Generations X & Y Lack Investing Direction

September 25, 2014

retirement, 401k, investing

Daniel Andrus

collegelazypoolmi-resize-600x338.jpgAdvisors who have focused their efforts on boomers’ retirement needs should make sure they’re not neglecting Generations X and Y. A survey conducted by Greenwald & Associates and sponsored by Security Benefit, a Topeka, Kansas-based insurer, found younger investors lack direction and could benefit from an advisor’s guidance.

The “Gen XY Financial Maturity Study,” released Monday, found two-thirds of Gen X and Y investors haven’t calculated how much they need to save for retirement. Furthermore, 65% say it’s harder for them to save than it was for boomers and older generations.

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Financial Wellness Crucial for Company Performance

September 24, 2014

Financial Wellness

Brent Harrison

FinFit_Final_Logo_jpg.jpgNot everyone is an expert in finance, understandably, but that does not mean your agency cannot gain access to education or the tools to assess and maintain control of their financial profile.

FinFit is an innovative solution to personal finances that is dedicated to providing innovative and comprehensive financial wellness solutions to America’s workforce, at little or no risk to employers.

“FinFit empowers employees with assessment tools, guidance and education to help implement and maintain financial fitness for them,” explained Jennifer Creech, Director of Business Development at FinFit. “We have a two-prong program. We also equip employees with an alternative to high cost credit, all while educating them to live within their means. In essence, we have all of the education that goes along with the solution.”

Additionally, the program provides training and relevant resources to ensure members reach and sustain a sound and secure financial future.

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Financial Health a Missing Wellness Piece

September 19, 2014

health, Financial Wellness

Mark Roberts

33214038_m.jpgMost everyone knows what wellness programs are designed to do for the body — help you get and stay more physically fit and be more proactive for your personal health. But what about your company and your employees’ financial well-being? Do your employees suffer from the financial flu?

A new survey from Consumer Affairs says money worries have become a significant distraction for employees during working hours. Not Facebook, not chain emails, not weight loss — worries about money. Although many U.S. businesses have recovered from the Great Recession, many of the people who work at those businesses haven’t. The Society for Human Resource Management says those worries are now a huge drain on employee productivity. Here’s what the 2014 SHRM survey Financial Wellness in the Workplace found:

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Employer-Offered Financial Literacy Could Increase Productivity

September 19, 2014

financial education

Nick Otto

fin1-300x168.jpgOffering financial education can provide a big boost to employee productivity, allowing employees to solve financial dilemmas and refocus on work.

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“Many employers offer some sort of retirement savings account, but don't go the extra step in providing education and alternatives to borrowing against a 401(k) in times of need,” says Jennifer Creech, director of FinFit — a financial wellness and benefits company.

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Financial Wellness Increases Savings & Preserve Retirement Accounts

FinFitLogo-300x127.pngVIRGINIA BEACH, Va., Sept. 16, 2014 /PRNewswire/ -- A new survey assessing financial wellness programs in the workplace reveals that the combination of financial education with employee lending solutions significantly increases employees' ability to save money and reduces instances of borrowing from 401(k) retirement accounts when faced with financial emergencies. The survey also shows that employees taking advantage of these programs are more focused and productive on the job.

Commissioned by FinFit LLC, a financial wellness and benefits company, the survey asked employers and employees for feedback on their experience using the programs. Nearly 1,000 individuals participated, with companies ranging in size, from approximately 150 to 2,000 employees, and operating across a broad spectrum of industries, including healthcare, manufacturing, education, and automotive.

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Waging War on Workplace Stress and Employee Distractions


FinFitLogo-300x127.pngEmployer-sponsored health and physical wellness programs have become customary across the U.S. over the past half century. Few corporate managers today question the resulting benefits of decreased employee absenteeism and lower worker compensation costs, as well as the health plans’ value as a recruitment tool to attract and keep quality talent.

Now, more and more savvy business owners are adopting financial wellness programs in the workplace as well. This is largely due to the direct correlation between an employee’s personal finances and their work performance, health, productivity and overall job satisfaction.

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5 Ways Financial Stress is Hurting American Employers


Copyright: ndphoto / 123RF Stock Photo

Article from Employee Benefit News

More than half of Americans are worried that they will not have enough money when they retire, while others are living paycheck-to-paycheck. Without a focused workforce, employee productivity takes a nosedive and absenteeism increases, according to a new FinFit survey. And the epidemic is not going away anytime soon, signaling a red flag for employers to embrace financial wellness solutions. Here are five indicators on how bad it has become and where to begin.

1. Economic problems hurt employees.

According to FinFit, a financial wellness solutions provider, 71% of the more than 250 business owners surveyed say the difficult economy is forcing their employees to live paycheck-to-paycheck.

"Employers at our customer companies are increasingly faced with situations involving employees in need of financial help in between pay periods," says Jennifer Creech, director of business development at FinFit.

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