Financial Literacy for Retirement

Financial Literacy for Retirement

Core Facts

 [ What is this? ]



Studies have found that Americans in their retirement years gradually lose the ability to manage their money. In other words, the ability to answer basic financial literacy questions wanes as age increases. However, the ability to confidently make financial decisions usually does not falter.

This is quite important, considering that Americans over 50 command an annual income which accounts for almost half of all after-tax income in the U.S. 

A low level of financial literacy makes it easier for those looking to target the elderly for financial abuse and scams, as older consumers whose financial literacy skills have declined may be particularly vulnerable to the sale of unsuitable investments. 

This is one of the bigger reasons why it is so important to invest time in financial literacy to protect oneself from anyone looking to con you.  If you are educated in a subject, you are less likely to be taken advantage of. It is an investment of time and energy that will protect you as time goes on. 

And with fewer employers providing pensions, retirement strategies are more important than ever. Realizing that you don’t have enough in your retirement account is not the situation you want to find yourself in when it comes time to pack up and venture off into retirement. 

But there are many private and public organizations at local, state, and national levels that offer tools and programs to help people build financial literacy skills to make good decisions and to pursue ongoing financial capability.

It's important to be proactive with financial education. Financial coaches and advisors can help individuals inventory their finances and help determine priorities to cope with difficult situations, such as potential default on a mortgage or financial effects of a divorce. There is help available. 

David Lerner Associates provides a free online classroom where you can learn about mutual funds, municipal bonds, REITs, investing in energy, and retirement planning. 




Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC


^ Top


Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website:

^ Top


Jake Mendlinger
Account Manager
516.829.8374 X 232

^ Top