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January 22, 2013 at 08:35 AM
Most retirement plan participants learn about finances from their parents, according to new research.
OneAmerica Financial Partners, Inc. released this finding in a summary of results from an online survey of 6,360 retirement plan participants. OneAmerica polled visitors to its participant website to determine how they learned about finances and prepared for retirement, what resources are most effective and how confident they are with their retirement preparations.
Fifty-six percent of respondents reported learning about finances from their parents, choosing from a list that also included books, a teacher or other family members. Younger adults between the ages of 20 and 30 were even more likely (71 percent) to have learned from parents, the report states.
“They should understand how important it is that they, themselves, understand finances and the basics of retirement, knowing their children are learning from them.”
