While 68% of workers and 74% of retirees are confident they will have enough money to live comfortably throughout retirement, this is not a significant increase from last year, according to a Employee Benefit Research Institute report.
Informing workers about retirement savings options and encouraging the use of retirement advisors can go a long way toward helping employees be in a better financial position for retirement, according to a new survey.
Despite an uncertain economic environment, retirement plan participant outcomes thrived in 2023, bolstered by strong growth in employee contributions, according to a preview of Vanguard's annual "How America Saves" report.
Employers can help employees save by automating and incentivizing emergency savings, but it's key to customize messaging that is unique to a specific employee demographic to increase the likelihood of them taking action.
Against this retirement planning backdrop, however, employees are saving less for retirement, with the average amount now saved at $88,400 - a decrease of $10,000 from 2021, according to a Northwestern Mutual study.
Women report feeling knowledgeable about day-to-day finances such as paying bills and saving for emergencies, but less confident about building wealth and creating investment portfolios, a New York Life Wealth Watch survey found.
Younger generations are adding a side hustle or second job at a heightened rate and more than half of adults expect inflation to increase this year, according to a new Northwestern Mutual study.
People of color are contributing to retirement accounts at lower rates and are more likely to take early withdrawals, which is why employers need to explore how best to reach these employees, says a new study.
Novo Nordisk's list price for a monthly package of Ozempic is $935.77 before insurance and other rebates, yet it can be manufactured for between $0.89 to $4.73 a month, according to researchers at Yale University.
Nine out of 10 women said they would be at least somewhat likely to roll over their money into an in-plan protected retirement solution if it was offered to them, according to a new Nationwide Retirement Institute study.
