August 4, 2014
Want higher investment returns? Get educated!
Financial Knowledge = Higher Investment Returns
“Financial knowledge is critical to one’s retirement security, finds a new study showing that 401(k) plan participants who scored higher on a test of their financial knowledge earned an additional 1.3 percentage points of investment returns annually on their retirement accounts.” 1.3% may not sound like much but compounded “over a 30-year working life, that higher rate of return would add 25 percent to total savings at retirement.” Are you financially savvy? Take the 5-item quiz by clicking here; answers appear at the end of this blog post. From the Squared Away blog: http://squaredawayblog.bc.edu/squared-away/financial-savvy-means-more-401k-returns/