Why financial wellness programs disappoint and the upside of going gray

Why financial wellness programs disappoint and the upside of going gray

Why financial wellness programs disappoint and the upside of going gray

From MarketWatch:

Those ‘financial wellness’ programs at work are failing. Here’s why: Many workers under 40 years old aren’t doing enough to save for retirement, and although employers mean well by offering programs to assist them in planning their future, there seems to be a disconnect. It turns out, employees need more than access to a plan — they need professionals who will provide them with personalized advice to get them on track to their goals.

The best way to save for retirement may be to not think about it: Account balance averages have grown and people are taking out less loans from their 401(k) plans, but workers are still anxious — even if they’ve saved a significant amount of money throughout their careers. Want to help yourself out? Consider automatically contributing to a plan every paycheck, and not worrying so much when you do come up with a plan to work for you.

Is silver the new blonde? Many older women are opting to go gray: See gray hairs? Never fear — they’re cool these days. Lorraine Massey, co-author of “Silver Hair: Say Goodbye to the Dye and Let Your Natural Light Shine,” said women (and everyone really) should embrace the aging process, and find beauty in those silvery strands. She offers a new perspective on hair.

Also on MarketWatch:

Don’t have kids? 7 ways to prepare for old age

This solution could save millions of people from poverty in their old age

What you probably don’t know about Social Security

How to market-time your retirement portfolio

Doing this one thing could make you a better investor — and it’s free

This is how to have the ‘perfect’ retirement

Why the latest warnings about cuts to social Security and Medicare are a reason to worry

More in retirement news:

Retirement success: Focus on the paycheck, not a savings number (Reuters)

The fear of running out of money in retirement is overblown (CNBC)

20 jaw-dropping stats about retirement (Motley Fool)

Lt. Gov. Dan Patrick urges Teacher Retirement System not to raise health care premiums (The Texas Tribune)

Retire Jimmy Buffett-style to a Margaritaville-themed retirement community (Fox8)

Scammers are targeting retirement savings. Here’s how to fight them. (Marketplace)

Great tiny homes for retirement (Kiplinger)

Research and Insight:

Young people want to retire by age 60 — but experts warn the ‘new retirement age’ is 70

Automatic enrollment can boost retirement plan participation (Pew)

People retire early for two reasons, and neither of them is money (Business Insider)

US increasingly polarized — by geography (Center for Retirement Research at Boston College)

After using their 401(k)s as a piggy bank, workers fret for the future (Employer Benefit Adviser)

To share with your family, friends and clients:

How to navigate the nightmare of job-hunting when you’re over 50

How one M.D.’s dream house became a kind of nightmare

Don’t confuse public pension cost with generosity

Student loans after 40: Is your retirement doomed?

I tested 2 free Social Security retirement calculators, and here’s what I found

Alessandra Malito

Alessandra Malito is a personal finance reporter based in New York. You can follow her on Twitter @malito_ali.

We Want to Hear from You

Join the conversation

CommentOriginal Article