Anne/Ann Tergesen
speaker
196 appearances
4 recordings
1 series
first heard Apr 2018
last heard Aug 2023
Anne/Ann Tergesen’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · How Families Are Budgeting for This Year's Holiday Spending · 20 Dec 2021
podcast
I thought that that example showed how, you know, that some people have really been able to capitalize on some of the halt required student loan repayments to really improve their financial situations.
And I thought that was really impressive.
Yeah, that's right.
I think over the last couple of years, there's been a lot of emphasis among corporations on what they call financial wellness for their employees.
And in the course of kind of emphasizing that, I think companies are starting to take a much more holistic look at people's finances.
And they're realizing that just offering an attractive 401k plan doesn't necessarily solve the retirement savings problem that people are having.
Because if people are
making mistakes with the rest of their finances and they're, you know, maybe taking on too much debt or they're not saving for emergencies, then they're going to come to their 401k and kind of rate it when they have emergency needs.
Right.
And that's, you know, that's over time.
But yes, and that can really impact people's retirement readiness.
So people on the whole, I think the finding from Boston College researchers is that retirement savings is 25 percent less in aggregate than it would be, given the fact that people do kind of prematurely raid their 401ks.
Yeah, it affects the aggregate retirement savings of Americans.
Yeah, it's interesting.
I mean, I think there is evidence, and I haven't delved into this too deeply, there is evidence that people who are from the lower income quintiles are disproportionately affected, but there are definitely people who are from the upper income quintiles who also are unprepared for emergencies.
They just don't have the kind of liquid savings that they need.
So SunTrust has a really interesting initiative.
They call it, I think they call it Momentum OnUp.
And it's something that they do with their own workforce, but they also offer it to other companies to be, other companies can use it as well.
So with their own employees, what they do is they offer them $1,000 if they can complete an eight-part financial education class and also take certain actions.
Showing 101–120 of 196 · page 6 of 10
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