Retirement doesn't seem to be on the minds of many Americans. To see just how much the people know when it comes to financially preparing for their later years, Fidelity Investments conducted a retirement IQ test.
The results were not stellar: The average score was 30 percent, The Washington Post reports.
One question was particularly perplexing to respondents: If you were able to set aside $50 each month for retirement, how much would that end up becoming 25 years from now, including interest, if it grew at the historical stock market average?
a. About $15,000
b. About $30,000
c. About $40,000
d. About $60,000
e. More than $60,000