lack of education and priority in retirement planning is to blame
St. Louis, MO (PRWEB) March 27, 2013
A recent survey by Franklin Templeton (RISE 2013 survey) shows that 20% of Americans plan on never retiring. The survey further shows that 31% of Americans ages 45 to 54 have not started saving for retirement and 56% of those within 6 to 10 years of retirement have less than $100,000 in total retirement savings. Four Seasons Financial Education, a workplace financial wellness provider, confirms these statistics are what they see among employer groups and have enhanced their retirement education programs.
"The Great Recession has certainly contributed to these statistics, but the lack of education and priority in retirement planning is to blame as well. This is why we are enhancing our retirement education," says Travis Freeman, President of Four Seasons.
"People just aren't used to planning for something 20 to 30 years into the future. It takes an employer and a good financial wellness provider to curb these trends," says Freeman.
Four Seasons cites demand for retirement education programs has grown over the last year likely due to a slow economic recovery and an aging workforce. Employers in the United States are under growing pressure to encourage employees to save for retirement amidst increased payroll and healthcare costs.
About Four Seasons Financial Education
Four Seasons Financial Education provides workplace financial wellness and education services to companies throughout the US to help them improve their bottom line. We take a strictly academic approach to financial education and focus on the core areas of personal finance which may help increase employee productivity and organizational performance. Securities, training and financial planning services are offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.