Not sure if 'intelligence' is the most apt word, but here goes...
I suppose if you're on this forum then your level of financial IQ would be somewhat higher than average, so I would like to ask, what is the level of financial IQ of people you know and meet?
I have a friend who told me he has his money in a CBA savings account earning him 4.5%. I told him Ubank offered 6.01%. He mumbled something about not being bothered to change, which kinda surprised me. I also explained to him how after inflation and tax, that he wasn't even getting 4.5% yet he didn't seem to understand it, and still thought he was getting a 4.5% return in real terms.
I also know of people who are somewhat aware of the state of the economy and the whole Greece debt crisis thing, yet when I asked why they didn't change their Super strategy to accomodate for this, they also said they couldn't be bothered.
Am I the only one who feels ?