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A recent Fidelity Investments poll illuminates new trends in the ever-changing retirement planning landscape. Notably, 66% of respondents envision a phased-in approach to retirement, which deviates from the conventional full-stop strategy. This choice shows a shift towards flexible retirement solutions across generations, as evidenced by the significant interest shown by both Gen Zers and millennials.
The wide-ranging implications of this trend point to the necessity of flexibility in retirement advice and planning when preparing to retire from Huntsman. The departure from traditional retirement models highlights a more comprehensive reassessment of retirement goals and work-life balance, reflecting shifting perspectives toward the end of your Huntsman career. Advisors who want to fulfill their Huntsman clients' complex needs must have a thorough understanding of these preferences as retirement planning continues to change.
A growing number of retirees who desire social connection and intellectual stimulation in addition to financial security are adopting the idea of 'Work for Pleasure' in phased retirement, a viable option for Huntsman employees.
According to an American Psychological Association study, continuing to work after retirement can enhance mental well-being, increase life satisfaction, and facilitate the transition to complete retirement. Retirement is now seen as a new chapter with opportunity for learning, growth, and contribution rather than as an end. This is especially true for seasoned professionals from high-ranking roles.
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Retirement is becoming less and less like the unexpected curtain call at the end of a play and more like a well planned art display. Similar to how an exhibition progressively moves from one theme and era to another, providing visitors with an extensive array of experiences, the modern retirement trip, as defined by Fidelity Investments, takes place in stages. With this method, people can combine the elegant brushstrokes of their personal passions and hobbies with their professional creations. Today's retirees and soon-to-be retirees find joy and fulfillment in doing work that pleases them, much like an artist who paints for the love of art even after their formal career has concluded. This is creating a retirement experience that is as nuanced and fulfilling as a well-curated gallery.
What is the Huntsman 401(k) Savings Plan?
The Huntsman 401(k) Savings Plan is a retirement savings plan that allows employees of Huntsman to save a portion of their paycheck before taxes are taken out.
How can I enroll in the Huntsman 401(k) Savings Plan?
Employees can enroll in the Huntsman 401(k) Savings Plan by visiting the company's benefits portal and completing the enrollment process online.
What is the employer match for the Huntsman 401(k) Savings Plan?
Huntsman offers a competitive employer match for contributions made to the 401(k) Savings Plan, which helps employees maximize their retirement savings.
At what age can I start contributing to the Huntsman 401(k) Savings Plan?
Employees can start contributing to the Huntsman 401(k) Savings Plan as soon as they are eligible, typically upon their date of hire.
What types of contributions can I make to the Huntsman 401(k) Savings Plan?
Huntsman allows employees to make pre-tax contributions, Roth (after-tax) contributions, and catch-up contributions if they are age 50 or older.
How often can I change my contribution percentage for the Huntsman 401(k) Savings Plan?
Employees can change their contribution percentage for the Huntsman 401(k) Savings Plan at any time, typically through the benefits portal.
Does Huntsman offer investment options within the 401(k) Savings Plan?
Yes, the Huntsman 401(k) Savings Plan offers a variety of investment options, including mutual funds, stocks, and bonds, to help employees grow their savings.
What happens to my Huntsman 401(k) Savings Plan if I leave the company?
If you leave Huntsman, you have several options for your 401(k) Savings Plan, including rolling it over to an IRA or a new employer's plan, or cashing it out.
Can I take a loan against my Huntsman 401(k) Savings Plan?
Yes, Huntsman allows employees to take loans against their 401(k) Savings Plan, subject to certain terms and conditions.
Are there penalties for early withdrawal from the Huntsman 401(k) Savings Plan?
Yes, early withdrawals from the Huntsman 401(k) Savings Plan may incur penalties and taxes unless specific conditions are met.