Concerns about the adequacy of Social Security and shifts in responsibility from government to citizens and from employers to employees are alerting individuals and families to better manage their finances and prepare for the future. Most Americans now understand that they must assume more responsibility for their present and future financial wellbeing. This report is about the educational resources available to help them. It s all part of our ongoing commitment to prepare the next generation of homeowners. Workplace financial education is the venue for reaching most people.
Rewards can be numerous and mutually beneficial for both employer and employee.
The study suggests that many more employers offer personal finance courses in workplace settings, and support public policy initiatives that offer incentives to those employers who do. The study recommends that financial education for older Americans become a national priority, since the need may be particularly acute in this population. Financial resource management can help older adults budget, plan, avoid scams and other forms of financial abuse, and choose or find alternative sources for health care, home care, medication, and daily money management assistance. In addition, as homeowners, older adults need help understanding the availability and terms of equity conversion vehicles and with budgeting the proceeds of reverse mortgages or other lump-sum payments. More importantly, in under-served populations, these organizations offer hope, motivation and emotional support, which are necessary for learning that leads to feelings of increased opportunity and personal efficacy.