2017 RICP^® Retirement Income Literacy Survey

The American College New York Life Center for Retirement Income asked Greenwald & Associates to conduct the 2017 RICP® Retirement Income Literacy Survey, a comprehensive study testing retirement income literacy. The goal was to determine whether retirees and pre-retirees have the knowledge they need to successfully plan for a financially secure retirement. This survey is a follow-up of the 2014 RICP® Retirement Income Literacy Survey, which had a similar methodology and questionnaire. 

The result was one of the most comprehensive surveys of retirement income literacy ever completed. 

Online interviews were conducted with 1,244 Americans ages 60-75 with at least $100,000 in household assets (not including their primary residence). The survey included 38 quiz questions in 12 relevant topic areas: retirement planning, ability to maintain lifestyle, income generation, annuity product knowledge, Social Security, life expectancy, death of a spouse, taxes, inflation, housing, medical insurance, and long-term care. 

Just 26% of those surveyed passed the quiz.

Read the full results here.