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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 Welltower.
1. Mental Benefits
Working during your Welltower 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 Welltower 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 Welltower 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 Welltower.
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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!
- 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 retirement savings plan does Welltower offer to its employees?
Welltower offers a 401(k) retirement savings plan to help employees save for their future.
Does Welltower provide any matching contributions to the 401(k) plan?
Yes, Welltower provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
How can employees enroll in Welltower's 401(k) plan?
Employees can enroll in Welltower's 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What are the eligibility requirements to participate in Welltower's 401(k) plan?
Employees must meet certain eligibility requirements, such as age and length of service, to participate in Welltower's 401(k) plan.
Can Welltower employees make changes to their 401(k) contributions?
Yes, Welltower employees can change their 401(k) contribution amounts at any time, subject to plan rules.
What investment options are available in Welltower's 401(k) plan?
Welltower's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Does Welltower allow employees to take loans against their 401(k) savings?
Yes, Welltower allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What is the vesting schedule for Welltower's 401(k) matching contributions?
Welltower has a vesting schedule for matching contributions, which means employees must work for a certain period to fully own those contributions.
How often can Welltower employees review their 401(k) account statements?
Welltower employees can review their 401(k) account statements quarterly, providing them with regular updates on their retirement savings.
Is there a way for Welltower employees to access financial advice regarding their 401(k) plan?
Yes, Welltower provides access to financial advisors who can help employees make informed decisions about their 401(k) investments.
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5. BenefitsPRO, 2017