According to a study cited by the Brookings Institution's Hamilton Project, "Only one-third of Americans age 25-34 and one-half of those age 55-64 can accurately answer questions about compound interest, inflation, and risk diversification."

To help improve financial awareness across generations, CalCPA Institute, along with the California Society of CPAs and the California Jump$tart Coalition is holding the California Financial Literacy Summit on July 30 at the San Jose Marriott. It will bring together experts and leaders from government, business, education and other fields who are concerned about financial illiteracy in the state.

The Summit will include sessions focusing on incorporating financial literacy programs into elementary, middle and high school curriculums, managing the college student debt crisis, training of financial literacy volunteers, and helping small businesses and entrepreneurs learn how to better handle their finances.

Among those scheduled as speakers are Betty Yee, California state controller; Assemblymember Kansen Chu; Dianna MacDonald, president-elect of the California State Teachers Assn.; and Pilar Diaz, senior institutional review specialist, U.S. Dept. of Education.

Registration for the Summit is free. For additional information head to CalCPA's site here.