Only 24% of millennials demonstrate basic financial literacy.
That’s according to a study by the National Endowment for Financial Education. In a separate survey by George Washington University, just 8% of the 5,500 millennials polled had what researchers deemed a high level of knowledge of personal finance.
True or false: Buying a single company’s stock usually provides a safer return than a stock mutual fund.
Above is a sample question which only 40% of respondents answered correctly, the answer is false.
There are a number of surveys, polls, and researchers so exact statistics may vary. But one trend is clear, chances are you need to brush up on some basics. Sign up for a coaching session today.
