CLIENT ENGAGEMENT TOOL
Retirement Income Literacy Quiz
The 2023 Retirement Income Literacy Study data proved: as a financial professional, you play an important role in educating your clients. That’s why we’re giving you access to the same quiz used in the study—so you can use it as an assessment tool and conversation-starter to deepen your client relationships.
Share the quiz with your clients today and help them prepare for a brighter tomorrow.
2023 Retirement Income Literacy Study
Women's View
There is a noticeable gap in retirement knowledge, confidence, and financial well-being between women aged 50 to 75 and their male counterparts, but there is potential for improvement.
Retirement Research from Retirement Experts
2023 Retirement Income Literacy Study
The latest wave of the research connects financial literacy and advisor education to retirement confidence.
Facts & Figures
31%
The overall average Retirement Income Literacy Score is only 31%.1
+11
Respondents working with a financial advisor boosted their survey scores by over 11%.1
#1
#1 Inflation is the top-ranked knowledge area.1
About the Study
Now in its 10th year, the Retirement Income Literacy Study conducted by The American College of Financial Services offers comprehensive insight and analysis into older Americans’ financial literacy in 12 knowledge areas related to retirement income—including Social Security, longevity, investments, and more. The 2023 study is the fourth wave in the body of research, which is fielded every three years since 2014. The primary research question is: Do Americans in the critical period from ages 50 to 75 know enough about retirement income to feel confident they can achieve the best possible outcomes?
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Center for Retirement Income
Key Retirement Income Planning Resources
The American College Center for Retirement Income is committed to raising knowledge about the issues and concepts facing Americans’ retirement. In addition to the Retirement Income Literacy Study, the Center publishes insights and research, leads in-person and live events, and creates educational curriculum to support financial professionals and benefit society.
Research Team
Eric Ludwig
PhD, CFP®
Director of the Center for Retirement Income, Program Director for the Retirement Income Certified Professional (RICP®) Program
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Kaylee Ranck
PhD
Research Director, The American College Center for Women in Financial Services
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Chet R. Bennetts
CFP®, ChFC®, CLU®, RICP®, CLF®
Assistant Professor, Financial Planning, Larry R. Pike Chair for Insurance and Investments, and Program Director, ChFC® and CFP® Certification Education Programs
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Timi Joy Jorgensen
PhD
Assistant Vice President of Financial Education and Well-being
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Steve Parrish
JD, RICP®, CLU®, ChFC®, AEP®
Professor of Practice and a Scholar in Residence at the McGuire Center for Ethics
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Michael Finke
PhD, CFP®
Professor of Wealth Management, WMCP® Program Director, Director for the Granum Center for Financial Security, Frank M. Engle Distinguished Chair in Economic Security
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Domarina Oshana
PhD
Director of Research and Operations, American College Cary M. Maguire Center for Ethics in Financial Services
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01 / 00
Eric Ludwig
PhD, CFP®
Director of the Center for Retirement Income, Program Director for the Retirement Income Certified Professional (RICP®) Program
Connect on LinkedIn
Read Bio
Kaylee Ranck
PhD
Research Director, The American College Center for Women in Financial Services
Connect on LinkedIn
Read Bio
Chet R. Bennetts
CFP®, ChFC®, CLU®, RICP®, CLF®
Assistant Professor, Financial Planning, Larry R. Pike Chair for Insurance and Investments, and Program Director, ChFC® and CFP® Certification Education Programs
Connect on LinkedIn
Read Bio
Timi Joy Jorgensen
PhD
Assistant Vice President of Financial Education and Well-being
Connect on LinkedIn
Read Bio
Steve Parrish
JD, RICP®, CLU®, ChFC®, AEP®
Professor of Practice and a Scholar in Residence at the McGuire Center for Ethics
Connect on LinkedIn
Read Bio
Michael Finke
PhD, CFP®
Professor of Wealth Management, WMCP® Program Director, Director for the Granum Center for Financial Security, Frank M. Engle Distinguished Chair in Economic Security
Connect on LinkedIn
Read Bio
Domarina Oshana
PhD
Director of Research and Operations, American College Cary M. Maguire Center for Ethics in Financial Services
Connect on LinkedIn
Read Bio
1 2023 Retirement Income Literacy Study. The American College of Financial Services.