There’s a knowledge gap surrounding all things retirement. If it were easily comprehensible, Americans wouldn’t devote so much time and stress learning how to properly prepare for it. Many are unaware of what it truly takes to save for retirement or how to get started in the first place. The jargon around retirement can make us fall back into a retreat in search for our blissful, yet ignorant cocoons. What truly constitutes a diverse investment portfolio, and how many years do we need to account for?
Fidelity Investments attempted to answer those very questions. It conducted a Retirement IQ Survey to test America’s general knowledge of the topic. And it’s no surprise many Americans missed the mark. In fact, some were shooting on an entirely different range.
Retirement might seem like a distant pipe dream, entirely out of reach for your generation of workers. But your dream can become reality if you start planning today. Let’s test your retirement IQ and see how prepared you are for your future.
Let’s take a quick look at answers to Fidelity’s eight questions that will help shape your retirement planning. We’ve also included some retirement tips at the end.