Financial wellness
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Workers want help making these financial decisions
Decision-making fatigue—just another unexpected side effect of the pandemic. With so much uncertainty, it’s no wonder that 82% of our retirement plan participants say they’d like to be more confident making financial decisions. And they’ve told us the types of help they need.
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Not what we expected—a chance to help reduce financial stress
As we start the new year, I can’t help but think that 2021 wasn’t what we expected—and I have to wonder what 2022 has in store for us. We recently took a look at stress, finances, and well-being in our eighth annual survey, and it seems that our retirement plan participants are feeling the same way: The pandemic has had a complicated effect on American workers and their finances. But one finding is loud and clear—people want help making financial decisions, and they want help from their employers, financial professionals, and their retirement plan providers.
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How financial professionals can help reduce financial stress
Our annual financial stress survey shows that retirement plan participants who work with a financial professional are less burdened by financial worries and more likely to have a plan for retirement. When you take steps to alleviate your employees’ financial stress, you’re not only helping them make progress toward better financial health, you’re also boosting your business’s bottom line.
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Six ways to help reduce financial stress
Economic conditions change, but the basics of financial health do not. Use these strategies with your retirement plan participants to help them reduce their financial stress while they save for retirement.
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Financial wellness programs can help increase employee loyalty and reduce stress
Even before 2020 became a four-letter word, financial stress was on the rise among Americans—and the pandemic has made it worse. In our latest financial stress survey, we learned how employees feel about financial programs and the types of help they’d like from their employers.
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Lowering the cost of financial stress to employers and its impact on workers
For seven years, we’ve surveyed our participants to learn about their financial stressors. During the pandemic, they're looking for help finding their resiliency, both financial and emotional, so that when normal returns, they’re ready to move forward.
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Financial stress during the pandemic—yes, it’s gone up
For seven years, we’ve tracked the financial stress of our retirement plan participants, recognizing the impact that overall finances have on retirement savings. The COVID-19 pandemic is now changing our lives and stressing personal finances in ways we haven’t seen before.
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Myth versus reality—what’s the real story on HSAs?
Health savings accounts can be a great way to save for healthcare costs—tax free.
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The what, why, and how of financial wellness programs
Employer adoption of financial wellness programs has doubled in five years. But do they work? And how do you implement one?
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The top causes of personal financial stress—they're not what you expect
Whether they consider their financial situation poor or excellent, Americans are financially stressed. Retirement plan sponsors and their business partners need to understand the top causes of that stress in order to put together an education or engagement strategy that helps participants take a step closer to financial wellness and retirement readiness.
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