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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThink you can handle retirement planning? Most people can't pass this quiz
http://www.omaha.com/money/think-you-can-handle-retirement-planning-most-people-can-t/article_308fb2a6-546e-56ae-833d-e990e0d96254.html
POSTED: TUESDAY, FEBRUARY 17, 2015 1:00 AM | UPDATED: 11:13 AM, TUE FEB 17, 2015.
By Joe Hearn
Can you pass a basic retirement quiz?
The American College of Financial Services recently did a two-part study to gauge baby boomers preparation for retirement. They surveyed 1,019 Americans ages 60 to 75 who had at least $100,000 in investment assets.
Part 1 of the study asked people how knowledgeable they were on certain retirement issues and how confident they were in their preparations for retirement. Of those surveyed, 97 percent said they were either very or somewhat knowledgeable about saving for their own retirement. More than 90 percent said they were at least moderately confident in their ability to achieve a secure retirement. More than half (55 percent) considered themselves well-prepared to meet their income needs in retirement. So far, so good.
Part 2 was a retirement quiz. Oh. Well, that shouldnt be a problem. The survey group seems confident and well-prepared. How did they do? Eighty percent failed. And of the 20 percent who passed, most got Ds. Less than 1 percent got an A. After looking at the results, I think there are a few important takeaways from the study that can help the rest of us increase our chances of a secure retirement.
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Think you can handle retirement planning? Most people can't pass this quiz (Original Post)
Omaha Steve
Feb 2015
OP
Newest Reality
(12,712 posts)1. What is this thing called
retirement????
Art_from_Ark
(27,247 posts)5. It's this thing that happens when you turn 50 or thereabouts
and your company thinks you're becoming a burden on them because you want something called a "raise" because you haven't gotten one in 20 years, and besides, you're increasing the group insurance rates because you're getting so old, so the company boots you out for a young turk who will work for peanuts, and you're stuck staying at home all day, or going fishing, or maybe getting a job as a Walmart greeter because Walmart's the only company that'll hire some old fart like you.
HeiressofBickworth
(2,682 posts)2. BS meter pegged over
It is NOT a basic retirement quiz. The subject sample was people who had over $100,000 in investment assets. Passing or not passing this quiz is one of those first-world problems.
Rochester
(838 posts)3. I tried it, got 71%
I passed, yay.
Skittles
(153,169 posts)4. 77%
Last edited Wed Feb 18, 2015, 03:21 AM - Edit history (1)