About the “Big Three”
Professor Annamaria Lusardi and Professor Olivia Mitchell of the Wharton School developed questions that indicate one’s financial literacy. They have been used worldwide, including in the U.S. National Financial Capability Study.
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?
Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, with the money in this account, would you be able to buy…
Do you think the following statement is true or false? Buying a single company stock usually provides a safer return than a stock mutual fund.
“Big Three”
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