Imagine that the water heater breaks in your house, or that your car won't start in the morning when you try to drive to work. Do you know how you'd pay for such an unexpected expense? Believe it or not, a majority of Americans can't answer that question with a "yes." According to a recent survey we conducted at SecureSave involving more than 1,000 respondents, 67 percent of Americans have no way to cover a $400 emergency.

This is a big deal for employers because it has ripple effects not only impacting employees' long-term retirement savings, but also their ability to be productive at work: Thirty percent of survey respondents spend one to two hours every day worrying about money, and 75 percent say that this financial stress is hampering their work productivity.

Why are so many Americans experiencing this financial stress? Persistent inflation and rising costs of living are one big factor: Consumer prices rose 6.5 percent year-over-year between 2022 and 2023, and 65 percent of Americans surveyed said that inflation was the variable with the biggest impact on their finances.