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January 20, 2010, Cover Stories

Can’t Do The Math

By Kerry Pechter   Tue, Dec 22, 2009

You knew it all along, but now there's evidence. Most Americans are financially illiterate. Experts wonder how the millions who don't understand compound interest can possibly fashion successful retirements.

The global financial crisis and the analyses of its causes and effects have helped expose the embarrassing fact that Americans don't know nearly as much about economics, finance or investments as they should.

Leaving aside the revelation that bankers, regulators and even Treasury Secretaries blundered, the crisis highlighted a growing body of evidence that most people can't answer simple questions about compound interest or investment diversification.

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