The TIAA Institute and GFLEC have tracked American monetary data yearly for the previous decade with the identical 28-question survey. In 2026, on the tenth anniversary of the TIAA Institute–GFLEC Private Finance Index, they launched one thing new: the P-Fin 8. It’s an eight-question monetary literacy quiz that’s designed to reflect the total check.
Researchers ran a statistical evaluation of all 28 questions throughout eight domains and chosen a single query from every area that finest predicts total rating. The brief quiz tracks the total examination virtually completely, capturing the identical image. The nationwide common on the P-Fin 8 was 46% right, whereas the total 28-question examination averaged 47%.
The annual P-Fin Index discovered that monetary literacy in America is at a 10-year low. Take the quiz beneath and see the place you land.
Take the 8-Query Monetary Literacy Quiz Earlier than You See the Solutions
The P-Fin 8 contains one query from every of eight monetary data domains: incomes, consuming, saving, investing, borrowing, insuring, comprehending danger, and discovering dependable steering. Learn every query and decide to a solution earlier than you scroll to the outcomes.
Query 1 — Incomes
Mark’s wage has elevated over the previous two years. What could be a believable cause for this?
A. The variety of employees with Mark’s expertise elevated the place he lives and works
B. New know-how decreased the demand for employees with Mark’s expertise
C. Mark accomplished a number of coaching programs at an area faculty
Query 2 — Consuming
A family price range can’t be used for which of the next?
A. To trace family monetary belongings
B. To plan for obligatory family bills
C. To plan family discretionary spending
Query 3 — Saving
Akiko has $1,000 in financial savings that earns a 2% price of return over the course of the 12 months. The inflation price in the course of the 12 months is 3%. Which assertion is true?
A. She will be able to afford to purchase fewer issues on the finish of the 12 months
B. She will be able to afford to purchase extra issues on the finish of the 12 months
C. It’s not clear whether or not she will afford to purchase extra issues or fewer issues on the finish of the 12 months
Query 4 — Investing
Which assertion about investing is right?
A. Investing within the inventory of a single firm is often safer than investing in a mutual fund that holds shares of many corporations in a number of industries
B. Investing in a mutual fund that holds shares of many corporations in a number of industries is often safer than investing within the inventory of a single firm
C. Investing within the inventory of a single firm and investing in a mutual fund that holds shares of many corporations in a number of industries are usually equally protected
Query 5 — Borrowing
José owes $1,000 on a mortgage that has an rate of interest of 20% per 12 months compounded yearly. If he makes no funds on the mortgage, what number of years will it take for the quantity he owes to double?
A. Lower than 5 years
B. 5 to 10 years
C. Greater than 10 years
Query 6 — Insuring
Katherine is a single 25-year-old employee who’s in good well being. What kind of insurance coverage protection is she probably to wish within the close to time period?
A. Life insurance coverage
B. Incapacity insurance coverage
C. Lengthy-term care insurance coverage
Query 7 — Comprehending Danger
Lottery A pays a prize of $200 and the prospect of successful is 5%. Lottery B pays a prize of $90,000 and the prospect of successful is 0.01%. Anticipated winnings are higher during which lottery?
A. Lottery A
B. Lottery B
C. They’re equal
Query 8 — Discovering Dependable Steering
Which of the next seems to be inappropriate funding recommendation for the respective particular person?
A. A inventory index fund to a 30-year-old employee saving for retirement
B. A bond fund to a 60-year-old employee for a few of her retirement financial savings
C. A inventory fund that invests in small start-up companies to a 75-year-old retiree
Able to test your solutions? Scroll down.
How Did Individuals Rating on Every of the Eight Questions?
Six in 10 Individuals answered 4 or fewer questions on this monetary literacy quiz. One in three couldn’t get previous two proper solutions. Solely 15% scored seven or eight out of eight.
| Monetary Literacy Tier | Proportion Rating Bracket | Questions Answered Accurately | Share of U.S. Adults |
| Very Robust Data | 76% to 100% | 7 to eight questions | 15% |
| Robust/Intermediate Literacy | 51% to 75% | 5 to six questions | 24% |
| Primary/Novice Literacy | 26% to 50% | 3 to 4 questions | 24% |
| Very Low Monetary Literacy | Lower than 26% | 2 or fewer questions | 36% |
Supply: TIAA Institute–GFLEC Private Finance Index (2026). Be aware: Percentages sum to 99% attributable to rounding within the unique report dataset.
| Query | Area | Appropriate Reply | Nationwide Rating |
| Mark’s wage improve | Incomes | C — Coaching programs constructed his expertise and incomes potential | 56% |
| Family price range limits | Consuming | A — Budgets plan spending; they don’t monitor monetary belongings | 49% |
| Akiko’s buying energy | Saving | A — Inflation outruns her 2% return; she buys much less | 48% |
| Mutual fund vs. single inventory | Investing | B — A diversified fund is safer than a single inventory | 54% |
| José’s debt doubling time | Borrowing | A — Lower than 5 years | 40% |
| Katherine’s protection want | Insuring | B — Incapacity insurance coverage | 27% |
| Lottery anticipated worth | Comprehending Danger | A — Lottery A ($10 anticipated worth) beats Lottery B ($9) | 46% |
| Funding recommendation mismatch | Discovering Dependable Steering | C — Begin-up shares are inappropriate for a 75-year-old retiree | 46% |
Supply: 2026 TIAA Institute-GFLEC Private Finance Index.
These two questions are value a better look:
Query 5 — Borrowing
At 20% annual compound curiosity, a $1,000 debt doubles in about 4 years. Not 5 to 10. Most respondents picked the center vary or mentioned they didn’t know. Bank cards usually carry 20% curiosity or increased. Misreading that math by even just a few years has an actual greenback price.
Query 6 — Insuring
Incapacity insurance coverage was the fitting reply, however most respondents selected life insurance coverage for a 25-year-old with no dependents, or long-term care for somebody a long time away from needing it. A younger, wholesome single employee’s largest monetary danger is an sickness or harm that stops her earnings. That’s what incapacity insurance coverage covers.
Solely 27% Received the Insurance coverage Query Proper
Insurance coverage literacy scores low on each the P-Fin 8 and the total 28-question index. The sample persists as a result of insurance coverage data isn’t one thing you take in via each day monetary habits. Protection guidelines, coverage sorts, and pricing require energetic studying.
The three insurance coverage sorts in Query 6 cowl completely different phases of monetary life. Incapacity insurance coverage protects your earnings whilst you’re working. Lengthy-term care insurance coverage protects your financial savings in retirement. Medicare covers healthcare prices in retirement, however with gaps most individuals don’t uncover till a invoice arrives.
Understanding which protection issues at which stage is its personal monetary talent.
Gen Z Averaged 38% Appropriate, the Lowest Rating of Any Technology
The P-Fin 8 reproduces the generational hole documented within the full 28-question research. Gen Z averaged 38% right. Child boomers averaged 52%. The nationwide common is 46%.
| Technology | P-Fin 8 Common | Answered 2 or Fewer Accurately |
| Child Boomers | 52% | 27% |
| Gen X | 47% | 35% |
| Millennials | 45% | 38% |
| Silent Technology | 44% | 37% |
| Gen Z | 38% | 48% |
Supply: 2026 TIAA Institute-GFLEC Private Finance Index.
Virtually half of Gen Z respondents answered two or fewer questions appropriately. Monetary choices made at that age, underneath weak data, form the financial savings path for many years.
Child boomers lead each technology, however 27% of them nonetheless answered two or fewer appropriately. A long time with a 401(ok) and a mortgage construct actual data. They don’t shut each hole.
Males averaged 49% on the P-Fin 8. Girls averaged 42%. That seven-point distinction held throughout all generations.
Should you’re serving to grownup kids navigate these subjects, insurance coverage literacy is the place the age hole runs widest. Beginning these conversations now can shut a few of that distance.
The Weakest Quiz Domains Additionally Carry the Greatest Retirement Stakes
Each area the P-Fin 8 covers connects to a choice you’ll face earlier than or in retirement. Getting insurance coverage fallacious prices cash in the intervening time you’ll be able to least afford to repair it. Misreading danger or inflation tends to compound the issue over time.
Insurance coverage and danger comprehension rating the bottom on the P-Fin 8. They’re additionally the place retirement decisions carry the least margin for error. Social Safety timing, Medicare enrollment home windows, and portfolio withdrawal sequencing are all in that territory.
A retirement plan doesn’t require good scores. The Boldin Planner enables you to mannequin your particular numbers and check choices earlier than they’re everlasting. Data gaps price much less when there’s a construction for catching them.