Dilemmas of financial consumer security
Financial education for an ageing population

Summary/Abstract: The prevalence of the financial sphere over the real economy is on the increase in the contemporary economy. The financial market’s significance and impact on non-financial entities’ operation is growing. Financial markets affect the economic policies adopted by governments and households. Is it possible for consumers to make rational choices and satisfy their needs in this era of a growing dominance of the financial system over the real economy, constantly changing the economic reality, tangle of innovative financial products offered to them by financial intermediation institutions and novel technologies? Can consumers feel safe and can their economic interests be safeguarded and financial security be ensured now and in the future? This paper identifies the financial security determinants (pillars) for buyers of financial services. The Author proves that financial education and an increased volume of information provided to consumers is not sufficient to protect them as the recipients of financial services.

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