MOST U.S. WORKERS LIVE PAYCHECK-TO-PAYCHECK-- Fear Factor High

[papau]

MOST U.S. WORKERS LIVE PAYCHECK-TO-PAYCHECK-- Fear Factor High

NEW YORK, November 17, 2003 -- More than half of employees (52%) surveyed say they manage their finances by living paycheck-to-paycheck, according to MetLife's 2003 Employee Benefits Trend Study released today. Not surprisingly, more 21- to 30-year-olds (59%) than 41- to 50-year-olds (52%) live paycheck-to-paycheck. More than half (51%) of those nearing or at the traditional retirement age, 61 to 69, depend on each paycheck. Among those with children under 18, more than half (57%) rely on their paycheck to manage finances -- leaving little room for college savings or planning for retirement. Even among employees earning $75,000 or more annually, more than 34% live paycheck-to-paycheck.

Due in large part to this heavy dependence on work income, more than two-thirds (69%) of employees are extremely or very concerned about making ends meet. The percentage rises to 74% for female employees. <snip>

only 30% of employees are confident or very confident in their ability to make the right financial decisions for themselves and their families. This percentage remains fairly consistent across all salary and education levels of respondents.
· Health insurance ranks highest on the list of concerns for employees (76%), followed by job security (71%).
· When asked about financial security for their family in the event of a disability or serious illness that prevents them from working, 53% are concerned, yet almost the same percentage (50%) have done no specific planning for it.
· Nearly half of respondents (49%) are also concerned about financial security for their family in the event of their premature death or their spouse’s/partner’s death, but only 45% have planned for it.

The MetLife Employee Benefits Trend Study was conducted during the third quarter of 2003 and consisted of two distinct surveys. The employee survey polled 728 full-time employees, age 21 and older, at companies with at least two employees. A total of 1,548 HR/Benefits executives from companies with at least two employees participated in the employer survey. Both surveys were fielded during September and conducted by NFO World Group via a Web-based survey methodology. - -this press release issued 11/17.

[Tempest]

1. Link?

Thanks.

[papau]

3. It is a PR release by the MET from 11-17

The news wire that carries the corporate PR releases can be linked to via Buzzflash's links at the bottom of his page.

Getting a 4 day old one may be a bit difficult - or it may be easy - I do not know.

This came to me via email.

[no name no slogan]

2. That's me

amazing what starting an unsucessful small business will do to your finances. I'm still paying that sucker off and it died three years ago.