Financial wellness

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Retirement ABCs: How employers can help baby boomers prepare

Seventy-four million: That’s the estimated number of baby boomers, according to the U.S. Census Bureau. And 66% of baby boomers are working past traditional retirement ages for a variety of reasons. Some feel they can’t afford to retire, particularly with the looming high costs of healthcare; others may choose to work longer to keep their

How to improve your financial wellness strategy

You could consider financial wellness to be the most important employee benefit around. However, whilst helping your employees understand and improve upon their personal financial situation is an honourable diversion, if employers don’t approach the situation with tact they could miss the mark entirely. And, despite the fact that financial woes weigh heavy on the

Financial wellness in the age of anxiety

One of the hottest topics in corporate boardrooms and among HR professionals these days is financial wellness. There is now a wealth of evidence that employees who feel financially secure are more engaged and productive. The opposite is also true – financially stressed workers are much more likely to take days off and be distracted and unproductive

5 ways millennial employees can secure their financial wellness and get back to work

Financial stress is a major concern for today’s millennials who are facing unprecedented financial challenges. According to a 2017 PWC Employee Financial Wellness Survey, 65% of millennials reported being stressed about their finances. Additionally, approximately one-third of employees reported being distracted by personal finance issues while at work, with almost half of them spending three hours or

The Best Employee Benefit You May Not Have Heard Of

Would you like to be on track for retirement, invest with confidence, pay down debt or student loans and reduce your financial stress by half? Of course, you would! You’re probably thinking it takes a fairy godmother, a unexpected inheritance, or a lottery win to make it happen – but you’d be wrong. The secret

Financially stressed workers likely to draw on retirement plans

Financial stress is taking its toll on employees, causing them to partake in rather risky money behavior: tapping into their 401(k) or other retirement savings in an attempt to get back on track. More than half of workers (54%) who identify as being financially stressed say they will likely use their retirement funds for expenses

Fewer Americans Delaying Major Life Events Because of Money Worries

The recent recession caused Americans to face some hard economic realities. As the economy continues to recover, more Americans are taking their lives off hold as fewer are being forced to delay going to college, getting married or having kids because of financial concerns. A new survey found that the number of American adults that

Delivering meaningful financial wellness to employees

Employees want to improve their financial literacy and reduce the stress that they experience due to personal financial issues. Employers know that they have the ability to offer financial wellness programs and that these programs will provide multiple benefits to workers and the corporation alike. Agreeing on these facts could lead to the conclusion that

More Buzz Than Action With Financial Wellness?

When I talk to employers about financial wellness, heads nod in unison and there is agreement on the fundamental concepts. Employees with less financial stress are healthier, more productive, stay longer and cost the company less money. So where does the conversation break down between we all agree this is a great idea and getting a

New report details experiences of graduates with student loan debt during the Great Recession

 A new report prepared by RTI International for the National Center for Education Statistics provides important insights about rising student debt and its consequences for students who graduated from college during the Great Recession. The study details a variety of post-college outcomes for students who graduated with a bachelor’s degree in 2007-08, reflecting graduates’ perceptions

2018-05-02T16:57:06+00:00 Tags: |

5 ways employers can help improve employees’ financial literacy and wellness

How do interest rates work? What is the best way to get a handle on paying off debt? What are the basic principles of long-term investing in stocks and bonds? If your employees are unsure of how best to answer questions like these, they’re not alone, according to a study by the FINRA Foundation. In fact, the

The Stubborn Wealth Gap Between Men and Women

The #MeToo movement has shed light on the gender gaps that exist in wages and representation in executive suites across industries. But there’s another, even larger gender gap that doesn’t get as much attention: the wealth gap, according to a new report by Bank of America Merrill Lynch and Age Wave, a consulting firm focused

Moving from the idea of financial wellness into a plan of action

Financial wellness is a hot topic but employers and plan sponsors need do more than have a conversation. They have to realize that a worker with serious financial problems is not as productive as they should be and may not retire on time. Plus, moving from just talking about employees’ financial worries and creating a

Tax time: 5 smart and dumb things to do with your refund

For many people, tax season can feel a lot like Christmas morning. With more than 70% of U.S. taxpayers expecting to receive some sort of refund this year, according to IRS, that means Americans have essentially three choices to make with the extra cash on hand: save it, spend it or pay down debt. Chris Whitlow, CEO of Edukate, a workplace

Finances matter even in early relationships

Researchers set out to see how financial socialization from three different sources affects life outcomes and well-being in young adults. The three sources they looked at were the young adults' parents, the young adults' romantic partner and the young adults themselves. According to the findings, young adults' own financial behaviors, unsurprisingly, had the most impact

2018-04-04T08:29:11+00:00 Tags: |

Top 6 Apps to Spring Clean Your Finances

Everyone who's into managing his or her personal finances with the help of an app has heard about Mint, which currently ranks No. 24 among all free apps in the Finance category that can be downloaded from the Apple iOS Store.  To offer you a couple of alternatives, I would like to introduce you to other

“Financial Health” is good medicine in mental health care

Spend an afternoon doing mental health research with Annie Harper, PhD and you might find yourself checking out the prices at a local rent-to-own store, helping a client pull his credit report, or listening as Harper speaks on the phone, convincing a student loan collection agency to restructure someone’s debt. “Some of the things we

Well-Being in Communities Across the U.S. Is Flat or Declining in All 50 States

When it comes to health, happiness, and well-being, American communities did not fare well in 2016 and 2017 compared with previous years. Those were the top findings from Gallup’s and Sharecare’s State of American Well-Being 2017 Community Well-Being Rankings, which were released today. The report is part of the annual Gallup-Sharecare Well-Being Index series that measures and tracks wellness

Guess What’s Taking a Toll on Financial Wellness?

Employers are taking steps to improve the financial well-being of their workforces – but there’s evidence that some of their efforts could actually be creating more financial stress for workers. A new report from the nonpartisan Employee Benefit Research Institute (EBRI) notes that move toward consumer-driven health plans (CDHPs) and high-deductible health plans (HDHPs) may be