TL;DR I would like to see this site start to become a better and more visible resource for people at the very beginning of the learning curve on financial literacy. Any ideas on how to achieve this?
I recently had an experience that gave me pause. I was going through a fast food drive through and the woman handling my order was asking some questions about my credit card, which is linked to a popular investment firm. I explained how the cash back rewards can be directed to things like an IRA with the investment firm. She did not know what an IRA was, and, unfortunately, the short time at a drive through window is not enough to educate someone on something so important. It would be useful though to be able to point someone like that to a "Quick Start Guide" to financial literacy.
I looked at our FAQ answer here on Meta (Frequently Answered Questions (by topic)), but even that makes assumptions about basic financial literacy. For example, we have a section for questions related to IRAs and 401(k)s but we don't have the most basic questions: what do you need to do to prepare for retirement, what are an IRA and a 401(k), and why should you care about them (if you are in the US of course)? We do have one question about what an IRA is on the SE site itself but it's asked in the context of whether it's appropriate for an Indian citizen, which would cause many (most?) to skip over it.
In short, I feel like we've gotten into a situation where there are no questions about these basics, which self reinforces: people don't find this SE site when searching for basic questions like "What is an IRA?" so they don't find it to ask the questions.
I'm also dissatisfied with the top resources on financial literacy (from a google search for "financial literacy guide"):
- https://www.investopedia.com/guide-to-financial-literacy-4800530 : Jumps straight from How to Create a Budget to How to Start Investing without any significant discussion of saving for retirement
- https://www.annuity.org/financial-literacy/ : Has minimal discussion of retirement saving before (predictably) stating that annuities are the answer
- https://www.financialliteracy101.org/financial-literacy/ : Starts good but then veers into Identity Theft while completely omitting retirement saving
- https://bethebudget.com/financial-literacy/ : Dives straight into calculating net worth and discussing types of debt and loan amortization
Although these two seem worthwhile (typical criticisms of DR aside):
Without resorting to product / service recommendations, how can we start building a worthwhile (and discoverable) body of questions and answers about the basics of financial literacy?