Financial Wellness

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Three strategies to boost financial wellness in your workplace

A company retirement plan used to be an optional benefit for employees. But it turns out that investing in your workers’ financial future can have a direct impact on your bottom line. Today, 53 percent of Americans are stressed about their finances, according to PwC’s 2017 Employee Financial Wellness Survey. And nearly half of those

Solving “more month than money” puzzle

Microeconomics and innovative technologies are redefining the U.S. workplace and workforce. Yet according to a recent PwC study, about 70% of households still live paycheck to paycheck—with financial disaster just one broken air conditioner or hospital visit away. It’s not surprising that a March 2017 MetLife survey found 49% of employees are stressed and anxious

Retirement, deferred: Workers — and companies — grapple with a new reality

Life after 65 is starting to look a lot more like life at … 64. The percentage of Americans working past the traditional retirement age hit new highs in the most recent jobs numbers, according to recent reports, with 19 percent of those 65 and older working at least part-time. And it's only expected to increase: The over-65 set is

We’ll Live to 100: Confronting the ‘Savings Gap’

A few generations ago, the average global life expectancy at birth was only 34 years. Today, thanks to falling poverty rates and expanding global wealth, the average life expectancy has more than doubled to 71—meaning roughly half of the babies born in the developed world in 2017 are expected to live past 100. That individuals

Companies offer “financial wellness” programs as a job perk

An increasing number of companies have started offering free programs to teach employees how to manage their own money. At a Waffle House south of Atlanta, Ashly Johnson stacks clean plates above a metal grill after the morning rush to start preparing for lunch hour.  Johnson, 28, recently finished a manager training program with Waffle

How Student Loan Debt And Defaults Differ Across Red And Blue States

During the 2016 election cycle, it seemed like everyone was talking about student loans and college affordability. That's not surprising since the student loan crisis is affecting so many Americans. Currently, around 44 million Americans owe about $1.3 trillion in student loan debt, with the average borrower graduating with more than $28,000 in debt. We we were

Why Build Financially Inclusive Economies?

The lack of access to even the most basic financial services makes it difficult for an estimated two billion people to save money and effectively participate in the global economy. When G20 leaders meet in Germany this week, digital financial inclusion must remain at the top of the agenda. The theme of this week’s G20

Employers spend $742 per employee for wellness program incentives

Wellness programs are popular with employers but employees continue to need motivation to participate. Seventy percent of employers are investing in wellness programs, while 73% of employees say they are interested in wellness programs, but 64% of employees undervalue the financial incentives to join the wellness programs, according to UnitedHealthcare’s Consumer Sentiment Survey entitled “Wellness

Begin Teaching Kids Money Management Skills Early

A part-time summer job can teach teens the value of earning a paycheck, but not necessarily how to manage their money wisely. That's a job parents should take on, and the earlier the better, experts say. Teaching teens the basics of saving, following a budget and the principles behind responsibly managing checking and credit accounts

Feel your job is useless? Time to rethink the meaning of work

A great deal has been written in recent years about the perils of automation. With predicted mass unemployment, declining wages, and increasing inequality, clearly we should all be afraid. By now it’s no longer just the Silicon Valley trend watchers and technoprophets who are apprehensive. In a study that has already racked up several hundred

2017-07-03T08:04:16+00:00 Tags: , , |

Americans Get an ‘F’ on Retirement Planning

When it comes to Retirement 101, Americans are getting an “F.” According to a study by The American College of Financial Services, three in four retirement-aged adults failed a quiz on ways to make their nest eggs last through retirement. Moreover, older Americans between the ages of 60 and 75 have trouble comprehending vital financial

2017-06-28T15:33:49+00:00 Tags: , |

1 in 3 workers say their personal finances are distracting at work

Financial woes plague 85% of workers, a good reason for employers to sponsor financial well-being plans. In a paper released by the Center for Financial Services Innovation (CFSI), statistics show that 85% of Americans are anxious about their financial situation, and that their anxiety interferes with work. According to CFSI, financial stress leads to productivity

Financial literacy takeaways

Without an understanding of basic financial concepts, how do you expect to manage your money wisely? The answer is getting educated. Financial literacy is everything because it is one of the greatest challenges people have today. With student loan debt, predatory lenders and a lack of savings for emergency situations, today is the day to

74% of Seniors Failed a Basic Financial Literacy Quiz

A recent survey of over 1,300 Americans finds that almost 3 out of 4 people aged 60 to 75 failed to pass a quiz measuring financial literacy, and only 5% managed a grade of 80% or better. The poor performance suggests many Americans aren't making the most of their money in retirement. Retirement dreams rarely

2017-06-15T17:27:36+00:00 Tags: , |

Talking about financial literacy is more than just an ‘adult’ matter

Money should not be a taboo topic within your family. On the contrary, it is probably wise if you have an open communication with your loved ones, including your children. When we were younger, many of us often received the advice “If you study hard, attend college and get a job, you should get a decent

Leading the financial literacy push

If Angel Rich has her way, learning how to build a solid credit score and save for retirement would be as easy as posting a selfie or sending a tweet.Almost five years after leaving an analyst job at Prudential Financial, Rich is making waves and wooing investors with Credit Stacker, a smartphone game that teaches financial

Retirement age of at least 70 urgently needed says report

The retirement age should be increased to at least 70 years by 2050, says a new report issued by the World Economic Forum, when a life expectancy of more than 100 years will be the norm in the United States, United Kingdom, Japan, and the other advanced economies. The World Economic Forum’s new study –

Retirement savings: The world is sitting on a $400 trillion financial time bomb

Financial disaster is looming, and not because of the stock market or subprime loans. The coming crisis is more insidious, structural, and almost certain to blow up eventually. The World Economic Forum (WEF) predicts that by 2050 the world will face a $400 trillion shortfall (pdf) in retirement savings. (Yes, that’s trillion, with a “T”.)

2017-06-03T04:41:44+00:00 Tags: |

The Global Search for Education: Is Your 15-Year-Old Financially Literate?

“The more that financial education initiatives are developed, both in and outside of school, the more important it is for governments and other stakeholders to evaluate and prioritize such initiatives and to scale and spread good practice.” — Andreas Schleicher To thrive in today’s innovation-driven economy, students need a different mix of skills than in