What is Financial Well Being?


Manage episode 351857652 series 2904480
By Traci Dority-Shanklin. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Most Americans are under-prepared for retirement. Many studies point to a potential retirement crisis. The most sophisticated models imply that anywhere from 25 to 50% of US households, preparing for retirement will end up short of the savings needed. According to the National Library of Medicine, 40% of personal bankruptcies are because of excessive bills. Financial well-being is more than just about our ability to pay our bills or retire with dignity. Financial well-being impacts every area of our lives and is critical to our overall quality of life. Financial well-being is so vital that multiemployer benefit funds actively seek ways to communicate the available tools and resources and educate plan participants. Traci welcomes Jennifer Schuster and Josh Meyers from Segal Benz Communications, a firm that specializes in consolidating and directing multiemployer plan participants on available financial planning tools.

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