Managing money is a life-long skill, and unfortunately, it’s not prioritized within our public education system.

According to a recent MarketWatch report, only 57% of U.S. adults are financially literate. What’s even more shocking is that more than three-quarters of Baby Boomers and the Silent Generation know of 401(k)s but don’t use them. As for the youngest generation to enter the workforce, more than half of the Gen Z population is unfamiliar with Roth IRAs.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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