to learn about the students' profile, their opinions, knowledge about financial education and their positions related to the topic.