/General/General%204.png?width=1280&height=853&name=General%204.png)
Preparing for retirement at Meta 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 Meta 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 Meta. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Meta retirement accounts stand today? Being proactive with your Meta 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 401(k) plan offered by Meta?
Meta offers a 401(k) plan that allows employees to save for retirement by contributing a portion of their salary before taxes.
How does Meta match employee contributions to the 401(k) plan?
Meta provides a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contribution up to a certain limit.
Can employees at Meta choose how their 401(k) contributions are invested?
Yes, employees at Meta can choose from a variety of investment options for their 401(k) contributions, including stocks, bonds, and mutual funds.
What is the eligibility requirement for Meta's 401(k) plan?
Employees at Meta are generally eligible to participate in the 401(k) plan after completing a specified period of employment.
Does Meta offer a Roth 401(k) option?
Yes, Meta offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.
How often can employees at Meta change their 401(k) contribution amounts?
Employees at Meta can change their 401(k) contribution amounts at any time, subject to the plan's rules.
What happens to my 401(k) plan if I leave Meta?
If you leave Meta, you can choose to roll over your 401(k) balance to another retirement account, leave it in the Meta plan, or cash it out, although cashing out may incur penalties.
Does Meta provide financial education resources for employees regarding their 401(k)?
Yes, Meta provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
Are there any fees associated with Meta's 401(k) plan?
Yes, there may be administrative fees associated with Meta's 401(k) plan, but these are typically disclosed in the plan documents.
Can employees take loans against their 401(k) balance at Meta?
Yes, Meta allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.