SAN FRANCISCO, Nov. 19, 2020 (GLOBE NEWSWIRE) — Human Interest, the affordable, full-service 401(k) provider for small and medium-sized businesses (SMBs), has released data that sheds light on how Americans currently feel about their financial wellness. The study of small business employees reveals that, despite a global pandemic and recession, a surprising 64 percent of respondents rate their financial wellness from ‘good’ to ‘excellent’. But their confidence may be misplaced, as the study shows a lack of certainty about their future financial security. Only 22 percent believe they’ll actually have enough money to last the rest of their life or to cover their needs in retirement.
According to the data, employees consider financial wellness to mean not feeling stressed about money, not living paycheck to paycheck, and having an emergency fund. While these are important aspects of financial health, they do not guarantee fiscal security through life. In fact, traditional hallmarks of financial wellness, such as having enough money to last through retirement, or having a high net income, net worth or credit score, featured far lower down the list of priorities. Read more…..
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6 million Americans are without a job right now, and that’s just in the U.S. alone. It’s a terrible situation, one that I’m all too familiar with myself having gotten laid off during the recession in 2008. These are tough times, but there are opportunities within them, too.