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The journey to financial wellness

Sep 23, 2021
Empower Institute

How to help employees improve their financial health and achieve their goals

The concept of financial wellness has gained popularity in recent years, but Americans rarely agree about how to define it. In fact, 83% say there is not one definition for financial health, because it varies from person to person, and individuals associate a wide range of non-financial aspects with the term, according to a new survey conducted by The Harris Poll on behalf of Empower Retirement and Personal Capital.

Graphic. Americans connect other aspects of their life with financial health

What type of help do Americans want?

Seventy-eight percent of Americans say they need help optimizing their financial well-being, but they want and need different levels of advice.

Graphic. What type of help do Americans want? Paying off debt 32%. Building emergency fund 30%.

The areas on which Americans agree regarding the complex notion of financial health provide an important roadmap for employers. In particular, employers can help by offering a range of tools, resources and advice services. Download the full research brief for an employer support roadmap.

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Survey Methodology: This survey was conducted by The Harris Poll on behalf of Empower Retirement and Personal Capital from March 23 to April 5, 2021. The 2,005 survey respondents were 18 or older and U.S. residents.

Personal Capital is an affiliate of Empower Retirement. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.

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Empowering America’s Financial Journey

Empowering America’s Financial Journey carefully analyzes the behavior of approximately 4 million active defined contribution participants.

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