Younger workers who came of age during the Great Recession are now making decisions that will have a lasting impact on their ability to generate wealth, including their ability to prepare for retirement, according to a new survey.
According to a new survey, 76% of employees say they understand the salient features of health savings accounts, or “HSAs,” yet only 12% could correctly identify the common attributes of an HSA in a simple quiz.
“This study shows that for financial firms who want to improve retirement savings outcomes must evolve their role from just account providers to trusted partners that people can turn to for help on holistic financial wellness,” NARPP says.
The majority believe they will have to work much longer than previous generations, Prudential learned in a survey
Some of today’s retirees are financially fragile, but most appear able to absorb financial shocks without incurring severe hardship; this may very well change in a DC plan-dominated future, CRR researchers warn.
Voya Financial says these new one-minute videos will combine an individual's "monthly income replacement goals, estimated monthly retirement income and possible shortfalls" to visualize their path towards retirement.