Professors give themselves a 'B' in financial literacy

Professors give themselves a 'B' in financial literacy
Almost half of Gen X faculty feels inexperienced in investing, Fidelity survey finds.
MAR 28, 2017
Good, but not excellent. That's the self-assessment of college professors regarding their financial literacy, a subject in which they grade themselves a "B." A study of higher education faculty by Fidelity Investments found that while professors say they understand many fundamental financial concepts, they feel they need help in other areas, including understanding health care costs (34%) and choosing specific investments (32%). The study found that baby boomer professors feel more confident in their financial knowledge, giving themselves a "B+," while 47% of Gen X faculty said they feel inexperienced. Overall 37% of professors see themselves as "beginner" investors. While most faculty members are covered by a retirement plan and say they are saving 15% for retirement (which includes their contribution and their employer's), 54% express concern that they could outlive their savings.

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline