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The World Isn’t Prepared for Retirement

An nameless reader writes: Most on-line quizzes are reasonably senseless, promising to expose which vegetable, sandwich or rock band absolute best represents your character. That was once no longer the case for a brief on-line take a look at given to 16,000 other folks in 15 nations this 12 months. It published simply how unprepared a excellent bite of the sector is for retirement. The three-question take a look at, given as a part of the Aegon Retirement Readiness Survey 2018, measured how smartly other folks perceive elementary monetary ideas. Many of the participants failed the quiz, with big potential consequences for their future security.

Beyond the sobering loss of monetary literacy, there have been some fairly curious information in Aegon’s annual survey, revealed on Tuesday. For instance, some 20 % of employees surveyed in China envisioned spending retirement with a robotic spouse. But ahead of we get to that, check out this query — which most effective 45 % of other folks around the globe were given proper: The imaginable solutions? True, false, have no idea and refuse to reply to. Sixteen % of other folks were given it incorrect. “Do not know” was once selected through 38 %. In the U.S., 46 % of employees were given it proper. Good for you, America — regardless that Germany beat you handily. (The solution, should you have been questioning, is fake.) It was once an inflation query that had the best possible share of incorrect solutions, alternatively. More than 20 % of employees did not take hold of how upper inflation hurts their purchasing energy. Given that declining well being was once the most-cited retirement concern, at 49 %, and well being care is a space (within the U.S., particularly) with top price inflation, smartly, that makes the topic one thing older other folks must have down chilly.

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