You probably do not think about your financial wellness in the same way you think about your healthcare. Most people do not, but there are plenty of good reasons why you should. The holistic approach you employ to achieve a higher standard of physical and mental well-being are similar to that you might apply to your financial wellness.
In much the same knowing how preventative healthcare can enhance traditional medicine, understanding the entire financial spectrum will benefit your overall financial health. Unfortunately, there are still many 401(k) participants that do not feel that they have strong enough financial knowledge to make informed decisions regarding their plans.
The good news is employers are increasingly utilizing new and improved communication systems and technologies, in tandem with traditional communications and enrollment meetings, to help employees work toward their retirement goals. These financial wellness programs typically deal with considerations beyond retirement, like saving for a new home, college education, emergency, and help plan participants make adjustments that free up funds for important and fulfilling objectives.
Here are a few ways this 401(k) wellness approach can be important to you:
- Financial well-being In the same way that you make daily life changes to contribute to your health well-being, these changes can be made to your financial wellness in order to benefit you during retirement.
- Less stress Learning more about the ways that a 401(k) can benefit you in the future will help you to have less stress once you are able to retire. The money that you worked to save will give you peace of mind in the future.
- Your financial health is more than a trend Saving money for your future self is more than just a decision you make today. You do not stop growing the balance of what you put into your 401(k) even after you retire.
- Financial AND non-financial benefits Every day that you get to be off work, fishing, gardening, traveling, or spending time with your family will all be benefits that your 401(k) can provide you. You do not just get financial peace, you also get financial freedom.
Put into practice, healthier financial wellness should mean you will have more money tucked away for your golden years.
There is a wealth of advice available to you on how to start and manage all of this. Check out Shelton Capital’s library of 401(k) Educational Videos to help you make good choices and stay on a good retirement track.
Here’s to your success!