Retirement Literacy Among Women (and Men) Is Woefully Low: Survey
January 13, 2021 by Ginger Szala
A large majority of Americans, especially women, have failing grades when it comes to retirement literacy, according to a new study by the American College of Financial Services. In fact, 89% of women and 72% of men failed a 38-question test on retirement literacy in a population of 1,509 (821 women, 688 men).
“Unlike men who claim to have higher levels of knowledge and then test poorly, women’s self- reported knowledge is more aligned to their actual literacy scores,” according to the study.