Health & Fitness
Back to Basics for Baby Boomers
2 out of 3: Americans over 50 that could not correctly answer three basic financial questions
It's undeniable that the current state of the economy is complicated. However, for some it is entirely perplexing. In a recent survey of Americans over 50, only one out of three participants could correctly answer three basic questions on compound interest, inflation, and diversification.
This is particularly troubling, as basic financial knowledge is required when dealing with common financial decisions like student loans, mortgages, and retirement savings. Economics and personal finance are topics that often aren't put into practice until far after high school economics classes are taken and long forgotten. The current economy is ever-changing, and education is key to understanding how to invest.
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Source: The New York Times, "Financial Literacy, Beyond the Classroom," 10/5/2013
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Prepared by BlackRock
Delivered courtesy Joel W. Grams, CRPC®, CLTC,
Registered Representative, Financial Planner, 212 Capital Group
38 Main Street Suite 360, Westlake Ohio 44145
(440) 835-4501 Ext 17, jgrams@212capitalgroup.com
The foregoing discussion is general in nature and not intended as specific advice. New England Financial nor its representatives are engaged in rendering tax, accounting or legal advice. A qualified professional should be consulted regarding the effect of such considerations on the matters covered in this publication.
For information on New England Financial insurance or other financial products and services, please contact
Joel W. Grams, CRPC®, CLTC, Registered Representative, Financial Planner with /New England Financial 38 Main Street Suite 360, Westlake, OH 44145, at (440) 835-4501 ext. 17, jgrams@212capitalgroup.com
.
New England Financial is the registered mark for New England Life Insurance Company (NELICO) Boston, MA 02116. Securities and investment advisory services offered through New England Securities, Corp. (NES)(member FINRA/SIPC) a Registered Investment Advisor. NELICO and NES are MetLife companies. L1213352996[exp1214][OH]