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While a majority of consumers consider themselves financially literate, their use of basic financial accounts severely lags behind.
Over half (53.8%) of Americans rate their own financial literacy as good (40.5%) or excellent (13.3%), including 59.2% of men and 49.3% of women, according to a recent Million Dollar Round Table (MDRT) survey, however, far fewer Americans report owning retirement savings accounts and high-yield savings accounts.
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