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Insights

How to Improve Financial Wellness for Your Employees and Clients

Posted by GuidedChoice on Apr 4, 2019 2:21:00 PM

Over the last decade, employers have embraced workplace wellness programs, understanding the clear benefits of a healthier, more productive workforce.

But as debt, healthcare costs, and other factors contribute to an increasingly financially strained and stressed workforce, employers are turning to financial wellness programs.

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Topics: financial wellness, improving financial wellness

Harnessing the Power of Retirement Readiness to Enhance Plan Success and Improve Outcomes

Posted by GuidedChoice on Sep 12, 2018 10:29:14 AM

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Historically, retirement plan sponsors, advisors and recordkeepers have assessed plan health based on fundamental metrics such as participation and deferral rates. While these are significant on their own merits, they don’t reveal anything about “retirement readiness” — that is, how financially prepared an organization’s workforce is for retirement. After all, the key purpose of a workplace retirement plan is to provide employees an opportunity to set aside a portion of their earnings to build financial security for their so-called “golden years.” 

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Topics: Business Insights, financial wellness, retirement readiness, plan metrics, participant readiness, retirement plan health metrics, plan analytics dashboard, DC plan analytics, 401(k) health analytics, plan analytics, plan health metrics

Why Consider A Mortgage Prepayment: 8 Practical Considerations

Posted by GuidedChoice on Apr 27, 2018 3:23:17 PM

Whether you have a surplus in your household budget or have received a lump sum of cash, the decision of where to invest the excess funds can be daunting. An option many consider is to apply it as a prepayment on a mortgage in order to save on interest and eventually pay the loan off early. For example, adding an extra $300 to every payment on a $250,000 30-year mortgage at a 4.6 percent APR will save you more than $75,000 in interest and allow you to pay off your mortgage nine years early.

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Topics: Near or in Retirement, All, Featured, Saving for Retirement, financial wellness, paying off my mortgage, mortage prepayment, Why Consider A Mortage Prepayment?, should I pay off my mortgage

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