Member Success Story: A Benefit Worth Trying

a silver stopwatch resting against stacks of gold coins

20% of employees agree that planning and saving for retirement is tough stuff,1 and Sasha was part of that stat.  She had extreme difficulty staying engaged in her employer’s programs, and saving money in general.  All of that changed, though, when Sasha entered the MSA Financial Wellness program.

When members start MSA, we measure their financial wellness, and measure it again later down the road.  Sasha initially scored 2.5 out of 10, indicating major financial distress.  She was immediately paired with a Money Coach to address her financial concerns.  The results she saw on her next score were jaw dropping.

Before even focusing on savings or retirement, Sasha’s Money Coach, Lisa, helped her get on track with a budget and establish a plan to eliminate her $5k in credit card debt.  Debt can be a real drag, and Sasha had this to say about working with Lisa: “I have benefited so much from working with my [Money Coach]….  It’s relieved a lot of stress for me.  I was able to get my credit cards paid off – such a relief.”

Now equipped with a support system and accountability partner, Sasha was able to start saving and stick with it.  Before MSA, she had $0 in emergency savings.  Now she has over a $2,000 and continues to add $400 each month.  Next, she and her coach looked at future goals.

With three years left until retirement and little to no savings, Sasha was extremely worried about needing a job in retirement, which sounds a little silly and, in reality, quite frustrating considering that retirement should be your permanent vacation from work.  Coach Lisa helped Sasha create an action plan to combat that issue.  As a result, Sasha has confidence in her financial future:  “I plan to retire in three years.  This program has given me confidence that I’ll go into retirement in good financial shape, and be financially comfortable.  Being accountable to my [Money Coach] has been very helpful to me….  She is so good at encouraging me, and helping me to not get discouraged if I fall back a bit.”

Sasha went on to say, “I’m on track for a decent retirement, and won’t have to worry about debt.  I’m fortunate that I won’t need a retirement job, partly due to a great pension and partly due to being in this program.”

Sasha was very open about her lack of interest in other work programs, and shared that the MSA Financial Wellness program stood above the rest as a helpful benefit worth her time.  “I’ve been in programs before, but never stuck with it.  This one I’ve been with for a couple years or so now, and plan to keep on.”  Not only did Sasha “highly recommend this program, and this company,” she was immensely grateful to her own company for providing it.  She said, “I’m SO glad our HR dept. offered this as a benefit to us, and that I got up the nerve to try it.”

Through the MSA program, Sasha improved her health, her finances, and her future.  The financial well-being survey showed Sasha’s incredible progress:  she increased her financial wellness score by 260%!

MSA provided the motivation Sasha needed to persevere, the key to better finances, and the guidance necessary for securing her future.  Learn how you can succeed just like Sasha by calling 888-724-2326.

The Snapshot of Success
a table showing the impact on finances before and after working with a money coach: 2.5 financial well-being score versus 9 (That's a 260% increase!); $0 in emergency savings versus $2,100; unsure if financially possible to retire versus ready to retire in 3 years; 0 consultations with a money coach versus 85 and counting; little to no engagement in employee benefits versus 48 months' engaged activity

 

1The Principal Financial Well Being Index: American Workers.  Des Moines, IA: Principal Financial Group, 2013.  PDF.