- A TIAA survey found that 51% of U.S. adults failed to correctly answer basic personal finance questions.
- Financial literacy in the U.S. has remained largely stagnant at low levels since 2017, with only a one percentage point increase in understanding since 2024.
- The lowest financial literacy scores were observed among women, Black Americans, Hispanic Americans, and Gen Z.
- The country's low financial understanding significantly impacts consumers, with financial illiteracy estimated to cost Americans $245 billion.
- TIAA proposes a three-part solution focusing on financial education, especially for younger consumers, targeted programs for low-scoring demographics, and improved comprehension of financial risk.
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