Summer break is a great time to begin adding age-appropriate chores to your children’s schedules and, more importantly, to introduce them to some basics around how to earn, save and spend their hard-earned dollars.
Essentially treading water for the first half of the quarter, markets found their footing and finished positive across every major asset class. Continued vaccination success, massive amounts of fiscal and monetary stimulus, solid economic activity, and earnings acceleration all contributed to the investor optimism that witnessed the S&P 500 deliver positive quarterly results for the fifth consecutive quarter, which is the longest consecutive streak since the nine-quarter stretch that ended in 2017.
Financial wellness continues to be one of most frequently discussed topics in the retirement plan consulting and advisory world. Financial stress affects almost half of the US population and is present in virtually every workplace. A successful financial wellness program can be extremely beneficial for both employer and employee in dealing with this stress. That said, there are several key components that a program must include to provide impactful, lasting change.
It is no secret that financial stress has a significant impact on mental health, productivity, turnover and absenteeism in the workplace. By some estimates, pre-pandemic financial stress cost US businesses upwards of $500 billion per year. Lost productivity, turnover and other factors related to stress cost the average company between 11-14% of their total payroll expense.
Have you filed your 2020 taxes yet? At Financial Fitness for Life, we know it can be overwhelming doing your taxes, especially having to deal with a Pandemic, there are even more questions surrounding this year’s tax season and Tax Day.