How financially illiterate are Americans? (opens in new tab)

A article in the NYTs says “Many people are not aware IRAs exist.” Can that be true? I bet it is. One survey reports the median worker has only $955 saved for retirement. Another says 1 in 5 Americans over 50 has no retirement savings.Some people push for a national IRA with auto enrollment because people don’t have access at work. I find that curious because as you know there are individual IRAs, ROTH IRAs, SEP IRAs (Simplified Employee Pension), Solo 401(k) and a Simple IRA. Of course there...