Difference between investment Banking and Wealth management
Retirement plan participants are increasingly worried about their financial situation. According to Bank of America Merrill Lynch’s 2016 Workplace Benefits Report, which surveyed 1, 200 employees with 401(k) plans, six in 10 reported feeling stressed about their finances, up from half in 2013. Three-quarters said they don’t feel financially secure and more than half said they need help understanding how financial benefits work for them. Meanwhile, 83 percent say the workplace’s benefit plans are critical to financial security. The study also found that most workers are underestimating how much they need to save for retirement, and that health care costs tend to be the greatest barrier.
Former Schwab Exec Joins Betterment Board