Retirement

Workers are feeling more optimistic about their retirement prospects and more confident they can achieve their retirement goals, according to a new Charles Schwab study.

Inflation was higher wage growth for postal workers (minus 13%) marketers (minus 8%), real estate agents (minus 7%), accountants (minus 6%) and Insurance agents (minus 6%).

The extent to which an employer's current plan meets these objectives dictates whether it might be time to consider a new more modern plan design.

Many employees (67%) believe their employer has a responsibility to help with financial planning because "if that's where my nest egg is, that's where my financial planning should come from," according to a recent EBRI webinar.

One in three attribute a portion of their debt to emergency care, and 1 in 4 to prescription drugs.

Complex terminology can confuse retirement plan sponsors and participants, who must understand these differences in order to make informed decisions that secure financial stability.