Retirement Weekly: Is financial illiteracy the cause of financial insecurity in retirement?

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Would better education lead to retirements that are more financially secure?

That question was prompted by the federal government’s recent recommendation that financial literacy courses become “mandatory” for college students. The motivation for this recommendation, from the government’s Financial Literacy and Education Commission, is “empowering [individuals] to make optimal financial choices.”

It is of course difficult to argue with that laudable goal. But how much will the situation improve by making financial literacy courses mandatory?

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