Workers Focusing on Long-Term Financial Planning

Financial Finesse analyzed calls made to its Helpline service and found that in 2010, 24% of calls were related to retirement planning, compared to 15% in 2009. Estate planning, education planning, insurance, and investing related calls also increased from a combined 20% in 2009 to 25% in 2010.  

On the other hand, debt management related calls dropped from 21% to 16%, while cash management related calls dropped from 23% to 17%.  

In total, the study found 55% of calls in 2010 were related to long-term financial planning issues.  

The research found that employees feel they have a handle on their short-term financial issues now, but only 17% feel on track with their retirement savings.   

Sixty-four percent of employees reported they have a handle on cash flow, and 51% said they now pay off credit card balances in full. Forty-eight percent of employees reported they have an emergency fund, and 82% said they pay their bills on time each month.  

Employees ranked retirement planning as their top financial planning priority in 2010, followed by money management and debt management.