For years, Jim Sexton has led financial-education classes at a local library. He’s often struck by gaps in attendees’ knowledge of retirement planning.
“Very few people understand what they need to know to help them prepare financially for the future,” said Sexton, a certified financial planner in Hudson, Ohio. “There’s a lot of ignorance out there about financial planning and retirement.”
He administers a five-question “retirement fluency” test to help pre-retirees assess their knowledge. The results prove his point: many people lack a basic understanding of money issues.
