- All in the Dysfunctional Family
Generational business fails and what to do about them
by Kate Zabriskie
Anyone in a family business knows that according to many statistics, the chance of the business surviving declines with each handoff to the next generation. What causes the drop off? Among the myriad of reasons, times change, dedication levels vary, and talent isn’t always genetic.
read more - Employee’s Capacity To Undertake Change In The Workplace Has Plummeted
During a time when change is the antidote organizations need to reset and rebuild
The amount of change that the average employee can absorb without becoming fatigued in 2020 has been cut in half compared to 2019, according to Gartner, Inc. Amid worries about the economy, job security, their health and the health of their loved ones, employees’ capacity to take on change in the workplace has plunged significantly.
read more - Most Believe the 2020 COVID-19 Economy is Worse than the 2008 Great Recession
Whether its forced withdrawals from savings/retirement accounts, supporting family/friends, or simply paying bills, many are feeling the harrowing sting of the pandemic
More than half of U.S. adults (51%) believe the COVID-19 economy is worse than the 2008 Great Recession, according to a study released today by Edelman Financial Engines, the nation’s largest independent financial planning and investment advisor.
read more - Americans Are Maintaining Healthy Credit Profiles During COVID-19
Latest State of Credit report highlights less credit card debt, lower utilization rates and fewer missed payments year-over-year
In a continued effort to educate consumers about factors influencing their financial health, Experian® today released key findings from its 11th annual State of Credit report, which examined how consumers are managing their credit histories against the backdrop of the COVID-19 pandemic.
read more - Employees With Company Stock Plans Seek More Advice
Uncertainty of the times driving participants to reprioritize short, long term goals
New research from Schwab Stock Plan Services shows the impact of the COVID-19 pandemic on equity compensation plan participants’ decisions. The survey finds that of those who recently exercised or sold equity compensation, two-thirds (67%) were influenced by the market volatility and economic downturn related to the pandemic.
read more - Most Boomer Investors Are Confident About Their Retirement
Four in five believe they will have a better retirement than their parents, despite pandemic and market uncertainties
Amidst a global pandemic, economic uncertainties and an election looming, Boomers invested for retirement are confident that they will still enjoy their golden years. According to the Charles Schwab 2020 Modern Retirement Survey, more than 80 percent of both those who have retired and those who are soon-to-retire are satisfied or confident their lifestyle will…
read more - Small Businesses Feel Biggest Impact of Coronavirus Pandemic
Forty-three percent of those say the impact was significant to severe
Small- and mid-sized businesses in the U.S. have demonstrated a disproportionate impact from the COVID-19 pandemic, with over 43% surveyed reporting a significant to severe impact, according to findings from the CBIZ Main Street Index. The index found the majority (84%) of businesses surveyed realized some impact from the pandemic and corresponding economic slowdown
read more - Women’s Health Care Costs in Retirement Projected to be $200,000 More than Men’s
Small steps can make a big difference in bridging the Women’s Longevity Gap
Health care costs are a major expense during the Women’s Longevity Gap, the period in which a woman will need to cover expenses single-handedly after the death of a male spouse or partner, according to recent data from HealthView Services, the nation’s leading provider of health care cost projection software. The company estimates that in…
read more - Pandemic Forces Financially Harmful Actions
More than half regret borrowing from their retirement funds
Millions of U.S. workers have admitted to withdrawing or borrowing money from their retirement plans, an action made easier by the CARES Act, but most who did so (55%) now regret it, according to research by Edelman Financial Engines.
read more - Guaranteed Income Benefit In Retirement Plan A Deciding Factor For Job Seekers
Two-Thirds of workers said these solutions would make it easier to budget their money in retirement and they would feel more confident in preparing for retirement
If employers want to “wow” current and prospective employees, they should offer a guaranteed income option within their retirement plan, according to new research from Lincoln Financial Group (NYSE: LNC). Findings from a new consumer survey reveal that workers indicate a strong preference for employers that offer a guaranteed income option in their retirement plan,…
read more - Impact of CARES Act Distribution Provisions on Government DC Plans
More recordkeepers reported implementing deferred loan repayments
In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed, with specific implications for defined contribution participants. The Public Retirement Research Lab (PRRL), a joint program of EBRI and NAGDCA, subsequently surveyed federal, state, and local government defined contribution (DC) plan recordkeepers about their experience with CARES Act loan and distribution…
read more - Consumer Interest in Guaranteed Retirement Income Options Remains High
As they recognize a ‘distinct lack of confidence’ that money will last through retirement
Americans with employer-sponsored retirement plans continue to express high levels of interest in guaranteed lifetime income options according to a recent study* from Allianz Life Insurance Company of North America (Allianz Life). The findings indicate that 71% of participants in an employer-sponsored plan would like an option that offers guaranteed income for life in their…
read more - Pandemic Continues Producing Persistent Widespread Financial Anxiety
With no end in sight, global perceptions of health and well-being remain weak
Cigna's (NYSE:CI) International Markets business today published the third edition of its COVID-19 Global Impact Study, which sheds new light on the impact of the virus on global perceptions of health and well-being.
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