Are You Retirement Ready? Take This 3 Question Quiz to Find Out!

June 25, 2018

Most online quizzes are designed for mindless fun, promising to reveal which colour, vegetable, Game of Thrones or Star Wars character best represents your personality. That was not the case for a short online test given to more than 14,000 people in 15 countries this year. It revealed just how unprepared a good chunk of the world is for retirement.

The three-question test, given as part of the Aegon Retirement Readiness Survey 2018, measured how well people understand basic financial concepts. Many of the participants failed the quiz, with big potential consequences for their future security, not to mention financial freedom.

How would you go with a sample of the questions that most people across the world failed? Let’s find out!

Want to find out if you are retirement ready?

Take the one minute, 3 question quiz by clicking here and then scroll down for the answers and a brief explanation!

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1. More than $102

The miracle of compound interest means that your money increases by two per cent every year. After the first year, you would have $102. After the second year, you would have $104, and so on.

2. Less than today

Inflation increases the price of goods — so if your money is outpaced by the rate of inflation, your buying power shrinks.

3. False

A stock mutual fund allows you to put your money into several companies at once, diversifying your portfolio and protecting you from putting all your eggs in one basket.

How did you score?

Did you get 100% right? Great! You’ve done better than the majority of people who took the survey across the world!

Didn’t quite get 100% – don’t worry, many people didn’t. But let us help you get there so you ARE well prepared for retirement and financial freedom. Make an appointment with one of our financial advisers today on 03 5221 3585 for Geelong or 03 5381 1951 for Horsham.

Source: https://www.thestar.com/business/2018/05/29/retirement-readiness-a-worldwide-issue-aegon-survey-finds.html

Please note: The information provided in this article is general information only, so it doesn’t take into account your objectives, financial situation and needs. Before acting on any information contained in this website you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. Or make an appointment to discuss your specific situation and put appropriate plans in place.