To help allay their fears, MetLife has issued the first of four white papers on financial wellness.
Tag: financial education
A research report says "financial education delivered to employees around the age of 40 will optimally enhance savings at retirement close to 10%. By contrast, programs that provide one-time education can generate short-term but few long-term effects.”
Nearly half would like a digital retirement coach, an Accenture survey found.
When American workers were asked how helpful further education would be to achieve their goals, a large majority expressed the need for additional financial education.
Cerulli Associates suggests that if retirement plan sponsors position managed accounts as a valued service it could alleviate concerns about costs.
Forty-three percent of Millennials say they need help managing saving for retirement, while 40% want help with good general savings habits.
This demographic is more apt to be behind in saving for retirement and worried about making ends meet, they report.
It seems that many adults are struggling with basic finances—budgeting, paying off debt and saving.
Seventy-nine percent of employees indicate they have experienced an increase in health care costs, and of those, 63% say they are reducing the amount they are saving for retirement, a survey finds.