Two-fifths (42 per cent) of U.S. workers say they’re highly stressed due to their financial health, up from 35 per cent in 2022, according to a new survey by the Harris Poll on behalf of Franklin Templeton.
The survey, which polled more than 1,000 employees, found two-thirds (66 per cent) of respondents said they’re experiencing negative impacts from the current economic environment, including lost sleep (30 per cent), strained relationships (25 per cent) and distraction while at work (22 per cent).
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Two-thirds (66 per cent) said they’ll likely stay with their current employer due to the economic climate and 89 per cent of these workers said they plan to continue in their current role for the next year. Almost half (47 per cent) said they know a colleague who got their old job back after leaving in the last five years.
Despite concerns about retirement preparedness and job security, the majority (81 per cent) of workers reported their primary financial goal is financial independence or having enough income or wealth to pay their living expenses without having to be employed or dependent on others.
Nearly three-quarters (73 per cent) of employees said rising living expenses have changed the way they envisioned their retirement and 61 per cent said their retirement plans are in jeopardy. More than half (58 per cent) of respondents said they plan to work in some capacity during retirement, up from 52 per cent in 2021.
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