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Special Report

Financial Wellness

Benefits advisors and their employer clients are increasingly seeking information and guidance about offering financial wellness plans to their employees. Financial wellness can encompass many things, from financial education to voluntary products to budgeting and financial tools and more. This special report covers financial wellness from many perspectives, providing insight and strategies to help in the decision-making process.

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One economic snag benefit programs face in helping workers

The best-laid plans may go awry because of one single factor that holds true from coast to coast: the high cost of rent.

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for rent sign on building At the current federal minimum wage of $7.25 per hour, a worker would have to work at more than 3 full-time minimum-wage jobs, for a total of almost 127 hours a week, to be able to rent a 2-bedroom apartment and not sink more than 30 percent of their income into it. (Photo: Shutterstock)

Employee financial wellness, health and retirement savings all face a single threat that can derail any or all of them: rent.

As employers look to bolster health care, financial wellness programs and retirement savings to cut employee stress, improve productivity and open up opportunities for younger workers to advance, their best-laid plans may go awry because of one single factor that holds true from coast to coast: the high cost of rent.

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Marlene Satter

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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