4139 W. Walton Blvd, Waterford, MI, 48329 info@cygnetinstitute.org (248) 330-7074

The Issue

People have problems with money
  • The 2019 Retirement Study from GoBankingRates.com found that 64 percent of American workers are expected to retire with less than $10,000 in their retirement savings accounts.
  • Research from the National Institute on Retirement Security found that 66 percent of millennials don’t have any money put away for their golden years.
  • Nearly 6 out of 10 Americans say they live paycheck to paycheck, as reported by the 2019 Wealth Index Survey by Charles Schwab.
  • According to a 2016 study conducted by NORC Center for Public Affairs Research, two-thirds of Americans would have trouble getting together enough money to cover a $1,000 emergency.
Money problems impact personal life
  • The 2018 Planning & Progress Study by Northwestern Mutual found that 44 percent of respondents cite money matters as the dominant source of stress in their lives.
  • A 2020 survey from Bankrate found that 48 percent of U.S. adults report losing sleep over a financial issue at least occasionally.
  • A survey of 2,000 American homeowners from 72Point and the National Association of Realtors found that 52 percent of people surveyed are routinely concerned about making their mortgage payments.
  • Disagreements over money are the number one issue couples say they argue about and the second-leading cause of divorce, behind infidelity, according to a 2018 survey by Ramsey Solutions.
Money problems impact work life
  • Four out of five employers say their employees’ personal financial issues are impacting job performance, according to a survey by the International Foundation of Employee Benefit Plans.
  • Financial stress results in approximately 11–14 percent of annual payroll costs in lost productivity and increased turnover, according to The Employer’s Guide to Financial Wellness.
  • In total, American businesses are losing $500 billion per year due to employees’ personal financial stress, according to a survey of more than 10,000 Americans by Salary Finance.