Healthcare Provider Update: Offers a Health and Welfare Benefits Plan with multiple medical options including PPOs and HSAs. Coverage includes medical, dental, vision, prescription drugs, and COBRA continuation. ACA-related planning is emphasized for early retirees, with guidance to evaluate ACA marketplace options due to projected 2026 premium hikes Click here to learn more
A recent study conducted by Security.org unveiled surprising trends regarding social media usage across generations,
with a significant focus on baby boomers. Contrary to popular belief, which often associates social media prowess with younger demographics like millennials, it appears that baby boomers are not only active users but also greatly benefit from their online interactions. This revelation questions the stereotype of social media being predominantly a young person’s arena.
The research led by Corie Colliton reveals an impressive 84% of baby boomers believe that social media positively influences their lives—a stark contrast to the 33%
of millennials who view their online interactions negatively. This difference is especially striking given the high integration of social media in the daily routines of younger generations.
For baby boomers at Terex, this affinity for social media may stem from their unique historical context. Having witnessed the dawn of television, the expansion of cable, and the birth of the internet, they have embraced each new technological wave as a fresh media outlet. This extensive exposure to tech innovations likely contributes to their adaptive and favorable use of social media platforms.
However, the way baby boomers engage with social media differs significantly from younger users. They tend to spend less time online, which might lead to a more satisfying and less overwhelming online experience. Terex employees from this generation typically use social platforms to stay connected with friends and family, enhancing their sense of happiness linked to these interactions.
According to Statista, YouTube tops the charts as the favorite platform among baby boomers, with 70% using it regularly, closely followed by Facebook.
This preference aligns with traditional media consumption patterns that favor content viewing over interactive engagement. Usage rates for other platforms like Pinterest, LinkedIn, and Instagram vary, with Twitter and Snapchat being less popular among this demographic.
When interacting with technology, baby boomers at Terex often utilize a single index finger for typing on smartphones—a method reminiscent of older dialing techniques. This contrasts with the thumb-typing speed common among younger generations.
The study also sheds light on broader cultural attitudes toward social media. Only 26.5% of boomers believe social media should not exist, compared to 44% of millennials. This indicates a generational divide in how social media is perceived within society.
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!
Interestingly, the study finds that positive sentiments about social media often come from Southern male boomers who are married, hold at least an associate degree, and lean politically to the right. In contrast, millennial women from the Midwest, who are single and lean left politically, generally have a less favorable view of social media.
For Terex employees approaching retirement, the role of social media is increasingly vital.
A 2022 Financial Times survey
highlighted that about 60% of baby boomers now engage with financial content on platforms like Facebook and YouTube. They use these sites not only for personal connections but also to monitor market trends, seek financial advice, and manage their retirement planning.
For baby boomers at Terex, mastering social media is like rediscovering a cherished classic car with modern updates. They appreciate the blend of traditional engagement and new-age digital tools, enjoying the journey much like driving a well-loved, refurbished car on modern roads. This generation values the integration of conventional wisdom with innovative technologies, enhancing their experience as they navigate through the evolving digital landscape.
What is the purpose of Terex's 401(k) Savings Plan?
The purpose of Terex's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.
How can Terex employees enroll in the 401(k) Savings Plan?
Terex employees can enroll in the 401(k) Savings Plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
What types of contributions can Terex employees make to the 401(k) Savings Plan?
Terex employees can make pre-tax contributions, Roth (after-tax) contributions, and may also be eligible for employer matching contributions.
Is there a company match for contributions to Terex's 401(k) Savings Plan?
Yes, Terex offers a company match for employee contributions to the 401(k) Savings Plan, subject to certain limits and conditions.
What is the vesting schedule for Terex's 401(k) employer match?
The vesting schedule for Terex's 401(k) employer match typically follows a graded vesting schedule, where employees earn rights to the employer contributions over a specified period.
At what age can Terex employees start withdrawing from their 401(k) Savings Plan?
Terex employees can generally start withdrawing from their 401(k) Savings Plan at age 59½, although there are specific conditions and penalties for early withdrawals.
Can Terex employees take loans against their 401(k) Savings Plan?
Yes, Terex allows employees to take loans against their 401(k) Savings Plan, subject to the plan's terms and conditions.
How often can Terex employees change their contribution percentage to the 401(k) Savings Plan?
Terex employees can typically change their contribution percentage to the 401(k) Savings Plan at any time, subject to the plan's rules.
What investment options are available in Terex's 401(k) Savings Plan?
Terex's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
How can Terex employees access their 401(k) account information?
Terex employees can access their 401(k) account information through the company’s online portal or by contacting the plan administrator for assistance.