Though many workplaces make financial and retirement benefits available today, workers say saving for retirement is still unaffordable. A recent survey found that mid-to-late career employees ages 45 through 65 were highly concerned about their retirement income and how they would manage those funds once they left the workforce. And rather than acting to improve their financial position themselves, many said they look to their employer to help them achieve fiscal security.

Retirement income planning is difficult to navigate

Survey respondents agreed that retirement planning is complex due to unknown factors. Such variables include life expectancies, health care costs, future taxes and investment returns, the economy, and the viability of Social Security and Medicare. Despite these uncertainties, it’s essential that employees at mid-career and beyond get financially focused during the pivotal saving years prior to retirement.

Retirement income planning is difficult to navigate

Workers want financial wellness services and education

Financial wellness services that break down the complexity of retirement income planning can help employees consider future needs and set attainable goals. Our study found that workers are most interested in:

  • Personalized investment advice
  • Help developing strategies to save more
  • Post-retirement education
  • Expense management tools
  • Education to improve investment decisions

For more information on how you can help employees achieve financial stability both today and in retirement, download ADP’s guide on the Financial Realities of Mid-To-Late Career Workers.


ADP Editorial Team

ADP Editorial Team The ADP editorial team is comprised of human resource professionals with extensive experience solving complex HR challenges for businesses of all sizes.