New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Empowering Women at Equitable Holdings: 4 Essential Retirement Strategies to Consider

Preparing for retirement at Equitable Holdings can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. Research shows that 31% of women are currently or have been caregivers during their careers. Women who are working also tend to put less money aside for retirement. According to one report, women contribute 30% less to their retirement accounts than men.

These numbers may seem overwhelming, but you don’t have to be a statistic. With a little foresight, you can start taking steps now, which may help you in the long run. Here are three steps to consider that may put Equitable Holdings employees ahead of the curve.

Talk about money. Nowadays, discussing money is less taboo than it’s been in the past, and it’s crucial to take control of your financial future. If you’re single, consider writing down your retirement goals and keeping them readily accessible. If you have a partner, make sure you are both on the same page regarding your retirement goals. The more comfortably you can talk about your future, the more confident you may be to make important decisions when they come up.
Be proactive about your retirement after Equitable Holdings. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Equitable Holdings retirement accounts stand today? Being proactive with your Equitable Holdings retirement accounts allows you to create a goal-oriented roadmap. It may also help to adapt when necessary and continue their journey regardless of things like relationship status or market fluctuations.

Make room for your future in your budget. Adjust your budget to allow for retirement savings, just as you would for a new home or your dream vacation. Like any of your other financial goals, you may find it beneficial to review your retirement goals on a regular basis to make sure you’re on track.

Retirement may look a little different for women, but with the right strategies – and support – you’ll be able to live the retirement you’ve always dreamed of.

Transamerica.com, 2021

GAO.gov, 2021

Featured Video

Articles you may find interesting:

What is the 401(k) plan offered by Equitable Holdings?

The 401(k) plan at Equitable Holdings is a retirement savings plan that allows employees to save and invest a portion of their paycheck before taxes are taken out.

How can employees enroll in the 401(k) plan at Equitable Holdings?

Employees can enroll in the Equitable Holdings 401(k) plan by accessing the benefits portal or contacting the HR department for guidance on the enrollment process.

Does Equitable Holdings offer a company match for the 401(k) contributions?

Yes, Equitable Holdings provides a company match for employee contributions to the 401(k) plan, which helps to enhance retirement savings.

What are the contribution limits for the 401(k) plan at Equitable Holdings?

The contribution limits for the Equitable Holdings 401(k) plan are in line with IRS regulations, which can change annually. Employees should check the latest guidelines for the current limits.

Can employees take loans against their 401(k) plans at Equitable Holdings?

Yes, Equitable Holdings allows employees to take loans against their 401(k) balance, subject to certain terms and conditions outlined in the plan documents.

What investment options are available in the Equitable Holdings 401(k) plan?

The 401(k) plan at Equitable Holdings offers a range of investment options, including mutual funds, index funds, and other investment vehicles to suit different risk tolerances.

Is there a vesting schedule for the company match in the Equitable Holdings 401(k) plan?

Yes, Equitable Holdings has a vesting schedule for the company match, which means employees must work for the company for a certain period before they fully own the matched contributions.

How can employees change their contribution percentage to the 401(k) plan at Equitable Holdings?

Employees can change their contribution percentage by logging into the benefits portal or contacting HR to submit their request.

What happens to the 401(k) plan if an employee leaves Equitable Holdings?

If an employee leaves Equitable Holdings, they have several options for their 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it with Equitable Holdings.

Are there any penalties for early withdrawal from the Equitable Holdings 401(k) plan?

Yes, early withdrawals from the Equitable Holdings 401(k) plan may incur penalties and taxes, as per IRS regulations, unless certain conditions are met.