Financial Illiteracy Statistics

  • In 2012, 56% of people in the US have no ‘rainy day funds’. FINRA Investor Education Foundation
  • More than half of millennials (about 54 percent) say debt is their “biggest financial concern.” Wells Fargo Study
  • 39% of millennials worry about their financial future “at least once a week.” Fidelity study
  • There’s a $6.6 trillion gap between the pensions and retirement savings of U.S. households and what they should have to maintain their living standards in retirement – and the gap is growing. Retirement Income Deficit report by Retirement USA
  • 41% of baby boomers expect their standard of living to decrease in retirement. Transamerica Center for Retirement Studies.
  • Only 14% of baby boomers have a written retirement strategy. Transamerica Center for Retirement Studies.
  • HR professionals indicated financial worries continue to contribute to employee stress on the job. MetLife
  • 83% said that personal financial challenges had a large impact or some impact on overall employee performance. Society for Human Resource Management
  • In 2012, 56% of people in the US have no ‘rainy day funds’. FINRA Investor Education Foundation
  • 46% of Americans have less than $10,000 saved for retirement. Employment Benefit Research Institute
  • In December 2013, 19% of all homes owed at least 25% more on their mortgage than the home was worth. RealityTrac
  • Student loan debt exceeds $1.1 Trillion.    Fastweb and FinAid
  • As reported in September 2013, the three-year cohort default rate rose from 13.4% for FY 2009 to 14.7% for FY 2010. US Department of Education