Encouraging working Americans to save more for retirement is a priority for employers, 401(k) plan administrators, and financial advisors. Despite attempts to motivate individuals to save more, contributions to 401(k) plans (as a percentage of worker income) have barely increased over the last two decades. Average 401(k) balances remain far below the levels many will need to maintain their standard of living in retirement, and one-third of workers have no retirement savings.
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HealthyCapital strives to be recognized as a leader in disseminating critical healthcare-cost information to individuals, both before and during retirement. More importantly, we also illustrate how to people can reduce medical expenses and successfully save for long-term goals through simple behavior modifications.
At the core of that ethos, HealthyCapital’s mission is to help people become healthier and more financially prepared for the future. The resources below provide a small sample of the data analysis that we have used to improve the financial and healthcare industries – one individual employee at a time.
Americans are anxious about rising healthcare costs. In Nationwide’s “Healthcare Costs in Retirement Survey,” (of 1,316 U.S. adults aged 50 or older) 74% admit that one of their top fears is out-of-control healthcare costs, and 64% are terrified of what healthcare costs may do to their retirement plans (up from 57% in 2015). However, there is some reason for optimism. In terms of personal cost, individuals may actually have more control than they think: through positive lifestyle choices and behavior adjustments.