Workplace Financial Wellness in America: A Year in Review
May 31, 2024Abstract:
Looking back, 2023 was a year of two opposing stories—and two different economies. For investors, stock market gains helped propel savings balances to levels not seen for several years. By contrast, financially vulnerable workers continued to feel the economic pressure of persistent inflation and higher federal interest rates. These factors have a tremendous impact on financial resilience and retirement preparedness, as well as financial stress levels. Given the strong relationship between financial stress and job satisfaction, mental and physical health, and productivity, the argument for offering financial coaching that helps American workers improve in these areas remains clear.