Personal Wealth

What Are Online Banks? Learn the Pros and Cons

Online banks operate without branches. They tend to have higher rates and lower fees compared with traditional banks. What is online banking? Online banking, by definition, means managing your bank accounts with a computer or mobile device. This includes transferring funds, depositing checks and paying bills electronically. Traditional banks and credit unions with branches typically …

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The Psychology of Money – How Saving and Spending Habits are Programmed in Your Brain

Have you ever wondered why you handle money the way you do? Perhaps you’re a saver and you feel satisfaction every time you look at your growing account balances and displeasure when you need to buy something. Or maybe you’re a compulsive shopaholic, looking at life as something to enjoy, so you buy on impulse and pay …

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The 11 Worst Retirement Mistakes—And How to Sidestep Them

Think ahead and you can avoid these missteps and save your retirement To avoid the worst retirement mistakes, you have to be realistic about your future plans and think ahead. Unfortunately, it’s all too easy to make the wrong financial moves when preparing for retirement. According to the Federal Reserve, 37% of non-retired adults believe …

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4 Things That May Help Maximize 401(k) Savings in 2021

With pensions disappearing and the future of social security unknown, American workers are now largely responsible for their retirement savings.  For many employees, a 401(k) is their largest asset come retirement.   Yet, too many investors set up their 401(k), contribute each paycheck, and do little else with it.  Contrary to popular belief, growing your 401(k) …

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Financial Wellness: The New Must-Have Employee Benefit

If you had a choice, what’s better: Free snacks and massages, or a financial wellness program that can address the No. 1 concern of your employees — financial stress? The Aha Moment In Waiting The transformative nature of employee financial wellness is still not widely appreciated in corporate America. There hasn’t been a fundamental shift …

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Financial Wellness in a Digital Age: Actionable Ways to Engage Participants

‘Once you’ve got your tech platform sorted, you can leverage different tools like breakout rooms and whiteboards’ Implementing financial wellness programs with plan sponsors was already hard. Cue COVID-19 and the challenges have multiplied. Advisors are no longer able to gather employees around pizza in a conference room to walk them through a PowerPoint presentation. In fact, it seems like most financial wellness programs have completely ceased as a result of …

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