Viewpoints about Financial stress
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How to manage your 529 savings during economic downturns
While volatility in the stock market is par for the course, it’s important to not react quickly out of fear; however, sometimes making a few adjustments to a 529 plan account can help you save more in the long run. Here are four steps to consider.
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Why estate planning is important for everyone
Many people think estate planning is either just for wealthy people or it’s too upsetting. But just about everyone has something that will need to be passed on to someone. It can also help you gain peace of mind knowing you’ve helped protect your loved ones.
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Financial stress can have an impact on mental health
Employers that focus on their employees’ mental health in May—or any month—should consider including financial well-being in their overall wellness activities.
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Financing longevity: how saving for retirement has gotten harder
Increasing longevity has more people over age 50 reaching out for help than ever.¹ Financial professionals should be prepared to help preretirees plan economic uncertainty into their retirement saving and investment strategies.
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Blueprint for paying down your debt
If managing your debt feels overwhelming at times, you’re not alone—87% of people with major debt say managing their finances is a cause of stress. But there are steps you can take to improve your situation before turning to a formal debt relief program for help.
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Advisors can help reduce financial stress amid uncertainty
The pandemic has brought more than its share of financial uncertainty. Our recent study of stress, finances, and well-being shows an increase in people turning to financial advisors for help and how doing so can help improve their overall finances and help them mitigate financial stress.
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Another rising cost for employers: financial stress
Workers are stressed about a lot of things, including their finances. We’ve identified the cost of that stress and how you can help your workers manage it and improve their financial well-being.
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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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Three strategies for managing your debt
Most people have debt of some kind—a mortgage, student loan, or credit card balance. Learning the difference between good and bad debt and how you can manage them can help you reduce your stress and improve your credit score.
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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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