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Seven Financial Books Global Payments Employees Must Read

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Healthcare Provider Update: Healthcare Provider for Global Payments Global Payments, a prominent payment technology and software solutions provider, collaborates with various insurance providers to offer healthcare benefits to its employees. While specific healthcare providers may vary by region and plan, large insurers like Anthem and UnitedHealthcare are commonly associated with companies of this size, offering employer-sponsored health coverage options. Potential Healthcare Cost Increases in 2026 As we look toward 2026, employees of Global Payments may face significant increases in healthcare costs. A projected wave of premium hikes could see rates exceed 60% in some states, severely impacting out-of-pocket expenses. With many employers eyeing strategies to offset rising expenses, such as increasing deductibles and out-of-pocket maximums, employees must prepare for a potential financial strain. A recent study indicates that over 51% of large companies plan to shift more healthcare costs onto their workforce, coupled with the expiration of enhanced federal subsidies, which might ultimately leave employees with thousands in additional costs for same or lesser coverage. Careful planning and early decision-making regarding benefits will be crucial for navigating these changes effectively. Click here to learn more

Navigating the multitude of options available to secure a financially stable future can often feel overwhelming when it comes to personal finance. There are many options and complicated advice available when deciding whether to concentrate on paying off debt, making prudent investments, or increasing income. However, it is possible to become financially independent, as many professionals who have written enlightening books to assist people in this process have attested.

In an effort to simplify this extensive collection of resources, the esteemed Kiplinger Advisor Collective—one of the top organizations in the personal finance space—has selected seven exceptional books that offer priceless financial management guidance.  These choices are tools for changing your financial perspective and behavior, not just books.

Napoleon Hill's 'Think and Grow Rich'

'Think and Grow Rich,' a famous book by Napoleon Hill, is highly regarded as a success guide. It shows that financial success is achievable with a strong belief in one's objectives, a well-thought-out plan, unrelenting pursuit, and teamwork. Dennis Futch of The Tax Shop said that one of the main tenets of Hill's teachings is this idea of self-belief and perseverance, citing the book as a crucial resource from his high school years. Global Payments employees can find great value in Hill's principles, applying them to both personal and professional goals.

William D. Danko and Thomas J. Stanley's 'The Millionaire Next Door'

This book explores the behaviors of those who have subtly amassed riches. It highlights ideas like the importance of compound interest and living within or below one's means. According to Dennis McNamara of wHealth Advisors, the book changed his perspective on wealth and gave hope that anyone from a low-income background might achieve the dream of becoming a millionaire. Global Payments employees can draw inspiration from these strategies to enhance their financial stability.

'Your Money Vehicle: How to Begin Driving to Financial Freedom!' by Collins Jedidiah

The work of Jedidiah Collins focuses on financial literacy, an important but sometimes disregarded facet of education. The goal of his book and the instructional program that goes along with it, Money Vehicle, which has been embraced by schools in more than 20 states, is to give young people the fundamental money skills they will need as adults. Lifestyle Investor Justin Donald supports this strategy, emphasizing its immediate advantages and useful uses. Global Payments employees, particularly those with children, can benefit from the principles taught in this book.

George S. Clason's 'The Richest Man in Babylon'

The everlasting financial lessons found in George S. Clason's book are told through ancient Babylonian parables. It is praised for its simple financial guidance that holds true both now and in the past. This book, according to Wasabi Technologies' Amrita Choudhary, has had a significant influence. She notes that its ideas may be immediately implemented to achieve wealth and financial stability on an individual basis. Global Payments employees can utilize these timeless principles to secure their financial futures.

Dave Ramsey's 'The Total Money Makeover'

Dave Ramsey's strategy starts with debt removal and consists of a number of doable actions leading up to financial recovery. 'The Total Money Makeover' presents a methodical approach to financial planning that prioritizes behavioral modification above intricate financial strategies. This book is recommended by Black Briar Advisors' Stephen Nalley for individuals looking for a disciplined route to financial freedom. Global Payments employees looking to eliminate debt and achieve financial independence will find this book particularly useful.

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Richard Carlson's 'Don't Sweat the Small Stuff...and It's All Small Stuff'

Richard Carlson's book conveys a philosophy that can have a significant influence on financial decision-making, even if it is not solely about money. It shows how important it is to keep your attention on the important things and not get too worked up over little things. Bob Chitrathorn, of Simplified Wealth Management's Wealth Planning division, values the life lessons that extend to personal money. Global Payments employees can benefit from Carlson's advice to maintain focus on their long-term financial goals.

Robert Kiyosaki's 'Rich Dad Poor Dad'

In his books, Robert Kiyosaki promotes financial wisdom and the purchase of income-producing assets rather than frivolous expenditures. Even if he doesn't share all of Kiyosaki's viewpoints, Zain Jaffer of Zain Ventures values his honest analysis on the responsible use of debt. Global Payments employees can apply Kiyosaki's lessons on investing and asset management to grow their wealth.

From strategic planning and investment to comprehending the psychological aspects of money management, each of these books presents a different perspective on personal finance. These books offer a strong basis for anyone, including Global Payments employees, wishing to improve their financial plan to build a thorough understanding of how to obtain and preserve financial independence.

The significance of estate planning in financial literacy is growing, according to recent studies, especially for people who are nearing or have already reached retirement. In 2022, the American Association of Retired Persons (AARP) conducted a survey which revealed that while more than 60% of Americans over 50 acknowledge the need of estate planning, fewer than half have revised their wills or estate plans during the previous five years. This highlights a significant void in financial literacy, which these suggested books somewhat fill by encouraging an all-encompassing method of shielding and preserving one's financial legacy.

It would be as difficult to navigate a wide ocean without a chart or compass as it would be to manage your financial destiny without assistance. Like diverse navigational instruments on a ship, the books suggested by the Kiplinger Advisor Collective serve as your navigational tools, each providing unique insights and techniques. With 'Think and Grow Rich' acting as your sextant, helping you visualize and work toward your goals, and 'The Total Money Makeover' acting as your solid helm, guiding you through the rough seas of debt, these books provide you the tools you need to set a course for prosperity and financial security when you're retired.

Global Payments employees can greatly benefit from the wisdom contained in these books. By integrating their insights into your financial planning, you can steer your financial ship towards a secure and prosperous future. Whether you're just starting your career at Global Payments or approaching retirement, these resources will help you navigate your financial journey with confidence and clarity.

What type of retirement savings plan does Global Payments offer to its employees?

Global Payments offers a 401(k) retirement savings plan to help employees save for their future.

Does Global Payments match employee contributions to the 401(k) plan?

Yes, Global Payments provides a matching contribution to employee 401(k) accounts, subject to certain terms and conditions.

What is the eligibility requirement for Global Payments employees to participate in the 401(k) plan?

Employees of Global Payments are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

Can Global Payments employees choose how their 401(k) contributions are invested?

Yes, Global Payments employees can choose from a variety of investment options within the 401(k) plan to align with their personal financial goals.

What is the maximum contribution limit for the Global Payments 401(k) plan?

The maximum contribution limit for the Global Payments 401(k) plan is subject to IRS annual limits, which can change each year.

How often can Global Payments employees change their contribution amounts to the 401(k) plan?

Global Payments employees can typically change their contribution amounts at any time, allowing for flexibility in their savings strategy.

Does Global Payments allow for loans against the 401(k) plan?

Yes, Global Payments may allow employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

What happens to my Global Payments 401(k) if I leave the company?

If you leave Global Payments, you can choose to roll over your 401(k) balance to another retirement account, leave it in the plan, or withdraw it, subject to tax implications.

Is there a vesting schedule for the Global Payments 401(k) matching contributions?

Yes, Global Payments has a vesting schedule for matching contributions, which means you earn rights to the employer match over time.

Can I access my Global Payments 401(k) funds before retirement?

While accessing your Global Payments 401(k) funds before retirement is generally discouraged, there are certain circumstances, such as financial hardship, that may allow for early withdrawals.

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 Information: Name of Pension Plan: Global Payments does not offer a traditional defined benefit pension plan as of the latest information. Instead, their retirement benefits are provided through a defined contribution plan. Years of Service and Age Qualification: Since there is no traditional pension plan, there are no specific years of service or age qualifications for a pension plan. Pension Formula: Not applicable due to the absence of a defined benefit pension plan. Source: Information about the absence of a traditional pension plan is available in the Global Payments 2023 Form 10-K, page 51. 401(k) Plan Information: Name of 401(k) Plan: Global Payments 401(k) Plan Qualification for 401(k) Plan: Employees are eligible to participate in the Global Payments 401(k) Plan after completing 30 days of service. 401(k) Plan Features: Contribution Limits: Employees can contribute up to the IRS annual limit. Company Match: Global Payments matches employee contributions up to a certain percentage, typically a percentage of the employee's salary.
Restructuring & Layoffs: In early 2024, Global Payments announced a restructuring plan aimed at streamlining operations and reducing costs. This move included the layoff of approximately 5% of its workforce, primarily affecting roles in administrative and support functions. The company cited the need to adapt to shifting market conditions and enhance operational efficiency as the primary reasons for this decision. Benefit Changes: Alongside the restructuring, Global Payments updated its employee benefits package. Changes included adjustments to healthcare plans and a reduction in retirement benefits contributions. The company stated that these modifications were necessary to maintain competitive positioning and financial stability in the face of economic uncertainties and evolving market dynamics.
Search for stock option and RSU information on Global Payments for 2022, 2023, and 2024: Look for annual reports, financial statements, and SEC filings. Identify the acronyms used for stock options and RSUs. Note who is eligible to receive stock options and RSUs at Global Payments. Document the source and page number of the information: Record the URL and specific page number from the documents where the information is located. Summarize the findings:
Check Global Payments’ official website for the most accurate and detailed information on their health benefits. Corporate Benefits Pages: Look for specific pages dedicated to employee benefits or healthcare plans on the company's site. News Websites: Search for recent news articles related to Global Payments' healthcare benefits or changes to their employee health plans. Industry Reports: Review industry reports or analysis for any insights into Global Payments' health benefits strategy. Employee Reviews and Forums: Check sites like Glassdoor or Indeed for employee feedback on the company's health benefits.
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