Healthcare Provider Update: Partners with Virta Health for diabetes care and offers medical, dental, vision, mental health, and preventive care at no cost 5. ACA planning is advised for retirees and dependents. Click here to learn more
In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002.(1) As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits you can enjoy after you retire from Anywhere Real Estate.
1. Mental Benefits
Working during your Anywhere Real Estate retirement can help maintain mental agility as you learn new skills. Staying engaged in work helps build 'mental muscle,' which can lessen the risk of developing dementia and Alzheimers(2) and ward off the signs of aging.
2.. Physical Benefits
Staying active during your Anywhere Real Estate retirement years is crucial for continued health. Whether you choose to work full-time or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.
3. Financial Benefits
Besides the obvious extra income, working during your Anywhere Real Estate retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security, your benefits can increase by an average of 8 percent annually.(3) Finding a strategy that works for you can truly pay off.
4. Emotional Benefits
Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your years or retirement from Anywhere Real Estate.
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- 401K, Social Security, Pension – How to Maximize Your Options
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- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
5. Social Benefits
One of the risks associated with retirement is increased isolation, which in terms of its impact on your health, has been equated with smoking nearly a pack of cigarettes a day.5 Working with others reduces this risk, giving you a chance to build connections and enjoy meaningful interactions.
Sources
1. AARP.org, February/March 2015
2. Forbes, 2017
3. Social Security Administration, 2017
4. Association for Psychological Science, 2017
What type of 401(k) plan does Anywhere Real Estate offer to its employees?
Anywhere Real Estate offers a traditional 401(k) plan that allows employees to save for retirement on a tax-deferred basis.
Does Anywhere Real Estate provide a matching contribution for its 401(k) plan?
Yes, Anywhere Real Estate provides a matching contribution to employee 401(k) accounts, which helps employees maximize their retirement savings.
What is the eligibility requirement for employees to participate in the Anywhere Real Estate 401(k) plan?
Employees of Anywhere Real Estate become eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.
Can employees at Anywhere Real Estate choose how much to contribute to their 401(k) plan?
Yes, employees at Anywhere Real Estate can choose to contribute a percentage of their salary to their 401(k) plan, within IRS limits.
What investment options are available in the Anywhere Real Estate 401(k) plan?
The Anywhere Real Estate 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Are there any fees associated with the 401(k) plan at Anywhere Real Estate?
Yes, Anywhere Real Estate's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.
How often can employees change their contribution amounts in the Anywhere Real Estate 401(k) plan?
Employees at Anywhere Real Estate can change their contribution amounts at designated times throughout the year, usually during open enrollment periods.
Does Anywhere Real Estate offer financial education resources for employees regarding their 401(k) plan?
Yes, Anywhere Real Estate provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
What happens to the 401(k) plan if an employee leaves Anywhere Real Estate?
If an employee leaves Anywhere Real Estate, they can roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the plan, depending on the plan's rules.
Is there a loan provision in the Anywhere Real Estate 401(k) plan?
Yes, the Anywhere Real Estate 401(k) plan may allow employees to take loans against their account balance, subject to specific terms and conditions.
5. BenefitsPRO, 2017