woman with calculator Thosewith greater financial literacy were more likely to track theirspending; save and plan for retirement; have nonretirement savings.(Photo: Shutterstock)

Ignorance is not bliss—not when it comes to financial wellness, anyway.

According to the third annual Personal Finance Index released by the TIAAInstitute and the Global Financial Literacy Excellence Center atthe George Washington University School of Business, Americansdon't have the knowledge of personal finance that can enable themto make sound financial decisions.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.