A Franklin Templeton survey found that while workers today place nearly equal importance on mental (81%), physical (80%) and financial (76%) health, they feel least in control of their financial health (55%) as compared to physical (62%) and mental (58%) health.
Retirement plan sponsors have to conquer a great number of fiduciary and plan design basics when setting up a plan, but they might not think about the many misconceptions that participants have about retirement plans and retirement saving—which could be an impediment.
It is no secret that financial stress has a significant impact on mental health, productivity, turnover and absenteeism in the workplace. By some estimates, pre-pandemic financial stress cost US businesses upwards of $500 billion per year. Lost productivity, turnover and other factors related to stress cost the average company between 11-14% of their total payroll expense.
Have you filed your 2020 taxes yet? At Financial Fitness for Life, we know it can be overwhelming doing your taxes, especially having to deal with a Pandemic, there are even more questions surrounding this year’s tax season and Tax Day.