As 401(k) Use Grows, So Do the Loans Against Them
Loans taken from 401(k)s are a big problem for your company and your workers, but they're just a symptom of a deeper issue in the lives of your employees.
Continue ReadingIn three easy steps, get a comprehensive breakdown of your company's financial wellness.
Enter your company name below to get a full assessment of your retirement health.
To achieve financial wellness, your people need help in four key areas.
Budgeting is telling your money where to go instead of wondering where it went. The problem is that for most people it feels like a chore. You must teach them the why and make budgeting simple, easy, and fun.
70% of Americans live paycheck to paycheck. With no margin, every unplanned expense becomes a crisis. If your people have emergency savings, they will feel (and actually be!) more secure financially.
With 24% of take-home pay going to consumer debt, it's no wonder your people are off track. If they can free up those funds, just think about how much more they could invest in retirement.
Most people don't save for retirement until it's too late. Those who do are not investing nearly enough. You must inspire them to change their habits and invest 15%.
Ask yourself these questions to get a quick pulse on your program.
How many employees know what their retirement number is, and how many are saving enough to hit it?
What are my financial wellness goals, and do I have the right program to achieve those goals?
How many employees have healthy money habits for budgeting, saving, and eliminating debt?
Make the case for financial wellness in your company! Enter your company name to get a full retirement health assessment.
Loans taken from 401(k)s are a big problem for your company and your workers, but they're just a symptom of a deeper issue in the lives of your employees.
Continue ReadingWhile some of grandma's sayings may have inspired you, they're not always good suggestions for handling money! Here are a few of grandma's old adages that could break your bank.
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