When Janet lost her job in retail during the pandemic, her already precarious financial situation became more dire. Even though she's now back at work, she's struggling to replenish the savings she used to get her through a year and a half of unemployment, especially in light of rising prices for everything from food to gas to rent.
Janet has less than $50,000 in her 401k, and her Social Security won't be enough to cover her expenses. Her job is physically demanding and she's exhausted, but Janet sees no end in sight.
Janet is afraid she can never retire.
In the fifth and final podcast of this five-part series, Voya Financial's Jessica Tuman, Vice President of Voya Cares and the organization's Environment, Social and Governance Centers of Excellence, and Jerry Hulick, Principal at Caring Consulting Group, discuss the results of the
Here's just some of what you'll learn:
- How many employees make up this group and the circumstances that force them to continue to work
- What employers can do to help financially vulnerable older employees plan so that they may eventually retire
- How to create an action plan to give employees like Janet hope for the future
Want to learn if you're a "Need to Work" employment extender or one of the other three types?
Jerry Hulick and Caring Consulting Group are unaffiliated with the Voya® family of companies.
This material is provided by Voya for general and educational purposes only; it is not intended to provide legal, tax, or investment advice. All investments are subject to risk. Please consult an independent tax, legal, or financial professional for specific advice about your individual situation.