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As the New Year approaches, it's the perfect time for employers to encourage workers who aren’t participating in their company retirement plan to consider easy, actionable financial resolutions that can help them reach their retirement goals and avoid common regrets.
Nationwide’s 2024 Protected Retirement Survey shares key lessons learned by employees nearing retirement, offering valuable insights for those looking to make smarter financial choices in the year ahead:
- 82% of employees over 45 wish they had taken retirement saving more seriously in their younger years.
- 76% wish they had started saving earlier, and 56% identified having an emergency fund as a top priority.
- 82% wish they had understood the importance of compounding interest sooner.
“New Year’s resolutions often fall by the wayside when they feel too overwhelming, but financial resolutions don’t have to be overly ambitious to make a difference,” said Suzanne Ricklin, Vice President of Retirement Solutions at Nationwide Financial. “Starting small—like increasing retirement contributions by just a percent or setting aside a little more in savings each month—can lead to meaningful progress over time. These small financial changes are easier to stick with and thanks to the power of compounding interest, even small steps can have a significant impact on your future.”
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