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Clarity, security, and the comfort of knowing your life is on track – these emotions are essential to good mental health. But when it comes to personal finances, Americans are finding these feelings to be increasingly elusive.  A survey by the American Psychological Association found that money is the leading cause of stress among Americans, and it’s getting worse.  

2020 made many Americans face harsh realities involving their finances. Due to the pandemic, many experienced the whiplash of the stock market’s drops and booms, the risk of job or income loss, or the possibility of increased medical expenses. In fact, according to a survey by John Hancock, over 67% of participants reported feeling financially stressed from the impact of COVID-19. 

These collective stressors are just another thing on the seemingly endless list of financial questions we ask ourselves on a regular basis: 

  • Am I saving enough? 
  • Are my investments too risky?  Too conservative? 
  • How will I know when I can safely retire? 
  • What opportunities am I not taking advantage of? 
  • What are the risks that can blow up my life plan? 
  • How can I benefit my children or grandchildren? 

And we know what financial stress does for both individuals and businesses. Stress leads to health implications; health implications lead to missed work; missed work impacts company’s bottom lines. Financial wellness is one way many companies are supporting their employees’ financial stress. According to Bank of America’s Workplace Benefit Reportover 80% of employers believe that financial wellness tools lead to greater employer productivity. But without a proper guide, many decisions may be left up to the employee to make on their own. 

Think about it this way, it’s like stepping into an aircraft cockpit with no pilot training. You know the aircraft can get you where you want to go, but without the training, it’s just an overwhelming display of levers and gauges. There are two paths you can choose: either go through the rigorous training to become a pilot yourself, or like most of us, take the faster and much more cost-effective path of letting a professional pilot safely deliver you to your destination. 

A trusted financial advisor is much like a pilot helping you navigate to your next destination. Specifically, CERTIFIED FINANCIAL PLANNING PROFESSIONALS™ carry extensive training across all major areas of personal finance – cash flow, taxes, investments, retirement planning, college planning, estate planning and risk management. Many companies are now partnering with CFP® Professionals and financial advisors to help provide their employees, and themselves, with solutions to their personal financial situations – and handing over the wheel to the trained financial pilots.  


Have questions about your company’s financial wellness? Click here to schedule your financial wellness consultation.