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Sat Sep 16, 2017, 12:05 PM

Most Americans can't answer these 5 basic money questions

Many young people never learn money basics. Less than half of U.S. states require high school students to take a personal finance class before they graduate, for example.

And results on surveys and retirement IQ tests show a lack of financial literacy.

Here's one question about retirement, asked on Fidelity Investments retirement IQ test, that stumped 84 percent of respondents:

If you were able to set aside $50 each month for retirement, how much would that end up becoming 25 years from now, including interest, if it grew at the historical stock market average?

A. About $15,000
B. About $30,000
C. About $40,000
D. About $60,000
E. More than $60,000

https://www.cnbc.com/2017/09/15/basic-money-questions-that-most-people-cant-answer.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104712632&yptr=yahoo

Interesting quiz! I missed question #1. I am shocked by the answer, shocked I tell you! Shocked!



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