Michael Patton Advising: A Financial Wellness Plan Can Help Pave the Road to Retirement

EYT Media

exploreClarion

Published April 15, 2021 4:26 am
Image

CLARION, Pa. (EYT) — Michael Patton, of Patton Financial Advising, submitted the following article: A Financial Wellness Plan Can Help Pave the Road to Retirement.

If we’ve learned any lesson over the past year, it’s that no matter how carefully we plan and prepare, we’ll likely encounter unexpected hurdles. While a global pandemic has certainly underscored the need to pay close attention to our physical wellness, it has also revealed the need to shore up our financial wellness.

According to PwC’s 9th Annual Financial Wellness Survey conducted in January 2020, financial matters were the top cause of stress for employees even well before the pandemic hit in earnest. More than one-third of full-time employed millennials, Gen Xers, and baby boomers had less than $1,000 in emergency savings. Only 29% of women said they would be able to cover their basic necessities if they found themselves out of work for an extended period, compared with 55% of men. And more than half of millennials and Gen Xers and 35% of baby boomers said they would likely use their retirement funds for something other than retirement, with most noting it would be for an unexpected expense or medical bills.(1)

READ MORE HERE

Patton Financial Advising
51 N. 4th Avenue
Clarion, PA 16214
814-226-9400

Toll-free 1-877-547-2751

Visit website: www.pattonadvising.com

Securities offered through Cetera Financial Specialists LLC, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC. Cetera entities are under separate ownership fhttps://www.exploreclarion.com/?p=353744rom any other entity.

Recent Articles

Community Partner