Funding their retirement years is perhaps the single biggest financial challenge most Americans face. But it’s not the only challenge. In addition to trying to save for retirement and other long-term goals, individuals also must strive to manage day-to-day finances and protect against key financial risks. It would be ideal for people to work toward all three goals simultaneously.
In the real world, of course, most people don’t have enough money to meet all their financial goals simultaneously and must make ongoing trade-offs that balance their needs and resources. To address these goals, we bring together PGIM’s retirement income pillars, investment capabilities, and financial wellness expertise.
*About the census Prudential launched the Financial Wellness Census in 2018 to capture and analyze the financial experience of Americans, including their objective financial health—what they earn, own and owe—as well as their subjective sense of their own financial well-being. In each wave, we surveyed more than 3,000 U.S. adults representing three generations—millennials, Generation X and baby boomers—in October 2017, December 2019, and again in May 2020 in the throes of the COVID-19 pandemic.
PGIM RETIREWELL FRAMEWORK FOR INDIVIDUALS
- Build a Strong Foundation
- Protect Against Income and Expense Shocks
- Plan for Your Future
- Secure your Future
- Enjoy your Retirement
- Create a budget
- Pay bills regularly and maintain a good credit history
- Create a will
You should consult with your attorney, accountant, and/or tax professional for advice concerning your particular situation.
With the goal of helping American workers achieve their short-term and long-term goals, we offer a step-by-step framework that individuals can follow as they decide how to best manage their finances today while also planning for their future. Embedded in the framework are links to provide a few examples of the holistic educational content that is available to help individuals embark on each step and increase their overall financial literacy.
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