New Report Highlights Link Between Retirement Fluency and Retirement Confidence

Many are uncertain about the best ways to save for retirement, how to make their money last and how much they’ll receive from Social Security and Medicare

NEW YORK, April 17, 2024 /PRNewswire/ — A survey by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) connects people’s confidence in their retirement plans to a new benchmark called “Retirement FluencySM,” which measures how much people know about topics, such as Social Security, Medicare and options for retirement savings. When asked about those topics, Americans correctly answered only 40% of the questions.

These findings are from the 2024 TIAA Institute-GFLEC Personal Finance (P-Fin) Index – an annual barometer of financial literacy – which for the first time also covered Retirement Fluency.