Retirement can simply final greater than twenty years, which is why it takes saving and planning. It additionally requires no less than fundamental retirement monetary literacy. In spite of everything, in case you don’t know when to gather Social Safety advantages or what age Medicare begins, you may make expensive errors.
Sadly, far too many Individuals fall brief in terms of their monetary retirement IQ. In truth, TIAA Institute and the World Monetary Literacy Excellence Heart (GFLEC) gave Individuals a failing grade after they requested adults six questions, starting from how Social Safety is calculated to the advantages of a 401(okay) match. Simply 45% might reply three or extra accurately, and solely 7% received 5 or 6 questions right.
We developed our personal six-question Retirement IQ take a look at that can assist you gauge your data. Assume you are able to do higher? Take our quiz under and discover out!
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