August 2023
Longevity literacy is an understanding of how long people tend to live upon reaching retirement age. It is particularly important since retirement income security requires planning, saving, and preparing for a period that is uncertain in length. Unfortunately, data from the 2023 TIAA Institute–GFLEC Personal Finance Index (P-Fin Index) demonstrate a lack of longevity literacy among the vast majority of U.S. adults. Using three new questions to measure longevity literacy, this report highlights two major groups in the population…