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Two new reports show Australia lags other developed countries on financial literacy, with systemic issues making the gap between men and women even starker. These deficits translate to worse retirement outcomes, as the financially less literate can miss out on thousands of dollars in income each year.
Much of what keeps Australian investors up at night – and the biggest investment mistakes they make – could be avoided through a greater focus on financial literacy, especially as markets “start acting like markets again”, the private wealth manager’s directors Jamie Nemtsas and Drew Meredith said.