Data and Research September 7, 2018

Employees Not Realizing the Importance of Debt Control in Retirement Planning

Although a majority of workers thought workplace financial well-being programs would be either very or somewhat helpful in better preparing or saving for retirement, fewer than half of workers thought debt counseling or budgeting help would be helpful, EBRI found.

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In a special report analyzing data from its 2017 and 2018 Retirement Confidence Surveys, the Employee Benefit Research Institute (EBRI) notes that a significant percentage of workers across the board reported feeling stressed about preparing for retirement in both surveys.

In particular, workers with lower incomes (64%), those who have not calculated how much they will need to save for retirement (65%), and those in fair or poor health (75%) said that they strongly or somewhat agreed that preparing for retirement makes them feel stressed in the 2018 survey.

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Thirty percent of workers overall reported worrying about finances at work. Debt was correlated with worrying; nearly three-quarters (71%) of those who said debt was a major problem worried about finances at work, compared with just 9% of those who said debt was not a problem. In addition, more than half (55%) of those who were not confident about living comfortably in retirement were worried about finances at work versus just 7% of those who were very confident, EBRI found.

Despite the correlation between debt and worrying about finances, although a majority of workers thought workplace financial well-being programs would be either very or somewhat helpful in better preparing or saving for retirement, fewer than half of workers thought debt counseling or budgeting help would be helpful, and fewer than four in ten (39%) workers thought student loan debt assistance programs would be helpful in preparing for retirement. However, younger workers were much more likely to perceive these programs as being helpful than older workers, EBRI notes.

Similarly, the majority of workers thought retirement planning and financial planning programs would increase their productivity at work, yet debt counseling (29%) was thought to be the least likely to be helpful for productivity.

Help calculating how much to save for a secure retirement (75% in the 2018 survey), help calculating how much to anticipate spending each month in retirement (72%), planning for health care expenses in retirement (72%), and help with comprehensive financial planning (68%) were all considered useful in financial well-being programs. And, other programs that had higher likelihoods for increased workplace productivity include financial planning (48%) and health care planning (47%) programs.

EBRI again points out that younger (ages 25 to 34) workers were more likely to think that debt counseling, expense management, prioritizing savings, and budgeting programs were helpful than older (ages 55 or older) workers.

The full EBRI Issue Brief is at https://www.ebri.org/pdf/EBRI_IB_457_RCSFW.20Aug18.pdf.
Break from the Grind September 6, 2018

A Little Friday File Fun

And now it's time for FRIDAY FILES!
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What’s the most germ-filled spot in an airport? It’s not the bathroom. A new study from a team of experts from the UK’s University of Nottingham and the Finnish National Institute for Health and Welfare, published in the BMC Infectious Diseases journal, has revealed those airport security plastic bins are the biggest culprit for spreading germs in airports. So, a CNN news report recommends that the next time you’re dumping your phone, passport and laptop into the bin—have hand sanitizer handy. The team monitored germ levels on a variety of surfaces at Helsinki-Vantaa airport in Finland during the winter of 2016. They found evidence of viruses on 10% of all the surfaces they tested. Other germ hotspots were shop payment terminals, staircase rails, passport checking counters, children’s play areas and in the air. There was evidence of rhinovirus—the cause of the common cold—plus some signs of influenza. The CNN report noted that a 2015 study from Travelmath reported that the tray table was the most germ-filled item inside an airplane, with overhead air vents also among the most germ-filled surfaces.

 

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Ruso, North Dakota, is the state’s smallest city and almost lost its incorporation. After the death of its long-time mayor, the population fizzled to only two residents. According to the North Dakota Century Code, it takes a minimum of three residents for a community to be incorporated, the Associated Press reports. The city discovered that a man qualifies as a resident because he has a Ruso mailbox and makes daily checks on his horses and chickens on land within city limits. He is expected to become the city’s next mayor. The man and his wife currently live in Velva but plan to move later this year to Ruso, where they have a residence under construction. And the town is saved!

 

In Roanoke, Virginia, the operator of Clean Soles, a two-year-old sneaker store, was raided by two people on July 20 and by one person in August 25. The Roanoke Times reports he lost shirts, hoodies, a jacket, one complete sneaker pair—and 13 right shoes. The store operator says he typically keeps right shoes on display, while their other halves rest behind the counter.

 

In Lincolnshire County, UK, a 78-year-old recently had a very, very bad day. First, he was cycling quickly to put in lottery numbers in time for a drawing when a motorist pulled in front of him, knocking him off his bike. He missed putting in his numbers by 15 minutes, and later found his numbers would have won him £10,000, The Sun reports. Deciding to drown his sorrows, the man went out for drinks. When he returned home, he started cooking some food on the stove, but feel asleep and woke up to the sound of the fire alarm. The kitchen blaze grew, stripping roof tiles and melting an extractor fan, before firefighters arrived and put it out.
Is this a door or a beach?



In New York City, the smallest diamond thief was caught on camera.

If you can't view the below video, try https://youtu.be/gi8QCtAaxZw.
In Kuwait, a store has reportedly been shut down for tampering with its products. It was sticking ‘googly eyes’ on fish to make them appear fresher.
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