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Improve wellness

Findings from 2021 Lincoln Retirement Power® Study

Good financial health can be the foundation for retirement security and confidence. The effects of COVID-19 underscored the need to
address financial wellness, but a K-shaped economic recovery, in which some gained and some strained, may deepen savings disparities.

a K with a green arrow pointing up representing gainers

Gainers

  • 25% earned more than expected
  • 28% paid off more debt than expected
  • 25% saved more than expected for retirement
  • 29% saved more than expected for things other than retirement
a K with a red arrow pointing down representing strainers

Strainers

  • 26% earned less than expected
  • 26% paid off less debt than expected
  • 25% saved less than expected for retirement
  • 28% saved less than expected for things other than retirement

There’s a significant difference in retirement readiness between those who’ve had a positive recovery and those who may be dealing with the financial impacts for some time.

Ks representing gainers and strainers showing how gainers are much more likely to contribute more than 15% or more to their retirement plan, have plan assets over  500,000, save enough to be on track, and be highly confident about retirement readiness
 

For more information about the K-shaped recovery, including demographics,
view this flier.

 

For some, the pandemic deepened existing financial challenges, again highlighting the need for improved financial wellness.

pie chart representing 72%

72% of participants

say their debt is a problem now vs. 63% in 2019

pie chart representing 34%

33% of participants

spent all or some emergency fund money

pie chart representing 30%

29% of participants

took on significantly more debt

pie chart representing 17%

17% of participants

took a retirement plan loan or withdrawal

They’re looking to you for help. Most employees say it’s more important than ever for employers to help them with their mental, physical, and financial well-being.

The stress effect …

It goes without saying that the past year has been stressful.

square infographic representing 89%

89% of employees

felt stressed over the last 6 months

square infographic representing 60%

60% of employees

say stress negatively affects their ability to manage finances

Stress level also correlates to key retirement outcomes.

  • Highly stressed employees half as likely to be confident about retirement readiness
  • Highly stressed participants 1.5x more likely to save less than needed
  • Low stress participants 2x more likely to have $250K+ saved

It’s not all bad news. Helping stressed employees is effective.

pie chart representing 86%

86% of employees

who use financial wellness resources say they see a positive impact as a result

When employees improve their financial wellness, they’re better able to manage everyday expenses, reduce financial stress, save for retirement and emergencies, and pay off debt.

happy man and woman at work
 
computer screen viewing the Lincoln Financial Wellness page

Improve wellness toolkit

Discover the resources you need to plan, launch, and measure the success of your financial wellness program at LincolnFinancial.com/FinancialWellness.

Already have a program? Use our resources to make it even more effective.

Provide financial wellness education

Here’s an overview of our financial wellness education. Access materials in the Knowledge Center in your account at LincolnFinancial.com/RetirementPlans or contact your Lincoln representative. You’ll find resources like these:

 

Find out more

Read the full report to explore the research and see how you can effectively engage employees after COVID-19.

 

About Lincoln Retirement Power

All data is from the 2021 Lincoln Retirement Power® Study unless otherwise specified.

The 2021 Lincoln Retirement Power® Study is based on a national survey of 2,535 full-time workers who are eligible to contribute to an employer-sponsored retirement plan, including 2,030 participants and 505 non-participants. Greenwald Research, a third party market research firm, conducted the study on behalf of Lincoln Financial Group Retirement Plan Services. Greenwald Research is not associated with Lincoln Financial Group. Online interviewing took place from February 19 to March 18, 2021. Data is weighted by demographics to mirror the total population.

Lincoln Retirement Power® is a platform for research and viewpoints on central issues related to retirement planning. The program seeks to identify forward-thinking ways to help plan sponsors, financial professionals, and participants. As part of the program, Lincoln sponsors both proprietary and third party research, with an emphasis on what drives better retirement outcomes.

GraphicLine

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products, and services.


©2021 Lincoln National Corporation

LCN-3645533-062421
8/21 Z01
Order code: DC-RPINT-IDE001

Improve wellness

Findings from 2021 Lincoln Retirement Power® Study

Good financial health can be the foundation for retirement security and confidence. The effects of COVID-19 underscored the need to address financial wellness, but a K-shaped economic recovery, in which some gained and some strained, may deepen savings disparities.

a K with a green arrow pointing up representing gainers

Gainers

  • 25% earned more than expected
  • 28% paid off more debt than expected
  • 25% saved more than expected for retirement
  • 29% saved more than expected for things other than retirement
a K with a red arrow pointing down representing strainers

Strainers

  • 26% earned less than expected
  • 26% paid off less debt than expected
  • 25% saved less than expected for retirement
  • 28% saved less than expected for things other than retirement

There’s a significant difference in retirement readiness between those who’ve had a positive recovery and those who may be dealing with the financial impacts for some time.

Ks representing gainers and strainers showing how gainers are much more likely to contribute more than 15% or more to their retirement plan, have plan assets over  500,000, save enough to be on track, and be highly confident about retirement readiness
 

For more information about the K-shaped recovery, including demographics, view this flier.

 

For some, the pandemic deepened existing financial challenges, again highlighting the need for improved financial wellness.

pie chart representing 72%

72% of participants

say their debt is a problem now vs. 63% in 2019

pie chart representing 34%

29% of participants

took on significantly more debt

pie chart representing 30%

33% of participants

spent all or some emergency
fund money

pie chart representing 17%

17% of participants

took a retirement plan loan or withdrawal

They’re looking to you for help. Most employees say it’s more important than ever for employers to help them with their mental, physical, and financial well-being.

The stress effect …

It goes without saying that the past year has been stressful.

square infographic representing 89%

89% of employees

felt stressed over the last 6 months

square infographic representing 60%

60% of employees

say stress negatively affects their ability to manage finances

Stress level also correlates to key retirement outcomes.

  • Highly stressed employees half as likely to be confident about retirement readiness
  • Highly stressed participants 1.5x more likely to save less than needed
  • Low stress participants 2x more likely to have $250K+ saved

It’s not all bad news. Helping stressed employees is effective.

pie chart representing 86%

86% of employees

who use financial wellness resources say they see a positive impact as a result

When employees improve their financial wellness, they’re better able to manage everyday expenses, reduce financial stress, save for retirement and emergencies, and pay off debt.

happy man and woman at work
 
computer screen viewing the Lincoln Financial Wellness page

Improve wellness toolkit

Discover the resources you need to plan, launch, and measure the success of your financial wellness program at LincolnFinancial.com/FinancialWellness.

Already have a program? Use our resources to make it even more effective.

Provide financial wellness education

Here’s an overview of our financial wellness education. Access materials in the Knowledge Center in your account at LincolnFinancial.com/RetirementPlans or contact your Lincoln representative. You’ll find resources like these:

 

Find out more

Read the full report to explore the research and see how you can effectively engage employees after COVID-19.

 

About Lincoln Retirement Power

All data is from the 2021 Lincoln Retirement Power® Study unless otherwise specified.

The 2021 Lincoln Retirement Power® Study is based on a national survey of 2,535 full-time workers who are eligible to contribute to an employer-sponsored retirement plan, including 2,030 participants and 505 non-participants. Greenwald Research, a third party market research firm, conducted the study on behalf of Lincoln Financial Group Retirement Plan Services. Greenwald Research is not associated with Lincoln Financial Group. Online interviewing took place from February 19 to March 18, 2021. Data is weighted by demographics to mirror the total population.

Lincoln Retirement Power® is a platform for research and viewpoints on central issues related to retirement planning. The program seeks to identify forward-thinking ways to help plan sponsors, financial professionals, and participants. As part of the program, Lincoln sponsors both proprietary and third party research, with an emphasis on what drives better retirement outcomes.

GraphicLine

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products, and services.


©2021 Lincoln National Corporation

LCN-3645533-062421
8/21 Z01
Order code: DC-RPINT-IDE001

Improve wellness

Findings from 2021 Lincoln Retirement Power® Study

Good financial health can be the foundation for retirement security and confidence. The effects of COVID-19 underscored the need to address financial wellness, but a K-shaped economic recovery, in which some gained and some strained, may deepen savings disparities.

a K with a green arrow pointing up representing gainers

Gainers

  • 25% earned more than expected
  • 28% paid off more debt than expected
  • 25% saved more than expected for retirement
  • 29% saved more than expected for things other than retirement
a K with a red arrow pointing down representing strainers

Strainers

  • 26% earned less than expected
  • 26% paid off less debt than expected
  • 25% saved less than expected for retirement
  • 28% saved less than expected for things other than retirement

There’s a significant difference in retirement readiness between those who’ve had a positive recovery and those who may be dealing with the financial impacts for some time.

Ks representing gainers and strainers showing how gainers are much more likely to contribute more than 15% or more to their retirement plan, have plan assets over  500,000, save enough to be on track, and be highly confident about retirement readiness
 

For more information about the K-shaped recovery, including demographics, view this flier.

 

For some, the pandemic deepened existing financial challenges, again highlighting the need for improved financial wellness.

pie chart representing 72%

72% of participants

say their debt is a problem now vs. 63% in 2019

pie chart representing 34%

33% of participants

spent all or some emergency fund money

pie chart representing 17%

17% of participants

took a retirement plan loan or withdrawal

pie chart representing 30%

29% of participants

took on significantly more debt

They’re looking to you for help. Most employees say it’s more important than ever for employers to help them with their mental, physical, and financial well-being.

The stress effect …

It goes without saying that the past year has been stressful.

square infographic representing 89%

89% of employees

felt stressed over the last 6 months

square infographic representing 60%

60% of employees

say stress negatively affects their ability to manage finances

Stress level also correlates to key retirement outcomes.

  • Highly stressed employees half as likely to be confident about
    retirement readiness
  • Highly stressed participants 1.5x more likely to save less than needed
  • Low stress participants 2x more likely to have $250K+ saved

It’s not all bad news. Helping stressed employees is effective.

pie chart representing 86%

86% of employees

who use financial wellness resources say they see a positive impact as a result

When employees improve their financial wellness, they’re better able to manage everyday expenses, reduce financial stress, save for retirement and emergencies, and pay off debt.

 
computer screen viewing the Lincoln Financial Wellness page

Improve wellness toolkit

Discover the resources you need to plan, launch, and measure the success of your financial wellness program at LincolnFinancial.com/FinancialWellness.

Already have a program? Use our resources to make it even more effective.

Provide financial wellness education

Here’s an overview of our financial wellness education.
Access materials in the Knowledge Center in your account at LincolnFinancial.com/RetirementPlans or contact your Lincoln representative. You’ll find resources like these:

 

Find out more

Read the full report to explore the research and see how you can effectively engage employees after COVID-19.

 

About Lincoln Retirement Power

All data is from the 2021 Lincoln Retirement Power® Study unless otherwise specified.

The 2021 Lincoln Retirement Power® Study is based on a national survey of 2,535 full-time workers who are eligible to contribute to an employer-sponsored retirement plan, including 2,030 participants and 505 non-participants. Greenwald Research, a third party market research firm, conducted the study on behalf of Lincoln Financial Group Retirement Plan Services. Greenwald Research is not associated with Lincoln Financial Group. Online interviewing took place from February 19 to March 18, 2021. Data is weighted by demographics to mirror the total population.

Lincoln Retirement Power® is a platform for research and viewpoints on central issues related to retirement planning. The program seeks to identify forward-thinking ways to help plan sponsors, financial professionals, and participants. As part of the program, Lincoln sponsors both proprietary and third party research, with an emphasis on what drives better retirement outcomes.

GraphicLine

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products, and services.


©2021 Lincoln National Corporation

LCN-3645533-062421
8/21 Z01
Order code: DC-RPINT-IDE001

 
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