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The world of investing is very subjective--the investment plan that’s right for you depends largely upon the level of comfort that you have when it comes to risk. We'd like our clients from Lyft to remember that you can’t completely avoid risk when it comes to investing, but it's possible for you to manage it.
There are two aspects of risk tolerance for Lyft employees to consider: (1) the capacity of your investment plan itself to absorb losses, and (2) how comfortable you are personally with risk. The first aspect can be quantified--the more flexibility your investment plan has when it comes to potential loss, the more risk your plan can tolerate. For example, as we’ve discussed, a long investment time horizon may allow you to take on more risk than a short time horizon.
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The second aspect, how comfortable you are personally with risk, is more of an emotional measure, and depends on many factors, including your objectives, life stage, personality, and investment experience. Some investors are comfortable with a high degree of risk, while others can tolerate only minimal risk. Individual risk tolerance is an important factor for Lyft employees in deciding which individual investments are appropriate for them, as well as how their investment dollars should be allocated among different investment classes.
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Investors are typically grouped into three categories for purposes of discussing risk tolerance: aggressive (those who have a high degree of risk tolerance); moderate (those willing to accept some degree of risk), and conservative (those who are risk averse).
What type of retirement savings plan does Lyft offer to its employees?
Lyft offers a 401(k) retirement savings plan to help employees save for their future.
Does Lyft match employee contributions to the 401(k) plan?
Yes, Lyft provides a company match for employee contributions to the 401(k) plan, helping to enhance their retirement savings.
What is the eligibility requirement for Lyft employees to participate in the 401(k) plan?
Lyft employees are typically eligible to participate in the 401(k) plan after completing a specified period of employment, usually within the first year.
Can Lyft employees choose how much to contribute to their 401(k)?
Yes, Lyft employees can choose their contribution amount, up to the IRS annual contribution limits.
What investment options are available in Lyft's 401(k) plan?
Lyft's 401(k) plan offers a variety of investment options, including mutual funds, index funds, and other investment vehicles to suit different risk tolerances.
How often can Lyft employees change their 401(k) contribution amounts?
Lyft employees can change their 401(k) contribution amounts at regular intervals, typically on a quarterly basis or as specified by the plan.
Is there a vesting schedule for the company match in Lyft's 401(k) plan?
Yes, Lyft has a vesting schedule for the company match, meaning employees must work for a certain period before they fully own the matched funds.
Can Lyft employees take loans against their 401(k) savings?
Yes, Lyft allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What happens to my 401(k) if I leave Lyft?
If you leave Lyft, you have several options for your 401(k), including rolling it over to a new employer's plan, transferring it to an IRA, or cashing it out (though this may incur taxes and penalties).
How can Lyft employees access their 401(k) account information?
Lyft employees can access their 401(k) account information through the designated online portal or by contacting the plan administrator.
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