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Zyzyrgy Research The team at Zyzyrgy is always looking for the latest information on the industry. Major Stock Markets PERSONAL FRANCHISE FROM THE HOME
PORTION OF REVENUE FROM PERSOANAL FRANCHISE FROM
THE HOME
Top Billion $$ Companies (2007)
Key Supporters
Trends
"A large
percentage of American workers see that the "Among workers
who have personally experienced reductions in retirement benefits offered by
their employer, nearly 2 in 5 indicate that they have done nothing in response
to these reductions." "Almost half
of workers saving for retirement report total savings and investments (not
including the value of their primary residence or any defined benefit plans) of
less than $25,000. The majority of workers who have not put money aside for
retirement have little in savings at all: 7 in 10 of these workers say their
assets total less than $10,000." "The survey
found that more people (40 percent) found the advice of a financial
professional most helpful when compared with all other sources of education
materials about retirement." "More
employers are providing retirement and financial planning services." "...most
employees said their benefits programs were not very effective at meeting their
needs for affordable health care and building their retirement nest eggs...they
did not feel their employers were adequately helping them shoulder this
responsibility...employees don't believe their companies are rolling out the
changes in their programs with adequate support, communication and tools." "Only 1/2 of
employees said they're actually saving more on their own for retirement, and
only 40 percent or so are contributing more to company plans or making more use
of company tools to do their own planning." "Working "A 65-year-old
couple retiring today could expect to pay $215,000 to cover medical costs in
retirement, a 7.5% increase from the 2006 estimate of $200,000." "Seventy-two
percent of those surveyed expressed concern that Social Security won't be
around in the future. Meanwhile, 53% express the same concern for
Medicare." "Sixty-one
percent of those surveyed feld that the decline in company benefits was
negatively affecting their ability to achieve financial security." "Personal
finance and benefits education at the workplace early in career is critical to
build a solid financial foundation." "80 percent of
[survey] respondents who had received a combination of workplace financial
education and individual financial counseling felt they had a more adequate
knowledge of personal finances. More than 44 percent said they had developed a
plan for their financial future and about 37 percent reduced some of their
personal debt." "Access to
financial planning services in the workplace may help employees feel more
prepared to plan for and make important financial decisions." "37 percent
want employers to give them access to a financial planner and 43 percent would
like 401(k) planning advice." "20 percent of
Americans actually believe winning the lottery is their best shot at
accumulating several hundred thousand dollars over their lifetimes." "30 percent of
"Nearly three
out of five younger Americans (35-49) saved less than $10,000 for retirement
last year - too little to sustain an average middle-class lifestyle in
retirement." "28 percent
[of employees] are not only worse off than last year, but are also just one
major setback away from financial disaster." "Households
with at least one credit card carried an average of $9,498 in card debt in
2005, nearly twice the level of a decade ago" "Only 16 percent of singles said they feel in
control of their finances and 55 percent said they live paycheck to paycheck.
Among young families, 48 percent said they sometimes have trouble paying bills.
And 56 percent of employees cite "outliving their retirement assets"
as their top retirement concern, up from 49 percent in 2004." "Nearly 52 percent of those surveyed indicated
they had put aside less than $50,000 in savings and investments for retirement.
Alarmingly, 75 percent of those who had not put any money aside for retirement
have less than $10,000 of assets saved in general - emergency savings,
retirement, or otherwise" "[Americans] have the lowest personal savings
rate since the Great Depression - in January 2006 it dropped to minus 0.7
percent." "More education is needed - Younger Americans
are misguided in their expectations for pension plans. Fifty percent of
respondents aged 18 to 34 believe their employer will offer a pension
plan." "Nine out of ten (90 percent) high-net worth
households are concerned that spiraling health care costs might affect their
ability to enjoy retirement." "46% of workers believe they are saving enough
for retirement, down from 52% in 2000." |