The vast majority of retirement-age respondents failed a basic quiz on core retirement issues like life expectancy, Social Security, long-term care needs and investment risk.
That's the finding of the American College of Financial Services, which administered its Retirement Income Literacy Survey to more than 1,000 respondents with at least $100,000 in investable assets.
Eighty percent failed, and 94 percent received a "D" or worse, while less than 1 percent scored an "A."
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
