The top cause of stress? Surprise, Surprise Money. Here’s what to do about it.

Many Americans are one car accident or one medical bill away from plunging into irreversible debt. That’s why the biggest source of stress for Americans is personal finance. And yet, it doesn’t have to be that way.

Right now our financial services industry isn’t doing enough to help individuals achieve financial wellness. “Financial wellness” means maintaining a healthy and efficient financial life in which you’re using today’s resources to plan intelligently for the future — such that money doesn’t cause you stress or anxiety.

And while…


The Best Strategy for Achieving True Financial Wellness

“Where should I start?”

In a decade working as a financial advisor, this was the question that I heard again and again. When new clients sat down to take a hard look at their finances, they were almost always overwhelmed by the enormity of the task. Naturally they wanted to know which element of their financial life — savings, retirement planning, insurance, or something else — most needed their attention. In other words, they wanted a simple guidepost for beginning an otherwise scary process.

Most financial planning services, however, aren’t designed to…


Best Practices for a Financial Wellness Program

As an HR professional weighing the options of a comprehensive financial wellness program for your organization, it is best to review the components of a successful one.

Financial Wellness should be. . .

Easily accessible to maximize engagement by leveraging innovative technology, and integrating professional experts and advice.

Integrated with programs that employees already uses regularly to manage their healthcare, savings and other benefits.

Incorporate a customized and personalized assessment to acknowledge each individual employee’s financial concerns based on their current financial situation, income, short and long term savings, debt-load and insurance coverage…


10 Ways Financial Wellness Helps Build a Stronger Workplace

According to Benefits Pro magazine and a survey by Jellyvision (Harris Poll), employees want financial well-being. In other words, they don’t want to stress about money. According to this survey 86% of employees think employers should offer a program to help boost their financial confidence.1

10 Ways Financial Wellness Helps Your Employees

1) Financial wellness programs help reduce mental and physical stress so employees can focus on their work responsibilities and become more productive and engaged with their colleagues and their goals.

2) Financial well-being has a direct impact on employees…


How to Help Your Employees and Team Become Financially Fit.

With financial wellness leading as one of the most popular trends for workplace benefits in 2016, a majority of organizations feel a sense of responsibility to offer a wellness program to help their staff become more financially secure. Employees are stressed and don’t have the mental bandwidth it takes to manage their finances properly let alone have enough savings for short term emergencies and long term goals. Supporting the financial health of employees is now becoming as popular as programs for their physical and nutritional health.

However, when faced with…


Growing Demand for Financial Wellness in the Workplace

As corporate wellness programs continue to become more popular in American businesses, so do financially-focused benefit solutions. Today, 70 percent of employers have wellness programs in place*. Among the largest US employers, 93 percent intend to focus on the financial well-being of their employees^. According to the 2015 Financial Wellness Survey from FSFE, 60 percent of employers that offer wellness programs already have a financial component.

Employers are seeing the benefits of offering a financial wellness program and it has been proven that having people who are more financially literate will help…


Why Offer Financial Wellness in the Workplace?

For those companies that already offer financial wellness in the workplace, 57% agree that offering this benefit to employees has a positive effect on productivity.1 Over the past decade or so, employers have seen health and wellness programs benefit their organization with fewer absences and less demands on employer-sponsored health insurance. Now more employers are adding a new type of wellness program to their organization — financial wellness.

$70 Billion in 401(k) Loans

24% of employees say that personal financial issues are a distraction at work and over 1/3rd say they spend three…


What is Financial Wellness in the Workplace?

Financial Wellness in the Workplace

Statistics vary, but most seem pretty dismal. The majority of American workers are facing economic challenges that threaten their ability to meet their current and future financial needs. Nearly 2 out of 3 American families live paycheck to paycheck.1 For many families, a premature death or disability could mean financial ruin. An unexpected health event could generate unforeseen out of pocket expenses.

Money, Not Work, is the Number One Stressor

The American Psychological Association (APA) recently reported that money remains the number one stressor for 72 % of Americans.

Employees who are stressed…

RJ Irving

Former Morgan Stanley Financial Advisor and co-creator of Melius. Passionate about distilling the complex world of personal finance.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store