- Gender Pay Gap Persists Into Retirement
Older women receive about 80% of retirement income that older men receive
While most Americans are struggling to save for retirement, women face even higher hurdles, largely stemming from the gender pay gap that eventually becomes a retirement wealth gap. Older women receive about 80% of the retirement income older men receive, a disparity that mirrors the gender pay gap.
read more - American’s Are Getting It Done… And Coping Too
In pandemic, they’re confronting fiscal tasks and taking control: How can others follow suit?
Will Smith is learning yoga; Arnold Schwarzenegger is polishing his chess game and the Beckham family is doing puzzles. What do these celebrities have in common with "regular people" with newly found time on their hands as they shelter at home? A large swath of working age Americans have been exceedingly productive during this time…
read more - Americans In Debt Spend a Third of Monthly Income Toward Paying It Off
U.S. adults owe an average of $26,621;
13% expect to be in debt the rest of their lives
The latest findings from Northwestern Mutual's 2020 Planning & Progress Study reveal that among Americans who carry debt, a third (33%) of their monthly income goes toward paying it off, exclusive of mortgages. Those with debt report having $26,621 on average, and 13% of Americans expect to be in debt the rest of their lives.
read more - Study Finds Americans Deem Emotional Intelligence In An Advisor Most Important
Displays of emotional intelligence from advisors more likely to earn Americans’ trust than digital literacy
The COVID-19 pandemic, its associated market volatility and new regulations to combat the fallout have all served as reminders that trust is the foundation of any advisor-client relationship. A recent Harris Poll study conducted on behalf of MDRT among over 2,000 U.S. adults found that 85% of Americans would be more likely to trust recommendations…
read more - Economic Optimism Rising Slightly as States Prepare to Reopen
Yet with 59% of Americans identifying as job sensitive, index remains in negative territory
Economic Optimism Index, a leading national poll on consumer confidence, rose by 4.0% in May after falling 11.3% in April and 9.9% in March. It remains in negative territory for the second consecutive month however, with a reading of 49.7. For the IBD/TIPP indexes, a reading below 50.0 indicates pessimism.
read more - Further Deterioration In Consumer Confidence
The Conference Board Consumer Confidence Index weakened significantly in April
The Conference Board Consumer Confidence Index® deteriorated further in April, following a sharp decline in March. The Index now stands at 86.9 (1985=100), down from 118.8 in March. The Present Situation Index – based on consumers' assessment of current business and labor market conditions – also declined considerably, from 166.7 to 76.4. However, the Expectations…
read more - Cash Is At The Heart Of The Struggle For Small, Family Businesses
NECP on how to survive the pandemic of 2020
Tom Desmond, Managing Partner of New England Consulting Partners (NECP), knows that for small and middle-market family businesses to survive, consistent cash flow is essential. It doesn’t have to be plentiful, but it must be steady without any starts and stops.
read more - Economic Normalization Near?
Stock prices ended the week slightly lower, despite news of positive results from a test trial of a COVID-19
Investors were emboldened last week by two significant developments: a quickening in the pace of state re-openings and positive results from a clinical trial of pandemic treatment. These developments turned investor focus toward economic normalization and away from the economic destruction that has occurred.
read more - Employees Looking To Employers For Support With Their Holistic Well-Being
More than half cite financial health as biggest concern
More than half (52 percent) of U.S. employees are most concerned with their financial health in the wake of the pandemic, MetLife’s 18th annual U.S. Employee Benefit Trends Study (EBTS) found. Employees are more concerned about their finances than any other aspect of their well-being, including physical (44 percent), mental (44 percent) and social health…
read more - Is There Relief From Our Current Financial Worries?
NFCC and Discover unveil how they are addressing the financial vulnerabilities revealed in the 2020 Financial Literacy Survey
As millions of Americans face the financial fallout surrounding the pandemic, they are turning to services and companies to provide relief. The National Foundation for Credit Counseling®(NFCC®) is one organization offering support and today released the results of the 2020 Financial Literacy Survey conducted by The Harris Poll among 2,004 U.S. adults ages 18+, which…
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