The contemporary era presents a myriad of stressors, from the unpredictable housing market to escalating grocery prices. Indeed, the intensity of stress an individual encounters can significantly hinge on their geographical location, as recent research reveals.
A comprehensive study conducted by WalletHub earlier in the year embarked on the ambitious task of ranking the “most and least stressed” states across the United States. This expansive report utilized a comparative analysis across the 50 states, examining them through the lens of 41 distinct metrics. These indicators encompassed a range of factors including the unemployment rate, income growth trajectory, separation and divorce rates, mental health statistics, and the affordability of medical consultations.
In order to distill these broad metrics into actionable insights for BJs Wholesale Club professionals, the states were evaluated based on four primary dimensions of stress:
- Work-related stress,
- Financial stress,
- Family-related stress, and
- Health and safety-related stress.
This intricate analysis was fortified by data sourced from reputable institutions such as the U.S. Census Bureau, the Bureau of Labor Statistics, and the Centers for Disease Control and Prevention, among others.
In an intriguing revelation, the report not only provided a holistic stress ranking but also delved into specific categories like the average number of sleep hours residents get each night, the number of practicing psychologists per capita, and the average weekly work hours.
Mississippi emerged at the forefront of this study, unfortunately bearing the title of the most stressed state. It was particularly impacted by financial stress despite boasting the lowest cost of living in the country. Contrasting its affordable living, it faces challenges with educational attainment and workforce productivity, alongside having one of the most substantial rates of worker migration, as detailed by a CNBC report.
Conversely, the spectrum's other end highlighted states like Utah, Connecticut, and South Dakota, known for their comparatively low stress levels. Interestingly, states like Hawaii and Florida, often celebrated for their high happiness indices, did not feature in the top ten of this list.
Topping the chart as the epitome of tranquility was Minnesota, recognized as the least stressed state. Minnesotans reported minimal stress related to finances and family. Moreover, Minnesota was celebrated for offering its residents nearly the highest average sleep hours, trailing only behind Colorado. Famously referred to as the “Land of 10,000 Lakes,” Minnesota has also been acclaimed as one of the prime states for both living and professional engagement, as per CNBC’s annual assessment.
Following closely was Utah, securing the second position. Remarkably, Utah recorded the fewest work hours per week on average, a low poverty rate, and the nation’s lowest divorce statistics. In an adjunct study by WalletHub, Utah was distinguished as the happiest state, partly owing to its impressive volunteer rate standing at 40.7% - a stark contrast to Florida’s significantly lower rate.
New Hampshire consolidated the top three, standing out with the lowest proportion of adults in fair or poor health and an impressive average credit score of 729, as per CNBC Select. It boasts one of the lowest poverty and crime rates per capita. The city of Nashua in Hillsborough County, New Hampshire, in particular, enjoys the reputation of being the safest in the country, making it one of the state's most desirable living destinations, according to Niche. Further, Census Bureau data indicates that New Hampshire ranks among the wealthiest and most educated in the nation, enhanced by its lack of income tax on wages and sales tax.
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A crucial aspect contributing to Minnesota's low stress levels, particularly relevant to BJs Wholesale Club professionals nearing or in retirement, is the state's robust healthcare system. According to U.S. News & World Report (2021), Minnesota is ranked 3rd in healthcare access and 11th in healthcare quality nationwide, ensuring its residents, especially those in older demographics, have ample access to superior medical care. This accessibility is paramount for those transitioning from active working life, as they can rely on high-quality healthcare services, a factor significantly alleviating health-related stress often accompanying this life stage.
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Navigating the states of America in search of the ideal place to retire is akin to sifting through a box of assorted chocolates, each piece uniquely flavored with different fillings representing various lifestyle factors. Minnesota, in this assortment, is the coveted dark chocolate truffle — rich in quality healthcare, laden with the sweetness of plentiful sleep, and enrobed in the smooth texture of low financial and family-related stress. Just as dark chocolate is known for its health benefits and stress-reducing antioxidants, Minnesota offers a blend of life-enhancing qualities that melt away worries, making it the choice morsel for those seasoned professionals stepping away from their bustling BJs Wholesale Club careers into a phase of life where tranquility and well-being become the ultimate luxury.
What type of retirement savings plan does BJ's Wholesale Club offer to its employees?
BJ's Wholesale Club offers a 401(k) retirement savings plan to its employees.
Is there an employer match for contributions made to the 401(k) plan at BJ's Wholesale Club?
Yes, BJ's Wholesale Club provides an employer match for employee contributions to the 401(k) plan, subject to certain limits.
What is the eligibility requirement for BJ's Wholesale Club employees to participate in the 401(k) plan?
Employees of BJ's Wholesale Club are typically eligible to participate in the 401(k) plan after completing a specified period of service.
Can BJ's Wholesale Club employees choose how their 401(k) contributions are invested?
Yes, BJ's Wholesale Club employees can choose from a variety of investment options for their 401(k) contributions.
What is the maximum contribution limit for the 401(k) plan at BJ's Wholesale Club?
The maximum contribution limit for the 401(k) plan at BJ's Wholesale Club is in line with IRS guidelines, which may change annually.
Does BJ's Wholesale Club offer a Roth 401(k) option?
Yes, BJ's Wholesale Club offers a Roth 401(k) option, allowing employees to make after-tax contributions.
How often can BJ's Wholesale Club employees change their 401(k) contribution amount?
BJ's Wholesale Club employees can typically change their 401(k) contribution amount on a quarterly basis.
What happens to my 401(k) account if I leave BJ's Wholesale Club?
If you leave BJ's Wholesale Club, you can choose to roll over your 401(k) account to another retirement plan, cash it out, or leave it with BJ's Wholesale Club.
Are there loans available against the 401(k) plan at BJ's Wholesale Club?
Yes, BJ's Wholesale Club allows employees to take loans against their 401(k) balance, subject to plan rules.
Can BJ's Wholesale Club employees access their 401(k) funds before retirement?
Yes, BJ's Wholesale Club employees may access their 401(k) funds before retirement under certain circumstances, such as financial hardship.