This Confirms Our Worst Fear: 74% of Seniors Failed a Basic Financial Literacy Quiz
The American College New York Life Center for Retirement Income
A recent survey of over 1,300 Americans finds that almost 3 out of 4 people aged 60 to 75 failed to pass a quiz measuring financial literacy, and only 5% managed a grade of 80% or better. The poor performance suggests many Americans aren't making the most of their money in retirement.
Campbell, Todd, "This Confirms Our Worst Fear: 74% of Seniors Failed a Basic Financial Literacy Quiz" (2017). In the News. 2266.