If the topic of retirement planning is slightly grim, how can a plan sponsor help employees learn to save, and learn to talk to each other about saving? Vacation planning might be a gateway into learning important aspects of saving for retirement.
Is it possible for plan sponsors to encourage retirement readiness in their employees by capturing some of the excitement about Marie Kondo? You bet! The Frugality and Minimalism trends can help employees overcome old beliefs about savings.
Resilience has been a hot topic in parenting and work-life balance discussions lately and for good reason. Resilience helps employees face life stress without negative impact on productivity. Employees can be taught to build resilience and be more ready to face unexpected financial events without too heavy an impact on their retirement readiness.
Burnout leads to terrible decisions. As they burn the candle at both ends, employees may be making financial decisions that are equivalent to lighting piles of money on fire. How can plan sponsors help?
A new trend of working more than one job to cover rising health care costs or make up for stagnant wages has some employees nearing retirement asking how they should plan for retirement. Do they retire from everything?
Social media can be a great tool to tackle sticky subjects like debt and retirement readiness planning. It’s also fantastic for gathering resources and ideas from how other companies are educating their employees about financial matters. But it can also be full of pyramid schemes and false news.
It seems like every two years the news likes to take issue with 401ks, with articles like top 6 problems with 401(k) accounts. What are employees hearing about so called problems with 401(k)s and how can they respond?
In the past, doomsday scenarios or calling people out for behavior was thought to be a way to change their behavior. Fear based techniques have a short shelf life and shame is counterproductive. What works? Here are a few tips on using motivation to help employees invest.
The top reasons most folks give for failing to contribute to retirement savings are lack of time (to manage, analyze, or set up retirement plans) or inability to find a spare amount to set aside for savings. As the slogan goes, there’s an app for that.
Studies have shown that retirees report greater senses of happiness in retirement when they volunteer. Additionally, employees also report higher amounts of job satisfaction when they can participate in work place charity events –can an employer partner with groups and encourage a volunteer pipeline for retirees?
Aside from the physical abuse, much of elder abuse also involves control or diminution of resources. According to the AARP, 90% of those engaging in financial elder abuse are family members or are well known to the elder such as neighbors, friends or caregivers.
For 82 percent of workers surveyed, the overwhelming consensus is they’ll have a much harder time achieving financial security than their parents’ generation did. Your plan participants want to make the most of their retirement plan contributions. Here’s how you can help.