2024-04-09 15:00:00 | consumers financial education
... rica’s findings offer a crucial insight into the financial uncertainties facing middle-income Americans today, underscoring the need for improved financial literacy and education to navigate the complexities of modern economic life....
2024-02-15 | retirement financial wellness
... e literacy. Information was collected on the level of knowledge of 12 key retirement-related knowledge areas. While there has been a good deal of attention on financial literacy, almost all those studies have focused on the accumulation period. This study focuses on those ages 50-75, a period where issues such as how best to withdraw income from assets come into play and how to manage finances in retirement is critical.Key Findings Highlight Gaps and OpportunitiesOne of the more eye-popping results that caught The College research team's attention was how well respondents' self-ratings of thei...
2022-05-04 12:00:00 | education finance
... t, and commercial advertising. Since very few schools offer financial education, parental involvement is key to raising financially healthy young adults and teaching kids about money. Source: NFEC...
2021-10-29 09:08:19 | demographics retirement
... lenty of rest (49 percent), seeking medical attention when needed (44 percent), or managing stress (40 percent). "While women are doing their part by saving and investing for retirement, concerted actions are also needed from policymakers and employers to address structural issues, bridge inequalities, ensure equal pay and benefits, and ultimately promote their retirement security," said Collinson. Source: Transamerica Center for Retirement Studies...
2021-10-20 12:10:10 | demographics
... rsonal finances." The P-Fin Index is an annual barometer of financial literacy among the U.S. adult population. It measures knowledge and understanding that enable sound financial decision making and effective management of personal finances. The P-Fin Index is based on responses to a 28-question survey covering eight areas in which individuals inherently function. Earning: determinants of wages and take-home pay. Consuming: budgets and managing spending. Saving: factors that maximize accumulations. Investing: investment types, risk and return. Borrowing/managing debt: relation...
2021-10-14 12:00:00 | banking demographics
... mh Cunningham, COO at Rival Technologies. "If you're not talking to your customers about their financial health and future during the largest transfer of wealth in history, then another financial institution is." Source: MX, Q2, Rival Technologies, Finn AI White Paper...
2021-06-24 09:08:19 | advice banking
... e classified as stressed and 27% as vulnerable. Just 38% of bank customers pass a basic financial literacy test. Big national banks lead the way on advice: The top four banks in the study are all national banks, earning high marks for their diverse advice offerings, the relevancy of advice/guidance and concern for customer needs while providing advice. Study Ranking Bank of America ranks highest in customer satisfaction with retail banking advice with a score of 673. Citibank (640) ranks second. The industry average is 631. The 2021 U.S. Retail Banking Advice Satisfaction Study...
2021-05-12 12:19:00 | demographics
... d EVERFI, fielded from October 1, 2020 – March 31, 2021, is a nationally representative sample of 20,181 college students from 135 higher education institutions located in 34 states. Source: AIG...
2021-05-04 | financial planning
... aritable contributions, you can magnify your giving power by grouping them into years when you have enough deductions to itemize, rather than giving about the same amount every year. Source: AICPA...
2021-04-28 12:00:20 | financial wellness pandemic
... financial knowledge levels especially among high-risk groups. Other recommendations provided by the researchers to help ease financial anxiety and stress include: Adults, particularly those at risk of experiencing financial anxiety or stress, should be encouraged to set aside emergency savings. Even small savings can help buffer against future financial shocks, potentially providing relief to stressed and anxiety-ridden households. Employers can offer workplace financial wellness programs that address money management topics and options to automatically save for the future. Emp...
2021-04-27 09:18:30 | pandemic demographics
... e start of the pandemic (88%) say it has had at least some negative impact their mental wellbeing, including more than half (53%) say the negative impact has been major or moderate. Source: AICPA...
2021-04-05 12:00:05 | consumers
... ess. The index consists of 28 questions spanning eight functional areas: Earning: determinants of wages and take-home pay. Consuming: budgets and managing spending. Saving: factors that maximize accumulations. Investing: investment types, risk and return. Borrowing/managing debt: relationship between loan features and repayments. Insuring: types of coverage and how insurance works. Comprehending risk: understanding uncertain financial outcomes. Go-to information sources: recognizing appropriate sources and advice. Source: TIAA Institute...
2021-04-01 16:00:00 | demographics investing
... — bringing teens the accessible financial education they need. Survey Methodology Survey insights were collected by Greenlight through a ResearchScape survey fielded between February 26 and March 2, 2021, among 1,029 respondents in the U.S. ages 13-20. Source: Greenlight Financial Technology, Inc....
2021-03-31 12:00:04 | pandemic spending
... ing to a pandemic, so I'll just say I'm hopeful we've learned some solid financial lessons," Silvestri says. "We'll know for sure when we conduct our credit card survey next year." Source: Debt.com ...
2021-03-30 12:00:03 | financial literacy
... idence in their abilities to make qualified financial decisions. SOURCE National Financial Educators Council...
2021-02-25 | investing demographics
... ed to 2020, 60 percent of Black Americans say they feel their situations will improve, compared to only 40 percent of white Americans who felt the same way. Source: Charles Schwab/Ariel Investments...
2021-01-15 | financial planning apps advice
... o make incremental improvements by accessing basic financial pillars and rules of thumb, spending challenges, and relevant financial literacy topics. “It’s our goal at eMoney to increase access to personalized financial planning experiences and provide a full spectrum of planning solutions to our clients,” said Chad Porche, VP of product innovation at eMoney. “Incentive is a valuable app for those who are looking to get started and stay on track with their finances, and it enables our advisors to service this broad and diverse audience in a scalable way. We received great feedback f...
2021-01-12 12:05:00 | women retirement
... ce, and advisors can help women close the gap from theoretical to practical in terms of expected long-term care need and how it’s paid for.” Source: The American College of Financial Services...
2021-01-07 12:00:00 | financial literacy
... . It should be noted that the survey results may represent an underestimate of actual losses, since people may lack financial knowledge but remain unaware of their lost opportunities. Source: NFEC...
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