Why are so many Americans unprepared for retirement? One possible reason is that they simply do not understand basic financial and retirement topics.
In a study on financial literacy, LIMRA asked 2,000 Americans 10 multiple choice and true/false questions. More than one-third (36 percent) answered less than half of the questions correctly and only 12 percent answered nine or more of the questions correctly. “As Americans are required to take greater responsibility for their retirement saving, the issue of financial literacy becomes increasingly important,” said Alison Salka, corporate vice president and director LIMRA Retirement Research.
Based on the results, the majority of Americans (52 percent) have a medium level understanding of financial matters. More than one-quarter of Americans (27 percent) have a high level of financial understanding while 21 percent have a low level. Thirty-one percent of men have a high level of financial understanding compared to 23 percent of women. Almost 40 percent of consumers over the age of 55 have a high level of understanding while only 21 percent of consumers under 55 could say the same thing.
The study also revealed that respondents were unsure of their own knowledge of investments and financial products. One-quarter said they are “not at all knowledgeable” on financial products, yet 60 percent answered five to seven questions correctly. And the few Americans who rated themselves as “very knowledgeable” (6 percent) actually scored poorly on the quiz.
ITE to partner Media Literacy Council on media literacy education
ASIAONE News Priscilla Goy - May 6, 2013
The Institute of Technical Education (ITE) and the Media Literacy Council have sealed a three-year partnership to give ITE students a deeper understanding of Internet and media-related issues. The council's partnership with ITE is its first partnership with a post-secondary education institution since the Council was formed in August last year.
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New Canadian Seniors Suffer Low Health Literacy Rate
The Vancouver Sun Erin Ellis - May 3, 2013
Canada’s already low levels of literacy surrounding health could be slipping even more as immigrants with limited education — and the population in general — get older, according to the organizer of a conference at the University of British Columbia this week.
A 2007 Canadian study found that 60 per cent of adults (and 88 per cent of seniors) lacked the ability to obtain, understand and act on health information such as taking prescription drugs as instructed or preparing for a medical procedure such as a colonoscopy.
That situation may be worsening, said Dr. Mark Fitzgerald, head of respiratory medicine at both UBC and Vancouver General Hospital, who is a key organizer of the four-day event sponsored by the Peter Wall Institute for Advanced Studies.
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A Law firm - A&L Goodbody (Dublin Ireland), has formed a partnership with Suas for the purpose of eradicating low literacy levels among Irish children.
The company plans to support more than 3,000 young people nationally, in partnership with the Literacy Support Program, through almost €150,000 in funding.
Recent research indicates that one in 10 children in Ireland leaves school with serious literacy difficulties, a statistic that rises to one in three in disadvantaged communities.
The Suas Literacy Support Program recruits volunteers and trains them to be literacy mentors.
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Literacy For Children in Buxton
StabroekNews (Georgetown) Guyana Oluatoyin Alleyne - May 5, 2013
Why Three years ago there was little hope that 13-year-old Adunni Blair would have gone on to attend secondary school, but today after participating in the Buxton Youth Developers Literacy Project she is a student of the Annandale Secondary School on the East Coast, and is performing exceptionally well.
Blair herself recognizes the positive impact being a part of the group has had on her life, as the shy teen quickly said that the group has “help me to pass to go to Annandale Secondary School,” when asked how has she benefited.
Nepalese women attend literacy class Guardian.CO.UK Nepal - March 13, 2013
In Nepal, where more than half of women are illiterate, women aged between 16 and 60 have been attending free literacy classes as the government implements a campaign to ensure that everyone can read and write by 2015, the deadline for the UN millennium development goal of achieving universal primary education. Literacy rates for women lag behind those for men in the Himalayan republic.
See captions with series of 9 pictures.
Grade 10 students in the Simcoe County District School Board will write the Ontario Secondary School Literacy Test (OSSLT) on May 14.
The test was previously scheduled to take place April 11, but was cancelled due to forecast inclement weather and resulting bus cancellations that day.
Only students writing the three-hour test will attend school on the morning of May 14. Regular classes will be delayed until the afternoon.
Additional afternoon bus runs will transport students not scheduled to write the morning test, but who will attend classes for the rest of the day.
Students and parents can learn more about the test and review sample questions by following the OSSLT links at www.eqao.com.
ITE to partner Media Literacy Council on media literacy education
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Literacy For Children in Buxton
Nepalese women attend literacy class
