Financial Literacy for Life
April 4, 2025
Understanding money isn’t just about making more of it—it’s about making smarter decisions that set you up for long-term success. Yet financial literacy rates in the U.S. remain stubbornly low. According to the TIAA Institute-GFLEC Personal Finance Index (P-Fin Index), U.S. adults only score 48% on average when answering basic financial literacy questions,¹ highlighting a critical gap in knowledge.
How TMG and 3rd Decade Are Making a Difference
At The Mather Group, we recognize that financial literacy is key to empowering individuals to make informed, confident financial decisions. That’s why we partnered with 3rd Decade, an organization dedicated to equipping adults with the financial building blocks they need for lifelong success. Several of our team members were paired with young adults, mentoring them on how to develop healthy savings habits, manage student debt, and build financial confidence and security. Hear from one of those pairs about their experiences in the program here.
By supporting initiatives like these, TMG is committed to making financial expertise more accessible. We believe that when people understand their finances, they can align their wealth with what matters most—whether that’s providing for their families, growing their businesses, or securing a fulfilling retirement. We encourage fellow wealth advisors and RIAs to get involved in mentorship and financial education organizations to build a stronger financial future for future generations.
Money Knowledge Matters at Every Age
The reality is that financial education is a lifelong need. Whether you’re just earning your first paycheck, managing major life expenses, or planning for retirement, a strong foundation in financial literacy can be the difference between security and stress. Here’s why financial education matters at every stage of life—and how to ensure you’re staying ahead of the curve.
Starting with a Strong Foundation
The earlier you understand money, the better your financial future. But many young Americans lack the necessary education to make informed decisions—and that lack of financial literacy can have serious consequences. Only 31% of Gen Z feel financially secure, and 39% report feeling stressed about making poor money choices.² Without the right financial skills, individuals risk falling into cycles of debt and financial insecurity.
Teaching financial basics like budgeting, saving, and understanding credit early on sets individuals up for long-term success. The demand for financial education is clear—68% of teens say they would enroll in a financial literacy course if offered, but only 31% report having access to one at school.3
Navigating Life’s Milestones
By mid-career, professionals often have higher incomes but also increased financial responsibilities—mortgages, family expenses, and investment decisions. Despite their earning power, many are unsure about retirement readiness. According to a recent Schwab Retirement Survey, more than 40% of workers say they feel behind on saving for retirement.4
The consequences of this gap are real. Economic pressures have led many American workers to reduce their retirement savings or even withdraw funds early, putting their future financial security at risk.5 Understanding investment strategies, debt management, and tax implications is essential for making informed decisions that align with long-term financial goals.
Even for professionals who have successfully managed finances on their own, the increasing complexity of life’s financial responsibilities can often require assistance. A financial advisor can provide personalized strategies for wealth preservation, tax efficiency, and retirement readiness. Look for a fee-only fiduciary advisor to avoid conflicts of interest.
Preparing for Retirement
From estate planning to navigating Social Security, retirement is a major financial transition that requires careful planning. Financial literacy skills are often overlooked for those approaching retirement—and without proper planning, retirees risk outliving their savings. More than 50% of Americans fear running out of money in retirement, and a significant portion of retirees express regret over not saving enough.⁶
Financial literacy at this stage is about preservation—understanding withdrawal strategies, tax implications, and estate planning to ensure assets last. Without proper planning, retirees risk outliving their savings, facing unexpected healthcare costs, or making costly investment mistakes. Studies show that those with higher financial literacy are significantly more likely to plan for retirement and feel financially secure.7
Taking Control of Your Financial Future
Financial literacy is a lifelong journey. No matter where you are in your financial life, increasing your knowledge can lead to smarter decisions, reduced stress, and greater security.
If you're looking for a trusted partner who knows the ins and outs of retirement planning, The Mather Group is here to help. Our expert team provides full-service financial guidance with transparent pricing and no hidden fees—so you can focus on what matters most. Reach out today to start planning for a more secure financial future.
Need more help?
Contact The Mather Group, your advisor, health insurance professional, or your state’s health insurance assistance program (SHIP) for additional information. SHIP is a national program that offers one-on-one Medicare counseling and assistance to individuals and their families.
Understanding money isn’t just about making more of it—it’s about making smarter decisions that set you up for long-term success. Yet financial literacy rates in the U.S. remain stubbornly low. According to the TIAA Institute-GFLEC Personal Finance Index (P-Fin Index), U.S. adults only score 48% on average when answering basic financial literacy questions,¹ highlighting a critical gap in knowledge.
How TMG and 3rd Decade Are Making a Difference
At The Mather Group, we recognize that financial literacy is key to empowering individuals to make informed, confident financial decisions. That’s why we partnered with 3rd Decade, an organization dedicated to equipping adults with the financial building blocks they need for lifelong success. Several of our team members were paired with young adults, mentoring them on how to develop healthy savings habits, manage student debt, and build financial confidence and security. Hear from one of those pairs about their experiences in the program here.
By supporting initiatives like these, TMG is committed to making financial expertise more accessible. We believe that when people understand their finances, they can align their wealth with what matters most—whether that’s providing for their families, growing their businesses, or securing a fulfilling retirement. We encourage fellow wealth advisors and RIAs to get involved in mentorship and financial education organizations to build a stronger financial future for future generations.
Money Knowledge Matters at Every Age
The reality is that financial education is a lifelong need. Whether you’re just earning your first paycheck, managing major life expenses, or planning for retirement, a strong foundation in financial literacy can be the difference between security and stress. Here’s why financial education matters at every stage of life—and how to ensure you’re staying ahead of the curve.
Starting with a Strong Foundation
The earlier you understand money, the better your financial future. But many young Americans lack the necessary education to make informed decisions—and that lack of financial literacy can have serious consequences. Only 31% of Gen Z feel financially secure, and 39% report feeling stressed about making poor money choices.² Without the right financial skills, individuals risk falling into cycles of debt and financial insecurity.
Teaching financial basics like budgeting, saving, and understanding credit early on sets individuals up for long-term success. The demand for financial education is clear—68% of teens say they would enroll in a financial literacy course if offered, but only 31% report having access to one at school.3
Navigating Life’s Milestones
By mid-career, professionals often have higher incomes but also increased financial responsibilities—mortgages, family expenses, and investment decisions. Despite their earning power, many are unsure about retirement readiness. According to a recent Schwab Retirement Survey, more than 40% of workers say they feel behind on saving for retirement.4
The consequences of this gap are real. Economic pressures have led many American workers to reduce their retirement savings or even withdraw funds early, putting their future financial security at risk.5 Understanding investment strategies, debt management, and tax implications is essential for making informed decisions that align with long-term financial goals.
Even for professionals who have successfully managed finances on their own, the increasing complexity of life’s financial responsibilities can often require assistance. A financial advisor can provide personalized strategies for wealth preservation, tax efficiency, and retirement readiness. Look for a fee-only fiduciary advisor to avoid conflicts of interest.
Preparing for Retirement
From estate planning to navigating Social Security, retirement is a major financial transition that requires careful planning. Financial literacy skills are often overlooked for those approaching retirement—and without proper planning, retirees risk outliving their savings. More than 50% of Americans fear running out of money in retirement, and a significant portion of retirees express regret over not saving enough.⁶
Financial literacy at this stage is about preservation—understanding withdrawal strategies, tax implications, and estate planning to ensure assets last. Without proper planning, retirees risk outliving their savings, facing unexpected healthcare costs, or making costly investment mistakes. Studies show that those with higher financial literacy are significantly more likely to plan for retirement and feel financially secure.7
Taking Control of Your Financial Future
Financial literacy is a lifelong journey. No matter where you are in your financial life, increasing your knowledge can lead to smarter decisions, reduced stress, and greater security.
If you're looking for a trusted partner who knows the ins and outs of retirement planning, The Mather Group is here to help. Our expert team provides full-service financial guidance with transparent pricing and no hidden fees—so you can focus on what matters most. Reach out today to start planning for a more secure financial future.
Need more help?
Contact The Mather Group, your advisor, health insurance professional, or your state’s health insurance assistance program (SHIP) for additional information. SHIP is a national program that offers one-on-one Medicare counseling and assistance to individuals and their families.
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