Finally stressed?

According to a recent survey, financial stress is increasingly common, affecting nearly 74% of Americans.

The top stressors remain inflation, rising interest rates, economic instability, and a lack of savings.

You’re not alone if you find yourself among the 37% who are “very stressed” about money!

What might not be obvious is that this stress can directly impact your ability to save for retirement, with 41% of workers not contributing to a 401(k) or employer-sponsored plan.

After all, it’s hard to save for the future when the now is, well, now.

In 2023, the 401(k) contribution limits are $22,500 for those under 50 and $30,000 for those 50 and older, including catch-up contributions. On average, companies match 4.7% of a worker’s salary.

So let’s get practical for a moment – I’d like to share three steps with you to help boost your financial wellness, and reduce stress.

● For 401(k)s, aim to contribute at least as much as your employer will match. Anything less is money down the proverbial drain.

● Aim to save at least three to six months of living expenses in a high-yield, easily accessible account.

● Before maxing out retirement contributions, get high-interest debts like credit cards under control.

Remember, managing your financial wellness is a journey, and each small step you take now will help get you to where you want to be at the end of it.

So, if you have questions or want personalized advice from a financial advisor, I’ve made it easy to work with me. It all starts with a 15-minute consultation – book your spot by calling 330 836 7800 EXT. 1 or >>clicking here.<<