Empower Institute - Wealth & Wellness

Empower’s second annual Empowering America’s Financial Journey provides a window into how Americans are faring with their retirement and financial planning.

Empower collected responses from more than 2,000 Empower retirement plan participants on a number of topics related to their personal financial health.

Almost three-quarters (73%) of people of color say the concept of financial health needs a makeover.

Employees are clear that financial wellness is an important goal — one that they’d like to achieve.

Individuals associate a wide range of non-financial aspects with financial wellness.

Americans strive toward financial independence — having the freedom to spend how they want to.

While many workers remain unclear on the financial benefits an HSA can provide, there is a clear opportunity for employers to offer more essential education.

When gray hair is a fashion trend and work is found on apps, retirement plans need to adjust, too.

Cutting back on jargon and delivering communications where participants want to receive them can help put employees on the right track.

Millennials on track to replace 75 percent of their income in retirement, compared to 64 percent for Americans overall.