Retirement is a period of life that’s apt to cost money. It may not cost quite as much money as your working years, but seniors still have bills to pay. And they need money to pay them.
Unfortunately, 33% of Americans are making no effort to build a nest egg for retirement, according to KeyBank’s
Trying to make ends meet, dealing with credit card and student loan debt and paying unexpected bills while saving for retirement can be challenging regardless of where you are in life.
It’s not surprising that personal finances are employees’ number one source of stress, according to MetLife’s 17th annual U.S. Employee Benefit Trends Study. Luckily, there
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
We hear a lot about the retirement crisis in America. With a decline in pension availability and concerns about the long-term viability of Social Security, the burden of saving for retirement rests squarely on the shoulders of individuals. According to EBRI, only 17 percent of American workers are very confident they will have enough for
Reforms should be better communicated to workers in efforts to combat behavioral biases and inadequate financial knowledge that undermines participants’ retirement decisions, the Organization for Economic Cooperation said in its latest pensions outlook report.
The OECD called on combining funded and pay-as-you-go retirement plans, automatic mechanisms and a strong safety net for pensioners
Even if you plan well for retirement and have a reasonable amount saved, you can still end up in financial trouble during your golden years. There are lots of money traps that even reasonably prepared seniors can fall into if they’re not well-versed in the unique details of retirement-stage personal finance — and the
Of all the topics that can cause marital flashpoints, money is near the top. Forget sleeping with the window open or closed — the biggest fights are likelier to spring up when someone blows the budget or hidden debt comes to light. For more than half the couples surveyed by Fidelity in their report,
More workers are making good use of their employer’s financial wellness program, returning again and again and reaping more benefits as a result, according to Financial Finesse’s Financial Wellness Think Tank’s 2017 Year in Review.
Among employers that have offered a financial wellness program for at least three years, repeat users made
More than two-fifths (45%) of UK-based employee respondents have not made any financial calculations to understand their retirement needs, according to research by Mercer.
Its Healthy, wealthy and work-wise report, which surveyed 7,000 adults and 600 senior decision makers from private and public sector organisations based across 12 countries in seven regions, also found that
Almost half (49 per cent) of U.S. employers are concerned that employees delaying their retirements will increase benefits costs, according to a new survey by Willis Towers Watson.
The survey, based on responses from almost 150 large employers in the United States, also found 41 per cent of respondents are concerned that delayed retirement will increase salary costs and 37 per cent said
The tax reform debate has dominated Washington’s attention recently, but policymakers must not overlook commonsense opportunities to achieve the economic growth everyday Americans need. Outside the Beltway and across the country, families are sitting around the kitchen table with their financial stresses in tow, from how to afford next year’s college tuition payment to whether
We have all heard of big data, which the defined contribution industry has not leveraged sufficiently and has gotten a black eye for it. At a recent industry conference, I heard Tina Wilson, senior vice president at MassMutual, mention a new concept that may have far reaching implications for the 401(k) industry: smart data.
Today, the
Have you ever thought about the single, biggest obstacle to the success of plan participants in meeting their financial and retirement goals? The best strategies take advantage of opportunities while overcoming obstacles. You can have the best-laid retirement plan, but employees won’t be able to fully utilize it and become engaged unless you address the
ELLSWORTH, Maine — Richard Dever had swabbed the campground shower stalls and emptied 20 garbage cans, and now he climbed slowly onto a John Deere mower to cut a couple acres of grass. “I’m going to work until I die, if I can, because I need the money,” said Dever, 74, who drove
More than half (71%) of middle-income Hispanics feel they are behind on preparing for retirement as opposed to 63% of the general population, according to a recent study commissioned by Massachusetts Mutual Life Insurance Company. However, the survey also found that 63% of Latinos wish their employers would provide a greater degree of education
Sad, but not surprising. Only six percent of Americans could pass a quiz about a broad range of financial decisions they’ll most likely need to make. This despite the fact that nearly half of Americans feel more financially secure today than five years ago, according to a new survey from Financial Engines, the robo advisor founded
With millions of Americans being underfunded for retirement, many employers are increasingly taking an active role to help their employees get on track to reach their long-term financial goals.
Employers are becoming increasingly concerned about the financial well-being of their employees, and they are expanding how they demonstrate their loyalty. Employers large and small are offering
Job openings in the U.S. reached a record high in June. While this is good news for employees searching for new jobs, it’s bad news for companies. Hiring has been difficult and more competitive for companies in recent months. The current unemployment rate is 3.7%, and for decades wages have been nearly flat