“Most—if not all— employees have short-term financial goals or face financial shocks during their careers.
College graduates want to work on eliminating their student loan debt; a young couple may be saving for a wedding or their first child; a Generation Xer may be saving for a child’s college education or an employee may face a major home repair or a major medical set back.
But, managing short-term and long-term financial goals doesn’t have to be separate, notes a recent report by the Aspen Institute Financial Security Program (Aspen FSP), “Short Term Financial Stability: A Foundation or Security and Well-Being.” “Stability promotes security because financial buffers protect consumers from shocks that would detract from progress toward their long-term goals, act as material foundations for growing assets, and reinforce the financial actions that move people towards broader well-being,” the report says…”
Read the full article from PLANSPONSOR.
