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Secrets to Her Success: Fidelity® and WW Reveal Keys to Conquering Women's Two Biggest Stressors, Managing Finances & Healthy LivingWomen across all age groups and income levels share a seemingly universal challenge - high levels of stress, according to new research from Fidelity Investments®. Two leading culprits: their finances (85%) and efforts to live healthier (65%), defined as managing diet, exercise and sleep habits1. While six out of 10 report feeling highly stressed about both2, analysis shows that implementing a few key fundamentals can be a game changer in reducing stress. Left unaddressed, however, this stress can wreak havoc on overall health and financial wellness, holding women back from living the lives they deserve. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190626005098/en/ Here's how your money might have grown over five years in an average market (Graphic: Business Wire) To help women alleviate these stressors, Fidelity and WW (formerly Weight Watchers) teamed up to create a new video series titled, Demand More from Your Money and Health, hosted by CBS This Morning (CTM (News - Alert)) anchor, Gayle King, and featuring Mindy Grossman, president and CEO of WW, and Kathleen Murphy, president of personal investing at Fidelity. The series is available on Fidelity.com/DemandMore, and features a candid, personal discussion about the struggles they've faced, challenges they've overcome and, most importantly, actionable tips for women of all ages to help reduce stress and empower them to take steps to improve their own financial and physical wellness to live happier, healthier, fuller lives. Three Secrets to Success from Women Who Live Financially Stress Free Within the series, Murphy calls out the fundamentals followed by women who do not feel stress about their finances:
"Building a financial plan doesn't mean you have to become an expert in the stock market," said Murphy. "Think about a financial plan as a step-by-step road map that helps you identify your goals and how you're going to reach them. Women should ask themselves what long- and short-term goals they have. For example, buying a home, or funding a child's college education? Then it's determining how much you need to save each month and making sure your savings are invested according to when the money is needed and comfort level with stock market fluctuations, to help ensure those goals are reached. There are many online resources to help, or Fidelity financial consultants are available 24/7 to talk to, free of charge." Unchecked Financial Stress Can Have a Harsh Impact on Personal Goals, Physical Wellness Among working women feeling financial stress, one-in-four say they spend more than 10 hours each week worrying about their finances5. More critical than lost time, this stress can lead to feelings of depression (65%) and for many it holds them back from taking steps towards their financial goals (53%)6. "The combination of stress and the inclination of so many women to put everyone else's needs before their own has the power to overwhelm and, ultimately, hold women back from making important financial decisions that can impact their futures," said Murphy. "Our research shows that adopting these key financial building blocks can have a great impact on reducing financial stress and even improving your health." Added incentive to start addressing financial stress now: it may help protect from health issues in the future. Today, 70% of working women affected by financial stress also struggle with managing their diet and exercise and are nearly one third more likely to become overweight7. Success Begets Success: Small, Measured Steps Can Help Reach Health and Money Goals "Working toward goals with your health isn't so different from working toward goals with your finances," said Grossman. "You start by defining your 'why.' What is driving you to make a change and invest in yourself? Once you know your purpose, our program aims to help build wholly sustainable habits that you can stick with and will enable you to thrive." When making healthy living choices, WW shares the success factors that help their members create a plan and stay on track:
87% of Working Women Say They'd Feel More Confident About Their Future if They Were Investing Once fundaments are in place, including establishing an adequate emergency fund, funding retirement and building a plan, additional steps can help women feel more confident that their savings are working as hard as they do, and that they are as financially prepared as possible for both planned and unplanned life events, which can often amplify stress dramatically. Today many women thrive as the CFOs of their households, confidently managing day-to-day finances and making large purchases (e.g., buying new homes, cars). But while women continue to show their strength as consistent savers, many still aren't taking that next step to invest, to take advantage of potential growth to reach their goals faster. Eighty-seven percent of working women say they would feel more confident about their future if they were investing more of their savings. But more than half (52%) of those weighed down by financial stress report it holds them back from getting started. To highlight this opportunity, consider these hypothetical examples9 for a shorter-term goal, looking at how $5,000, $20,000 and $50,000 might have grown if invested over five years in an average market: Whether it's a financial or weight-loss goal, the first step to getting started is often the hardest. Fortunately, there are resources for every life stage and event to help women navigate getting started, building wealth, and ensuring their money is working as hard as they do to reach their goals. Fidelity also offers check lists to help women address life events and make those transitional moments less stressful, including:
For more on taking steps to reduce stress and improve financial and physical wellness, tune in to the Demand More of Your Money and Health video series, available at Fidelity.com/DemandMore, where interactive tools, calculators and other resources to help take next steps with planning and investing are also available. Fidelity Viewpoints: 3 Secrets for Women to Conquer Money Stress shares additional tips and resources. For those who want more hands-on help, Fidelity representatives are available at no cost to answer questions 24/7 at 1-800-FIDELITY, or online at Fidelity.com.
About Fidelity Investments
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Fidelity, Fidelity Investments, Fidelity Investments and the pyramid logo are registered service marks of FMR LLC. CBS News, WW (formerly known as Weight Watchers), and Fidelity Investments are independent entities and are not legally affiliated. The third party trademarks appearing herein are the property of their respective owners. Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money. Diversification and asset allocation do not ensure a profit or guarantee against loss.
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1 Unless otherwise noted, data represents the Fidelity Investments Total Well-Being Research online survey of 5,062 active Fidelity 401(k) and 403(b) women participants from across the United States. The survey was conducted by Greenwald and Associates, an independent third-party research firm, on behalf of Fidelity in September 2017. Certain demographic and behavioral data such as income, savings rates, and guidance interactions are from Fidelity Investments' recordkeeping system as of December 31, 2018.
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