Retirement savings

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Do employer-sponsored financial wellness programs actually have long-term impact?

According to a 2018 study by Northwestern Mutual, 21 percent of Americans have no retirement savings and an additional 10 percent have less than $5,000 in savings. A third of Baby Boomers currently at, or approaching, retirement age have between zero and $25,000 set aside. The Economic Policy Institute (EPI) paints an even bleaker picture, reporting that “nearly half of

Few Americans Are Ready for Retirement: Can Financial Wellness Programs Help?

Notwithstanding a strong U.S. economy, only one in four Americans say they feel financially prepared for retirement, according to a report just issued by the Certified Financial Planner Board of Standards: Close to 80% of participants surveyed say they are not reassured that they have the best retirement savings strategies available to them; the CFP

Emergency Savings Accounts Have The Power To Avoid Life-Changing Financial Disruption

It’s no secret that Americans are worried about having enough money set aside for retirement, with the Federal Reserve reporting that less than 40 percent of non-retired adults believe they are “on track” with their retirement savings. At the same time, only about 60 percent of Americans have enough savings to cover a $400 emergency expense. Americans

How Your Kids Can Ruin Your Retirement — and How to Make Sure They Don’t

Bill Benson and his wife had planned to fortify their retirement savings once their children left home, so they’d have enough to travel and relax. But at 68, Benson is still working full-time, and that empty nest he envisioned isn’t so empty. Benson’s eldest daughter moved home with her two young sons after a divorce, and the

Health Care Costs Affecting Retirement Savings and Financial Wellness

Workers’ dissatisfaction with health insurance is focused primarily on cost: Just 22% are extremely or very satisfied with the cost of their health insurance plan, and only 21% are satisfied with the costs of health care services not covered by insurance, according to the EBRI/Greenwald & Associates Health and Workplace Benefits Survey. Approximately one-half of

Think Income Inequality Is Bad? Retirement Inequality May Be Worse.

For years, salon owner Luke Huffstutter, of Portland, Ore., wanted to offer his employees a way to save for retirement. Costs  were too steep for the small company, though, and few employees took the initiative to set up 401(k) plans on their own. But last summer, Oregon launched a retirement savings program that automatically enrolls

More Employees Turning to ESPPs to Acquire Company Stock

While employees continue to invest in their company’s stock, more are choosing to invest through an Employee Stock Purchase Plan (ESPP) instead of buying company stock through their 401(k), according to a recent analysis. Fidelity Investments found that the percentage of employees with company stock in their 401(k) has dropped by almost half, from 41% in 2005

Older Workers Not Saving Enough for a Secure Retirement

One-third of working Americans between the ages of 55 and 65 have no retirement savings, and they are at risk of declining living standards and even poverty within the next decade, according to a study published by the Schwartz Center for Economic Policy Analysis. The outlook for workers saving in defined contribution plans, defined benefit

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”.)

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