Employees are more likely to rate themselves as physically healthy than financially healthy. And while 57 percent of employees rate themselves physically healthy, 28 percent rate themselves financially healthy.
Principal Financial discloses this finding in its first 2014 Financial Well Being Index. Conducted by Harris Interactive, the research is based on an online poll of 1,123 employees ages 18 and older who work at small and mid-sized (SBM) U.S. businesses (firm size: 10 – 1,000 employees).
The survey reports that 84 percent of employees believe that being physically healthy is an investment in their financial future, and 77 percent believe that by spending money on their physical health now, they will avoid major expenditures later in life.
Additionally, 46 percent of employees feel stressed about their current financial situation while 35 percent of baby boomers say they feel stressed about their current financial situation compared to 51 percent of Gen Yers.
Employees who work with a financial professional (33 percent) are less likely to feel stressed about their current financial situation than those who do not work with a financial professional (51 percent), the report adds.