It’s not simply America. New information present folks all around the globe don’t perceive fundamental ideas of funding and inflation. Suzanne Woolley writes on Bloomberg:

Most on-line quizzes are comparatively senseless, promising to disclose which vegetable, sandwich or rock band greatest represents your persona. That was not the case for a brief on-line take a look at given to 16,000 folks in 15 nations this yr. It revealed simply how unprepared an excellent chunk of the world is for retirement. The three-question take a look at, given as a part of the Aegon Retirement Readiness Survey 2018, measured how properly folks perceive fundamental monetary ideas. Most of the contributors failed the quiz, with massive potential penalties for his or her future safety.

Past the sobering lack of monetary literacy, there have been some moderately curious information in Aegon’s annual survey, printed on Tuesday. For instance, some 20 % of employees surveyed in China envisioned spending retirement with a robotic companion. However earlier than we get to that, check out this query — which solely 45 % of individuals around the globe acquired proper: The potential solutions? True, false, have no idea and refuse to reply. Sixteen % of individuals acquired it fallacious. “Have no idea” was chosen by 38 %. Within the U.S., 46 % of employees acquired it proper. Good for you, America — although Germany beat you handily. (The reply, in case you had been questioning, is fake.) It was an inflation query that had the best share of fallacious solutions, nevertheless. Greater than 20 % of employees didn’t grasp how larger inflation hurts their shopping for energy. On condition that declining well being was the most-cited retirement fear, at 49 %, and well being care is an space (within the U.S., particularly) with excessive price inflation, properly, that makes the topic one thing older of us ought to have down chilly.