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Retirement 101
Daniel Hanzelka Lifestyle Security By Design
300 John St. Suite 201
Thornhill, ON
L3T 5W4
Office: 416-875-1505 Fax: 416-875-1504
Email: [email protected] web: www.danielhanzelka.com
PRESENTATION OVERVIEW
Current Financial Condition of Today's Worker and How it is Impacting the Loss of Productivity
The Benefit of Financial Education Programs
Overview of Retirement 101
# 1 cause of stress in the
work place is personal
finances
1 in 4 workers report they
are seriously financially
distressed and dissatisfied
with their personal finances
30% are failing financially!
FINANCIALLY UNHEALTHY EMPLOYEES
EMPLOYEE PERSONAL FINANCES
80% of today’s workers are financially stressed and are spending time at their job and dealing with or worrying about money issues
How much time? 12-20 hours per month
84% say they have fewer savings and larger debt than last year
60% have trouble making ends meet
Sources: Bagwell & Kim, Sorhaindo & Garman (1999, 2000, 2003) Details can be provided
Research has shown that health & personal finances are correlated
40% - 50% of financially distressed employees report that financial problems caused their health issues
HEALTH & PERSONAL FINANCES
Sources: Bagwell & Kim, Sorhaindo & Garman (1999, 2000, 2003) Details can be provided
EMPLOYER BOTTOM LINE
“Employees with money problems are like sharks
swimming around the workplace taking bites out
of the bottom line”
“Every time an employee brings their money worries
to work, the productivity drops”
Lower financial distress &
increased financial well-
being
Better health
Stronger retirement
preparation & improved
family relationships
Gains in job performance
RESULTS FROM EDUCATION PROGRAMS
Workplace educational
programs discussing
financial and non-financial
issues rescue employees
and employers
BOTTOM LINE
Components
Consists of 4 x 2 hour
sessions held once a week
Bring spouse/partner
Conducted in classroom
setting, opportunity to ask
questions and engage in
meaningful discussion
RETIREMENT 101 PROGRAM
WHAT ARE THE BENEFITS FOR THE HR TEAM?
Increases participation in HR initiative, such as the company savings plan or the group Registered Retirement Savings Plan (RRSP)
Saves valuable counselling time for the team, which may not have the time, knowledge or resources to support appropriate solutions or recommendations
Fosters positive employee-employer relations
Offers an educational opportunity for employees to understand retirement needs and the company benefits program
Encourages employees to think, plan and set retirement objectives
Identifies Retirement Income variables and indicates adjustments that will improve their personal situation
Addresses the elements of
estate planning, powers of
attorney, wills, life insurance,
and taxation
WHAT ARE THE BENEFITS FOR EMPLOYEES?
Personal Financial Wellness Analysis
Daniel Hanzelka Lifestyle Security By Design
300 John St. Suite 201
Thornhill, ON
L3T 5W4
Office: 416-875-1505 Fax: 416-875-1504
Email: [email protected] web:www.danielhanzelka.com
