How do you stack up against the huge percentage of the American population that is financially illiterate and lacks basic skills in the areas of doing calculations, debt management, and asset building? Here’s the shocking reality…
- Just 20% of Americans passed a recent Retirement Literacy Quiz, and only 1% received a grade of B. Not one single person got an A, according to The American College, which surveyed retirees and pre-retirees with at least $100,000 in household assets (not including their primary residence)
- When asked five multiple-choice questions about topics like interest calculations, mortgage payments and investments, just 39% of adults could answer at least four correctly, according to the FINRA Investor Education Foundation
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- The Securities and Exchange Commission found that “investors have a weak grasp of elementary financial concepts, and lack critical knowledge of ways to avoid investment fraud.”
- You may think investment fraud could never happen to you, but the list of people who got snookered by the Bernie Madoff pyramid scheme reads like a Who’s Who of the rich, famous, and powerful
Which means financial literacy isn’t just nice to have, it’s critical to have. To find out your Financial IQ and how you stack up against the thousands of people who have already taken the quiz, just enter your name and email address now!