“University of Michigan / Financial Literacy and Financial Sophistication Among Older Americans pdf” COMMENT: A few things from this study pop out. First, financial illiteracy is widespread. This does not bode well in an age of self-direct retirement. In the past two years more companies are auto-enrolling people in the 401k plan in order to receive the company match. While this does encourage saving and investment, it does not help with the financial literacy problem. Might some sort of minimum education material be required of 401k sponsors to assist in the education of those enrolled? Second, the avoidance of economic jargon suggests that plain language is the best way to educate an individual regarding financial matters. Finally, the simple structure of a question can help the respondent answer correctly and in their best self-interest. Clear, concise language void of jargon whenever possible will help to communicate complex matters to individuals and is a cornerstone to financial literacy.