Importance of Supporting Financial Literacy Efforts
With financial literacy month set to kick off April 1, the importance of financial education cannot be overstated. A strong financial education forms the foundation for a lifetime of financial certainty.
Supporting efforts to improve financial literacy and education is especially important now, since financial literacy rates in the United States have been declining since 2009. This is troublesome, as people with lower financial literacy are less likely to have planned for their retirement savings needs (29% vs. 52%) or to have opened a retirement account (43% vs. 70%). Already, more than one-in-four American workers have not saved anything for retirement.
Through charitable grants, sponsorships and associate volunteer activities, Jackson invests in financial literacy and coaching programs in our local communities. We have a long-standing commitment to support and strengthen financial education, including our involvement with Junior Achievement USA (JA) and its local chapters.
JA reaches more than 3.3 million students per year across the country. Its programs place volunteers in classrooms with curriculum that empowers young people to plan for their future and make smart academic and financial choices that will lead to economic success. JA alums are more likely to earn a college degree, feel confident about managing money, experience career success and have started a business as an adult.
Jackson has long been an avid supporter of JA. In 2017 and 2018, we were honored to invest over one million dollars to redevelop JA’s “Our City” curriculum, which is taught to third graders across the country. We also provide financial support and associate volunteerism to our local JA chapters in Mid-Michigan and Middle Tennessee, including a capital investment to create JA Finance Park at the latter. Additionally, we sponsor the ACLI Capital Challenge road race, a Washington D.C. tradition for more than 40 years, which benefits JA’s financial education programs.
Jackson is committed to helping more people understand the importance of saving early and preparing for retirement, and we are honored to support JA in its efforts to help students understand the significance of saving and enhance the financial security of millions of American students.
Jackson® is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company® (Home Office: Lansing, Michigan), and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York).
