Metlife has just published its 2011 Retirement Income IQ Survey giving insights into the knowledge, more accurately the lack of it, of pre-retires about retirement issues.
Looks to me like older people need to do a bit of extra homework.
As you can see from the example, only a third of people got the question about longevity correct.
Whenever I see research that says that “X% of older people think they have enough money to retire” I cringe since most of them would not have a clue if they have enough or not. This report reinforces that view. Dick Stroud
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