Preparing for retirement at Hearst Corporation 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 Hearst Corporation 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 Hearst Corporation. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Hearst Corporation retirement accounts stand today? Being proactive with your Hearst Corporation 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:
- 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!
What is the Hearst Corporation 401(k) Savings Plan?
The Hearst Corporation 401(k) Savings Plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted, helping them prepare for retirement.
How does the Hearst Corporation match contributions to the 401(k) Savings Plan?
Hearst Corporation offers a matching contribution to the 401(k) Savings Plan, typically matching a percentage of employee contributions, up to a certain limit.
When can employees at Hearst Corporation enroll in the 401(k) Savings Plan?
Employees at Hearst Corporation can enroll in the 401(k) Savings Plan during their initial onboarding period or during designated open enrollment periods throughout the year.
What types of investment options are available in the Hearst Corporation 401(k) Savings Plan?
The Hearst Corporation 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles tailored to different risk tolerances.
Are there any fees associated with the Hearst Corporation 401(k) Savings Plan?
Yes, the Hearst Corporation 401(k) Savings Plan may have administrative fees and investment-related fees, which are outlined in the plan documents provided to employees.
Can employees take loans from their Hearst Corporation 401(k) Savings Plan?
Yes, employees may have the option to take loans from their Hearst Corporation 401(k) Savings Plan, subject to certain conditions and limits.
What happens to my Hearst Corporation 401(k) Savings Plan if I leave the company?
If you leave Hearst Corporation, you have several options for your 401(k) Savings Plan, including rolling it over into an IRA or a new employer's plan, or cashing it out (though this may incur taxes and penalties).
How can I access my Hearst Corporation 401(k) Savings Plan account information?
Employees can access their Hearst Corporation 401(k) Savings Plan account information online through the plan's designated website or by contacting the plan administrator.
Is there a vesting schedule for the Hearst Corporation 401(k) Savings Plan?
Yes, the Hearst Corporation 401(k) Savings Plan may have a vesting schedule that determines when employees fully own the company's matching contributions.
Can I change my contribution rate to the Hearst Corporation 401(k) Savings Plan?
Yes, employees can change their contribution rate to the Hearst Corporation 401(k) Savings Plan, typically at any time, depending on the plan's rules.
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)