4 posts categorized "Jon Lynch" Feed

New AICPA survey reveals clients’ top retirement fears

Shutterstock_583696213A variety of factors and special situations make each individual’s retirement preparations unique. And because of that, there is no one-size-fits-all retirement plan to maximize enjoyment during your golden years. However, when it comes to retirement planning fears, people have more in common than they might think. The AICPA’s recent Personal Financial Planning Trends Survey explored what factors are impacting clients’ retirement planning peace of mind. When compared to benchmark responses from 2016, we’re able to see how some things have changed while others have held steady.

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Americans want employers to show them the benefits

Shutterstock_648969952Today, the perfect job is about more than the money. Americans want employers to show them the benefits. New original research conducted by The Harris Poll for the American Institute of CPAs (AICPA) found that Americans value having a job with benefits more than one with a higher salary. Neal Stern, CPA and member of the AICPA’s National CPA Financial Literacy Commission, spoke to AICPA Insights about the survey results and shared what you should keep in mind with respect to your own workplace benefits.

According to the survey, Americans are four times as likely to choose a job with benefits over an identical job that offered 30 percent more salary but no benefits. What’s your reaction to this?

Neal Stern: I find it encouraging that so many Americans recognize the value workplace benefits bring to an overall financial plan. Some benefits, like health insurance, protect you from exposure to tremendous expenses that could seriously derail your financial wellness. These benefits often come at a lower cost than what it would take to buy the coverage on your own. This is largely because of employer subsidies and possibly more favorable pricing through a group, which leaves you more breathing room in your monthly budget. Looking beyond the financial benefit of a broad benefits package, it’s hard to over-estimate the value of peace of mind you get from being free of the worry of catastrophic expenses from an accident or illness.

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Americans’ financial satisfaction reaches new high—can you feel it?

Shutterstock_1071491411For the fifth quarter in a row, the typical American’s personal financial satisfaction reached an all-time high, according to the AICPA’s Personal Financial Satisfaction Index (PFSi). A record number of job openings, along with the stock market’s bullish performance though Q3 (Oct 1) - despite volatility - boosted Americans’ financial positions. With all these positive records, you may be wondering what it means for you.

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Don’t risk it: Get familiar with investment strategy

Shutterstock_723294832There are many ways to invest your hard-earned money, but the goal is always the same: to grow your wealth. But a recent survey conducted by Harris Poll on behalf of the AICPA found that many Americans are embracing high-risk strategies that put their savings in jeopardy while doing minimal, if any, financial research upfront.

David Almonte, CPA, member of the AICPA’s National CPA Financial Literacy Commission, spoke to AICPA Insights about the survey results and what Americans should know about investing strategy.

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