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Americans Lack Knowledge About Finance

By September 6, 2021 October 1st, 2021 No Comments

David A. Dubofsky

Retired Professor of Finance – University of Louisville and author of “Your Total Wealth…. The Heart and Soul of Financial Literacy”

The Heart And Soul Of Financial Literacy from Thomas Neuhaus on Vimeo.

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*Americans Lack Knowledge About Finance

Business Insider survey of 2007 millennials: only 20.7% understood
the terms and policies of their student loans. And these are college
students!

Federal Reserve’s 2019 Survey of Consumer Finances: Median NW of
a U.S. household is about $120,000.

National Foundation for Credit Counseling 2020 survey: 78% of U.S.
adults believe they could benefit from financial advice.

National Financial Educators Council 2020 survey: 84.5% believe high
schools should teach a course on financial literacy.

Schroders 2021 survey: half of Americans in their 40s-60s don’t know
where/how their retirement money is invested (asset allocation)*

David A. Dubofsky

Author David A. Dubofsky

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