Faculty Publications

Title

Misconceptions and Overconfidence Hurting Retirement, New Research Shows Comment Now Follow Comments

Document Type

Article

Publication Date

12-3-2014

Abstract

A new research report, the RICP® Retirement Income Literacy Survey, from the New York Life Center for Retirement Income at The American College found that Americans lack important and basic retirement planning knowledge. The survey tested Americans on their level of retirement planning knowledge and the outcomes were grim: America failed the test scoring an F and scoring an average of 42%. Only roughly 20% of Americans passed the test, scoring over 60%.