Tag: literacy
Americans are Financially Illiterate – and Maybe Insane
Posted on March 27, 2018 in Money by Nathan Cherry
But financial literacy is more than just knowing the tools and resources needed to be financially successful. Financial literacy includes understanding the “why” behind the financial goal. A writer for Bloomberg Finance recently told Financial Advisor IQ “Once you know why to do it there are resources that will show you how.” Maybe the “why” is more important than the “how.”
For example, accumulating funds that will be tax-free in retirement is a great idea. But the average American is not likely to put much priority on this without knowing why it’s important.