Addressing employees’ financial issues can help them free up cash to save for retirement, including long-term health care costs.
Tag: retirement savings
The women are also far more risk-averse, PNC Investments learned in a survey.
But, TD Ameritrade finds only 38% are saving for retirement.
Among those who have made an estimate, the median amount is $650,000, Bankrate.com learned in a survey.
If an additional major drop in the market were to cause an extreme monetary loss, 38% of respondents to an Allianz Life survey do not believe they could rebuild their retirement savings.
Six in ten (61%) survey respondents are simply not sure how long it might delay their ability to save for retirement should a large 6,000 point drop in the Dow occur.
A report from Hearts & Wallets also reveals the market for existing income management tools for new retirees is 3.5 million households.
Expenses are cited as the main reason why they are failing to save anything, Bankrate.com found in a survey
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.
Of all factors, salary was found more likely to encourage savings both an HSA and 401(k).
We recently covered a survey in which Americans reported an average bump in take home pay of $130.76 as a result of tax reform. Nearly 13% indicated they are going to use that money to save more for retirement.
It will only take a few pay cycles for folks to get used to seeing the extra money come in; thus the impetus is on plan sponsors to act today to directly encourage employees to consider putting some or all of their additional take-home pay into the retirement plan.
Many may need to set up an emergency fund or pay off debt first.
The number of 401(k) savers with at least $1 million in their 401(k) increased to 150,000 at the end of 2017, up from 93,000 a year ago.
Nearly six in ten believe saving for retirement is a basic necessity, like food or housing, a survey from Allianz Life found.
The majority of Gen Xers surveyed by T. Rowe Price reported they receive advice through their employer.
The campaign is aimed at educating policymakers and the American public about making saving easier for Americans of all ages, helping retirees transform their savings into a lifetime of income and saving the Social Security system.
The firm’s first white paper shows how effectively managing health conditions can save money for employees, and if that savings is invested in retirement plans, generate more income in retirement.
Among all respondents to a Fidelity Investments survey, 43% plan to increase their retirement savings by 1% or more of their salary next year.