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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 WeWork. 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 WeWork career. Advisors who want to fulfill their WeWork 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 WeWork 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 type of retirement plan does WeWork offer to its employees?
WeWork offers a 401(k) retirement plan to help employees save for their future.
Does WeWork match employee contributions to the 401(k) plan?
Yes, WeWork provides a matching contribution to the 401(k) plan, subject to certain limits.
How can WeWork employees enroll in the 401(k) plan?
WeWork employees can enroll in the 401(k) plan through the employee benefits portal or by contacting the HR department for assistance.
What is the eligibility requirement for WeWork employees to participate in the 401(k) plan?
Generally, WeWork employees are eligible to participate in the 401(k) plan after completing a specified period of employment, as outlined in the employee handbook.
Can WeWork employees change their contribution percentage to the 401(k) plan?
Yes, WeWork employees can change their contribution percentage at any time during the year, subject to certain limitations.
What investment options are available in WeWork's 401(k) plan?
WeWork's 401(k) plan offers a variety of investment options, including mutual funds and other investment vehicles, allowing employees to choose based on their risk tolerance and retirement goals.
Does WeWork provide financial education resources for employees regarding their 401(k) plan?
Yes, WeWork offers financial education resources and workshops to help employees understand their 401(k) options and make informed decisions.
What happens to my 401(k) plan if I leave WeWork?
If you leave WeWork, you have several options for your 401(k) plan, including rolling it over to an IRA or a new employer's plan, cashing it out, or leaving it with WeWork until you reach retirement age.
Are there any fees associated with WeWork's 401(k) plan?
Yes, WeWork's 401(k) plan may have certain administrative fees and investment-related expenses, which are disclosed in the plan documents.
How often can WeWork employees contribute to their 401(k) plan?
WeWork employees can contribute to their 401(k) plan through payroll deductions, which occur with each paycheck.