Older Women Flunk Financial Literacy Quiz

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By Kerry Hannon

Retired women and women nearing retirement have a financial literacy problem. In a survey released today, the 2017 RICP Retirement Income Literacy Gender Differences Report, from The American College of Financial Services, only 18% of women age 60 to 75 passed. By contrast, 35% of men did (also pretty shabby, if you ask me).

“I would expect a gap,” said Jamie Hopkins, Retirement Income Program co-director at The American College of Financial Services. “But it was actually double. That shocked me.”

The quiz featured a sweep of questions about annuities, company retirement plans, strategies for keeping an income stream in retirement, paying for long-term care expenses and Medicare planning. You can take it yourself here.

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