Fighting procrastination for financial wellness - harness the power of inertia
Date
2017-09
Authors
Wang, Tianyang, author
Financial Wellness Essay, Society of Actuaries, publisher
Journal Title
Journal ISSN
Volume Title
Abstract
The need to save for financial wellness is universal, yet planning for it is hard. According to a 2016 PricewaterhouseCoopers survey, 52% of employees report difficulty managing their personal finances. A majority of Americans today face a looming retirement crisis considering the fact that the median retirement account balance is only $2,500 for all working-age households and $14,500 for near-retirement households. More astoundingly, a recent Federal Reserve study reports that nearly half of Americans do not even have $400 in savings in case of an emergency.
Description
Includes bibliographical references (page 7).