Preparing for retirement at The Walt Disney Company 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 The Walt Disney Company 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 The Walt Disney Company. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your The Walt Disney Company retirement accounts stand today? Being proactive with your The Walt Disney Company 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
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What type of retirement savings plan does The Walt Disney Company offer to its employees?
The Walt Disney Company offers a 401(k) savings plan to help employees save for retirement.
Does The Walt Disney Company match employee contributions to the 401(k) plan?
Yes, The Walt Disney Company provides a matching contribution to employee 401(k) accounts, subject to certain limits.
What is the eligibility requirement for The Walt Disney Company's 401(k) plan?
Employees of The Walt Disney Company are generally eligible to participate in the 401(k) plan after completing a specified period of service.
Can employees of The Walt Disney Company choose how their 401(k) contributions are invested?
Yes, employees can select from a variety of investment options for their 401(k) contributions through The Walt Disney Company's plan.
What is the maximum employee contribution limit for The Walt Disney Company's 401(k) plan?
The maximum employee contribution limit for The Walt Disney Company's 401(k) plan aligns with the IRS annual contribution limits, which may change each year.
Are there any fees associated with The Walt Disney Company's 401(k) plan?
Yes, The Walt Disney Company's 401(k) plan may have certain administrative fees, which are disclosed in the plan documents.
Can employees of The Walt Disney Company take loans against their 401(k) savings?
Yes, The Walt Disney Company's 401(k) plan allows eligible employees to take loans against their account balance under specific conditions.
What happens to my 401(k) savings if I leave The Walt Disney Company?
If you leave The Walt Disney Company, you can choose to roll over your 401(k) savings to another retirement account, leave it in the plan, or withdraw it, subject to tax implications.
Does The Walt Disney Company provide financial education resources for its 401(k) plan participants?
Yes, The Walt Disney Company offers financial education resources and tools to help employees make informed decisions about their 401(k) savings.
How can employees of The Walt Disney Company access their 401(k) account information?
Employees can access their 401(k) account information through the online portal provided by The Walt Disney Company's plan administrator.