Meet Meg

Younger millenial starts on a solid path

Employee

Meg is a 26-year-old, tech-savvy web designer who is navigating the tough transition from student to working adult, with her first "real job" after grad school.

Meg has a pretty good head on her shoulders when it comes to finances. But she's still facing some student loan debt that will take a cut out of her new paycheck. Her family and friends have provided financial guidance. However, now she's wondering if she might need some professional advice to get on the right path from the beginning. But where do you find someone? And what would that cost?

Challenge

Meg has never put together a formal budget to guide her spending, and she's looking for planning tools and resources to fill in the gaps. Another "first" for Meg is weighing all the employee benefits her new company offers. Open enrollment is coming up, with a full suite of insurance benefits to consider. But that just makes it more confusing.

She has a history of cancer in her family, so should she look at benefits like critical illness or life insurance - even at her young age? What about disability insurance? She's not likely to get hurt...is she? And of course, her parents are telling her now's the time to start saving for retirement. What's the right strategy?

 

97% of full-time employees believe workplace financial wellness programs are important or nice to have.
Lincoln Financial, COVID-19 study, 2020

   

Solution

When Meg looked at her company’s benefit offerings, she found help from Lincoln's WellnessPATH®, a financial wellness tool her company offers:

  • First, she took a short quiz to get a wellness score and a better view of her financial situation. She used that information to set personal goals and create to-do's, including establishing a monthly budget.
  • She then used the life insurance calculator to figure out how much insurance she needs, and got information about payroll deduction. 
  • Meg also dove into the robust resource library in WellnessPATH® for insights on saving for retirement, paying off student debt and more. She's even gained enough financial know-how to advise her friends.

   

“I’ve taken some great first steps that got me started on the right foot financially, and now I’m helping my friends do the same.”