More than half — 57% — of Americans who took an eight-question quiz measuring financial literacy flunked, according to the National Financial Educators Council, which created the quiz. Some 10,508 people participated in the NFEC’s test, which asked questions about inflation’s impact on purchasing power and bond prices, among other things.
The group also surveyed 1,251 people around the U.S., asking where they turn for financial advice. Just under 40% said they turned to parents, family, friends, or coworkers; 35.9% said financial professionals; and 24.4% said they don’t have anyone trusted to turn to.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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