David Lerner Associates: Ending Financial Stress with Planning

David Lerner Associates: Ending Financial Stress with Planning

Core Facts

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Bank of America / Merrill Lynch’s 2016 Workplace Benefits Report was an interesting study in the financial confidence of today’s workers. 

75% of employees polled indicated they are not financially secure, and 60% say they are somewhat or very stressed by their financial situation, according to the report. 

69% say they have experienced an increase in health care costs in the past two years, and 52% report that they want employers to provide access to a one-on-one relationship with a financial professional. 

So despite overall economic growth, it would seem that many individuals and families continue to struggle juggling paychecks, bills, and making long-term financial decisions. The decreasing confidence amid ongoing market volatility along with pundits who can’t predict what will happen from one day to the next and persistent concern about the financial future is certainly indicative of our times.

Planning makes the difference

Perhaps the biggest difference between the groups labeled Very Secure and Not At All Secure comes down to one word: planning. Very Secure employees appear far more likely than Not At All Secure employees to envision the future and take steps to prepare for it financially. 

Not surprisingly perhaps, the survey found people said they were more secure when they had a firm idea of what they would need in retirement, or if approaching retirement, had developed a plan to draw income from their savings. They also thought of health savings accounts (HSAs) as long-term medical savings vehicles. 

And while the struggle of day-to-day worries may seem to impede the mental bandwidth to deal with long-term planning, it actually works reverse-wise. The act of planning for the future reduces the stress of daily financial concerns. 




Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC



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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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