How Lack of Financial Literacy Is Negatively Affecting Americans’ Retirement Savings
Article Excerpt: "With inflation dominating the financial lives of Americans in 2022, workers and retirees of all ages cut their retirement savings, struggled with debt and found it difficult to make ends meet. According to a recent Federal Reserve study, those with low levels of financial literacy found it even harder to cope and save for retirement. ...Fed study linked a lack of knowledge to participating in financial decision-making and managing investments, it also found that retirees with private income, like investments and pensions, reported higher levels of financial well-being than those who relied solely on Social Security. "
Resource: yahoo.com