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47% of Americans feel financially well, Bank of America survey reveals

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May 23, 2024

The amount of American workers who feel financially well increased from 42% to 47% according to Bank of America's 14th annual Workplace Benefits Report. In addition, the number of employees who worry about economic uncertainty impacting retirement went from 63% in 2023 to 53% this year, according to a press release.

Addition findings include:

• 53% of men report feeling good financially, compared to 36% of women.
• 62% of employees are limiting expenses.
• 70% of employees plan to keep their jobs for the next year.
• 33% of workers are prioritizing retirement savings.

"Despite concerns about the cost of living and plans to limit expenses, more employees are feeling confident about their financial well-being," Lorna Sabbia, head of workplace benefits at Bank of America, said in the release. "However, there is still work to be done to address gender equity, as women continue to report much lower financial wellness scores than men."