Personalized Financial Wellness Education Motivates Action

07/05/2022 Written by: Jenny Boudreau

For many, the COVID-19 pandemic spurred reflection on what’s important. We have reevaluated our life, finances, career, and even our plans for retirement. COVID changed our priorities.

With so much uncertainty, it appears Americans are ready to change their financial behavior. Whether tackling debt or saving for emergencies, good financial health is the foundation for financial preparedness, retirement security, and confidence.

New research[1] shows that when employees improve their financial wellness, they better manage everyday expenses, reduce financial stress, save for retirement, vacations, and other goals, pay off student loans and credit card debt, and save for emergencies.

The good news is that employers have an opportunity to positively impact their employees’ financial wellness.

Personalized communication campaigns are a simple way to motivate employees to take action. A combination of articles, videos, and seminars can provide valuable education throughout the year. A short employee survey will let you know what people are interested in learning more about, but some popular topics include:

  • What investments to choose
  • How much to save
  • How to manage investments at different ages
  • How is money in the retirement plan taxed
  • How to convert savings into retirement income after retirement

Despite good intentions, employees don’t always make changes that lead to saving more for retirement. Employers that implement features such as auto-enrollment and/or auto-escalate make it fast and easy for employees that haven’t gotten around to enrolling in the retirement plan or who haven’t increased their deferral rate.

Another powerful savings motivator is the employer matching contribution. The power of the match is evident in participants’ savings behavior. According to the research, 40% of participants who are offered a match contribute the maximum their employer will match[2].

Many people lack the confidence to make financial decisions, but using simple, relevant education that relates to an individual’s unique situation is vital in making a difference. Tools, resources, and one-on-one conversations with a financial professional can help employees understand their current situation and what steps they need to take to meet their goals.

Employers working with their retirement plan advisor can provide relevant education that strives to give employees the confidence to become successful savers. Contact AssuredPartners Investment Advisors for additional resources designed to empower employees to learn and improve their financial wellness.

[1] “Return to Wellness,” Lincoln Financial Group, 2021,

[2] Ibid.

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