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

How Equity Residential Employees Can Get 'Unstuck' and Enjoy Their Wealth

Healthcare Provider Update: Offers three medical plan options including UHC PPO and Surest, with 100% preventive care coverage. Employees also receive dental, vision, HSAs, FSAs, and wellness incentives 7. With ACA premiums rising and subsidies expiring, Equitys employer-sponsored plans may provide better value and predictability for employees. Click here to learn more

'Equity Residential employees seeking a meaningful and balanced life should recognize that true wealth isn't just about financial stability but also embracing fulfillment in all aspects of life, including health and well-being.' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'Helping Equity Residential employees achieve a fulfilling life requires more than financial strategies; it's about guiding them to live with purpose, balancing wealth with wellness to truly enjoy their success.' – Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

The connection between happiness and money
How financial advisors can help clients get 'unstuck'
The importance of balancing financial, emotional, and physical well-being

It can be difficult for financial consultants to offer more than just a sound financial strategy. A highly influential financial counselor understands that success is based on more than just statistics, even though creating a stable future is crucial. Crafting a happy and satisfying life for clients—balancing not just their financial wellness but also their physical and mental well-being—is the key to true success. Equity Residential employees can feel grounded and rooted in all facets of their lives, not just their finances, according to our three-pronged strategy.

The Connection Between Happiness and Money

There is a widespread misperception that having money inevitably makes one happy. Actually, I've seen a lot of people who are wealthy yet find it difficult to enjoy their prosperity. Even though they are in a position to spend comfortably, some people are inhibited by their fear of doing so. For example, one customer hesitated to book nonstop flights because he was so reluctant to spend money, despite the fact that layovers had a major negative impact on his quality of life. A different customer would routinely skip dinner due to cost rather than health issues.

However, I have also worked with people who struggle with compulsive spending, which is the opposite tendency. They continue to overindulge in the hopes that the future will correct their current financial irresponsibility, even if they have pledged to control their behaviors. Although there are benefits to the 'Carpe Diem' attitude, living extravagantly can harm a client's financial future.

The most important lesson is that the objective is to spend in a way that brings happiness and satisfaction, not to spend the least or the most. It is our responsibility as financial advisors to help clients strike that balance by advising them to engage in fulfilling experiences and endeavors rather than only attempting to reduce costs or satisfy material cravings.

Getting 'Unstuck' Clients

As a financial advisor, one of my most important responsibilities is to assist customers who are feeling 'stuck.' This can take many forms: some people are stuck in a financial mindset that keeps them from appreciating their prosperity, while others are physically ill and lack the stamina to engage in the things they used to enjoy. Many individuals experience mental loneliness or uncertainty about their life's purpose.

The objective is to assist them in being 'unstuck.' This could be advising that a client finally upgrade to first-class when they travel, or urging them to take that long-awaited family trip that they have been putting off for years. It might also entail helping them find new interests, like gardening or photography, or assisting them in getting back into exercise by getting them a personal trainer or joining a gym.

Pickleball is among the most successful activities I've recently introduced to my customers. For many, this inexpensive but incredibly captivating sport has changed their lives. It offers social interaction, which is crucial for mental health, in addition to physical exercise. After learning pickleball, clients have said they feel more motivated and excited about life. Seeing these great changes has been immensely satisfying, and the game has turned into a reason to look forward to something.

Posing Appropriate Questions

Asking the proper questions is the first step in assisting customers in becoming unstuck. I probe them with inquiries that delve deeper into their lives rather than just their portfolios. 'How are you? Are you continuing to be active? What do you most eagerly anticipate?' I can learn more about their priorities thanks to these inquiries. The truth is that relationships, health, or a lack of purpose are more common worries for many people than money.

Advisors can assist clients in identifying the aspects of their lives that they can control and letting go of the things that they cannot by interacting with them on this deeper level. When clients are based on a sense of general well-being, financial decisions become simpler. Addressing clients' emotional, physical, and financial issues enables them to make choices that are in line with their actual preferences.

Encouraging Customers to Lead the Life They Desire

Giving clients financial guidance is only one aspect of helping them become unstuck; another is enabling them to use their wealth in ways that truly bring them joy. You can tell you're having a real influence when your clients walk away from a conversation feeling lighter, more confident, and more excited about their future. In addition to helping their clients accumulate wealth, financial advisors should assist them in creating a worthwhile life.

The function of an advisor goes beyond creating financial plans; it also involves helping clients create life plans that strike a balance between fulfillment and enjoyment. These interventions lay the groundwork for long-term satisfaction, whether it's recommending a trip, fostering a new pastime, or assisting a client in making health-related investments. The goal of wealth is to improve one's life, not only accumulate it.

In summary, managing investments and portfolios is only one aspect of being a financial advisor. Understanding clients' core needs—how they want to spend their time, what brings them joy, and how they may live life to the fullest—is where the true value lies. Equity Residential employees can feel financially confident and pleased in all other aspects of their lives when they can enjoy the wealth they have amassed. In addition to a healthy portfolio, this all-encompassing approach to financial counseling results in a happier, healthier life.

Brian Parker, CFP, managing director and co-founder of EP Wealth Advisors, works with professionals, athletes, entrepreneurs, and executives. He also participates in initiatives promoting women's programming, financial literacy, and charitable giving. Brian sits on various boards that support sports, health, wellness, and youth education.

For senior citizens, consistent physical activity has major health benefits. Even a small amount of regular exercise, like walking, has been shown to significantly lower the chance of developing chronic diseases like diabetes, heart disease, and several types of cancer. According to a study published in Preventive Medicine, for example, walking 3,000 steps a day can reduce the chance of dying prematurely. For people over 60, the advantages are greatest when walking 7,000 to 9,000 steps a day. Strength and endurance training can also improve mobility, balance, and general physical function, leading to a better quality of life and more independence as people age.

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Articles you may find interesting:

Sources:

1. 'The Life-Changing Benefits of Exercise After 60.' National Council on Aging , 2021.
www.ncoa.org/article/the-life-changing-benefits-of-exercise-after-60 .

2. 'Mental health around retirement: evidence of Ashenfelter's dip.' BMC Geriatrics , 2023.
doi:10.1186/s12877-023-02999-x.

3. '4 tips for getting fit at any age, from a sports scientist who studies athletes as old as 92.' Business Insider , 2025.

4. 'Participating in Activities You Enjoy As You Age.' National Institute on Aging , 2022.
www.nia.nih.gov/news/participating-activities-you-enjoy .

5. 'Plan Your Retirement And Improve Your Mental And Physical Health.' Forbes , 9 May 2025.
www.forbes.com/sites/stevevernon/2025/05/09/plan-your-retirement .

What are the eligibility requirements for employees to participate in the Equity-League Pension Plan, and how can they ensure compliance with these requirements to maximize their potential benefits during retirement?

Eligibility for the Equity-League Pension Plan: Employees become eligible to participate in the Pension Plan by working at least two weeks in covered employment during a 12-month period. To maximize benefits, employees should ensure they continue working in covered employment to accumulate Years of Vesting Service (YVS), which solidifies their entitlement to benefits even if they leave the industry(Equity-League_Pension_T…).

How do the contribution limits for the Equity-League 401(k) Plan compare to traditional IRAs, and what strategies can employees deploy to make the most of their contribution options as they approach retirement?

Contribution Limits Comparison: The Equity-League 401(k) Plan has higher contribution limits compared to traditional IRAs. Employees can contribute up to $19,000 annually (or $25,000 if over 50), while traditional IRAs are capped at $6,000 (or $7,000 for those over 50). By taking full advantage of catch-up contributions as they near retirement, employees can significantly boost their retirement savings(Equity-League_Pension_T…).

What approaches can participants in the Equity-League Pension Plan take to effectively manage their individual accounts, and how can they adjust their investment strategies based on changes in their employment status or retirement goals?

Managing Individual Accounts in the Pension Plan: Participants in the Equity-League 401(k) Plan can manage their accounts by selecting from various investment options, including age-based and equity funds. Adjusting investments based on career changes or retirement goals can help employees align their portfolios with their risk tolerance and retirement timeline(Equity-League_Pension_T…).

In what ways can employees of the Equity-League Pension Plan benefit from understanding the vesting schedule, and how can this knowledge impact their overall retirement planning and decision-making process?

Vesting Schedule: Understanding the vesting schedule is crucial for employees. Employees become vested by accumulating five YVS or by satisfying other vesting tests, such as the 25-year test. Once vested, employees secure their pension benefits, regardless of future employment changes(Equity-League_Pension_T…).

What are the tax implications for participants in the Equity-League Pension Trust Fund when taking distributions from their retirement accounts, and how can they optimize their withdrawals to minimize tax liabilities?

Tax Implications for Distributions: When taking distributions from their retirement accounts, employees may face a 10% penalty if withdrawals are made before age 59½. However, rolling over distributions into IRAs can help defer taxes. Employees should consult tax professionals to optimize withdrawals and minimize tax liabilities(Equity-League_Pension_T…)(Equity-League_Pension_T…).

How can employees ensure that their beneficiary designations are current within the Equity-League Pension Plan, and what steps should they take in the event of a life change, such as marriage or divorce, to protect their intended beneficiaries?

Beneficiary Designations: It’s important for employees to keep beneficiary designations current. In the event of life changes such as marriage or divorce, updating these designations ensures intended beneficiaries receive the appropriate benefits. Employees can contact the Fund Office to make updates(Equity-League_Pension_T…)(Equity-League_Pension_T…).

What resources are available for employees of the Equity-League Pension Trust Fund to educate themselves about their retirement rights under ERISA, and how can they utilize these resources to advocate for their interests effectively?

ERISA Resources for Employees: Employees are protected under ERISA, which guarantees certain rights regarding their retirement benefits. The Equity-League Pension Trust Fund provides resources such as the Summary Plan Description, and employees can access legal help if they believe their rights have been violated(Equity-League_Pension_T…).

How does the withdrawal process work for employees of the Equity-League Pension Plan, particularly in the context of normal retirement age and circumstances that may lead to early withdrawals?

Withdrawal Process: Employees can take withdrawals as early as age 60, but benefits will be reduced for each year prior to age 65. Early withdrawals may also incur penalties, so employees should consider the long-term financial impact before opting for early retirement(Equity-League_Pension_T…).

Given the significant assets under management in the Equity-League Pension Trust Fund, how do investment choices within the plan impact employees' potential retirement income, and what factors should be considered when selecting these investments?

Investment Choices: Investment options within the 401(k) Plan impact employees' retirement income. With 19 investment choices, including equity and fixed-income investments, participants should select funds that balance growth and risk, keeping in mind the potential long-term returns(Equity-League_Pension_T…).

What is the best way for employees to contact the Equity-League Pension Trust Fund for inquiries about their benefits or the retirement process, and what specific information should they be prepared to provide to facilitate a productive conversation?

Contacting the Fund for Inquiries: Employees can contact the Equity-League Pension Trust Fund by phone, email, or mail. When making inquiries, employees should provide personal details such as their participant ID and questions about specific benefits to ensure efficient assistance(Equity-League_Pension_T…).

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Pension Plan Name: Equity Residential does not offer a traditional defined benefit pension plan. Instead, they focus on other retirement savings options. Years of Service and Age Qualification: Not applicable, as Equity Residential does not have a traditional pension plan. 401(k) Plan: 401(k) Plan Name: Equity Residential 401(k) Plan. Who Qualifies: Full-time employees are eligible to participate in the 401(k) plan.

Restructuring and Layoffs: Equity Residential, a major player in the residential real estate sector, has recently undergone a restructuring phase aimed at optimizing operations and enhancing efficiency. This move comes in response to shifting market conditions and evolving tenant needs. As part of this restructuring, the company has streamlined its workforce to better align with its strategic objectives. While specific numbers of layoffs have not been disclosed, the company's focus has been on adapting to economic fluctuations and improving operational agility. It is crucial to monitor these developments due to the current economic environment, which includes challenges related to investment returns and regulatory changes impacting real estate. Understanding these adjustments can provide valuable insights into how real estate companies are navigating these complexities.

Equity Residential Stock Options and RSUs 2022 Equity Residential (EQR) offered both stock options and RSUs to its employees. The company typically uses EQR for stock options and RSU for Restricted Stock Units in its documentation. In 2022, employees at Equity Residential eligible for these benefits included senior executives and other key employees. 2023 In 2023, Equity Residential continued its practice of granting stock options and RSUs to select employees. The acronym EQR refers to stock options, while RSU denotes Restricted Stock Units within the company’s benefit structure. This year, the eligibility was similar to previous years, targeting executives and high-performing staff. 2024 For 2024, Equity Residential maintained its stock option and RSU programs with updates to the vesting schedules and grant sizes. Employees at Equity Residential can receive these benefits based on their role and performance, with EQR used for stock options and RSU for Restricted Stock Units. Eligibility remains focused on key positions and high contributors.

Equity Residential has been actively working on enhancing its employee healthcare benefits, particularly in the context of its Environmental, Social, and Governance (ESG) initiatives. In 2023, the company emphasized its commitment to creating a supportive environment for its employees by expanding healthcare offerings that include comprehensive medical, dental, and vision plans. These benefits are designed to support the diverse needs of its workforce, reflecting the company's broader commitment to social responsibility and employee well-being. Equity Residential has also integrated wellness programs aimed at promoting physical and mental health, recognizing the importance of employee well-being in sustaining long-term business success.