: ‘Don’t wait to plan even for a day.’ 5 tips to help you retire better.

A lack of financial literacy cost the average American $1,819 in 2022—the highest amount since the National Financial Educators Council started keeping track of financial literacy statistics.

“Parents assume kids are being taught a lot of this in school. Schools assume the parents are teaching this at home. There are a lot of gaps,” Ross Hamilton, vice president of wealth management at Raymond James & Associates in Bethesda, Md. “Our young clients says ‘why didn’t anybody teach me this in school?’”

Many…