Harris, Rothenberg Report Shows Increase in Demand for Employee Assistance Programs

A yearly report issued by HRI, this year's trends report differs from those of the past in one critical area: a focus on the economy and personal finance.

Calls to EAPs in the past year have increased in intensity and need. In 2008, HRI witnessed a nearly 10 percent increase in the number of calls coming into EAP counselors. HRI experienced a 13 percent increase in the number of calls for financial services in the past year. Statistics show that there have been increases in 401(k) hardship withdrawals in 2008. See HRI Press Release.

Vanguard Estimates Date 401k Participants Will Recover Money Lost Since Market Peak of 2007.

Vanguard Retirement Research tries to answer the question, how long will it take for 401k plan participants to make back the money they lost? Their answer: about two years. Why? It's not just market recovery - it's because of continued contributions. In other words, buy low! See Vanguard's research report.
Richard Victor, CFP Richard Victor, CFP® is the lead educator for Financial Interactions, LLC and author of The Ultimate Guide to Online Investing: A Stockbroker Tells Everything You Need to Know as well as investor education programs designed around finding and using the best websites for investing.

Richard's career began as a stockbroker with Charles Schwab & Co. in 1993, just before the online investing phenomenon took off. To meet the education needs of people new to online investing, Richard developed and taught a workshop at Scottsdale Community College, which became the subject of his first book, based on his experience with thousands of clients.

Richard began conducting 401(k) enrollment meetings as a contract trainer on behalf of several major financial institutions, traveling around the country to facilitate financial education programs at the workplace, meeting with employees of client companies. After representing five different plan administrators, Richard became keenly aware that the education they provide was little more than an introduction, designed primarily to convince employees to participate the the retirement plan. What was missing was the in-depth knowledge needed to be effective throughout one's career, knowledge that is essential for long-term success.

Companies and organization who continue to benefit from Richard's financial training programs include:

  • Community Kitchen/St Mary's Food Bank
  • Fresh Start Women's Foundation
  • Glendale Public Library
  • Lee Hecht Harrison
  • Maricopa County Community Colleges
  • Tempe Public Library
  • Valley of the Sun YMCAs
Richard has a B.A. in English from Arizona State University, and earned his Certified Financial Planner designation in July, 2000.

Contact Richard by phone at 480-273-0034
or email richard@401kseminar.com

The Best Websites for Investing: Richard's Free Email Newsletter Email:  
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