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 DoorDash.
1. Mental Benefits
Working during your DoorDash 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 DoorDash 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 DoorDash 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 DoorDash.
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- 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 is the 401(k) plan offered by DoorDash?
The 401(k) plan at DoorDash is a retirement savings plan that allows employees to save for their future by contributing a portion of their salary before taxes.
Does DoorDash match employee contributions to the 401(k) plan?
Yes, DoorDash offers a matching contribution to the 401(k) plan, which helps employees grow their retirement savings faster.
How can DoorDash employees enroll in the 401(k) plan?
DoorDash employees can enroll in the 401(k) plan through the employee benefits portal during the enrollment period or after they become eligible.
What are the eligibility requirements for DoorDash's 401(k) plan?
To be eligible for DoorDash's 401(k) plan, employees typically need to meet certain criteria, such as being a full-time employee and reaching a specific duration of employment.
Can DoorDash employees change their contribution percentage to the 401(k) plan?
Yes, DoorDash employees can change their contribution percentage to the 401(k) plan at any time through the employee benefits portal.
What investment options are available in DoorDash's 401(k) plan?
DoorDash's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles tailored to different risk levels.
Is there a vesting schedule for DoorDash's 401(k) matching contributions?
Yes, DoorDash has a vesting schedule for its matching contributions, meaning employees must work for a certain period before they fully own the matched funds.
How can DoorDash employees access their 401(k) account information?
DoorDash employees can access their 401(k) account information online through the designated retirement plan administrator's website.
What happens to a DoorDash employee's 401(k) if they leave the company?
If a DoorDash employee leaves the company, they can choose to roll over their 401(k) balance to a new employer's plan, an IRA, or cash out, subject to tax implications.
Are there any fees associated with DoorDash's 401(k) plan?
Yes, there may be administrative fees and investment-related expenses associated with DoorDash's 401(k) plan, which are disclosed in the plan documents.
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5. BenefitsPRO, 2017