More than half of all employees say that financial matters are their number one cause of stress in the workplace. It isn’t a cranky boss or even the job itself, the latter of which ranked second in the 2020 Annual Financial Wellness Survey conducted by Pricewaterhouse Cooper. Instead, 47 percent of employees said they have missed work because they were worried about their total financial wellbeing.
The 2018 EBRI Retirement Confidence Survey found that 17% of workers feel very confident in their ability to live comfortably in retirement, whereas 47% are somewhat confident.1 Combining these two groups, we can infer that 36% of workers are not confident in their ability to live comfortably in retirement, and/or 83% are somewhat confident to not confident at all. This report illustrates that workers nearing retirement are unsure of themselves and the actions needed for their desired retirement lifestyle.