Personal finance.

Although significant amounts of research and public policy have been directed toward financial literacy in recent years, not nearly as much attention has been placed on the type of information needed by the nearly 10,000 Baby Boomers reaching age 65 each day until 2030. As such, it would be wise not to lose focus on an important literacy measurement: retirement income planning knowledge. The reality is that retirement income planning is challenging, as it requires knowledge across a broad array of legal, financial, and social topics. To make informed retirement income planning decisions, retirees will require an appropriate level of retirement income planning knowledge. This article discusses the findings of The American College RICP® Retirement Income Literacy Survey, which was used to gather information about the retirement income planning knowledge of those individuals just entering retirement and those individuals about to retire. Additionally, this article presents the top distinguisher questions that can be used by retirement advisors to gauge the retirement income knowledge of their clients.