What Newell Brands Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Newell Brands: Newell Brands employees often utilize a healthcare plan through large national insurers such as UnitedHealthcare, Anthem, and Cigna. Specific offerings can vary based on the employee's location and the plan they choose, and Newell typically provides a comprehensive suite of benefits focused on preventive care, wellness, and prescription medications. Potential Healthcare Cost Increases in 2026: As we approach 2026, Newell Brands employees should brace for significant healthcare cost increases. Premiums in the ACA marketplace are anticipated to rise sharply, with some states seeing hikes over 60%. This surge is primarily driven by expiring federal subsidies and increasing medical costs, leading to a potential 75% increase in out-of-pocket expenses for individuals reliant on these plans. Employees should proactively review their benefit options and strategize to manage these heightened healthcare expenses, considering changes in deductibles and out-of-pocket maximums that employers may implement in response to rising costs. Click here to learn more

For example, Newell Brands employees planning on moving overseas need to have a clear plan of action to overcome the challenges of acquiring residency and citizenship in another country,' according to Brent Wolf from The Retirement Group at Wealth Enhancement Group.

Kevin Landis of The Retirement Group, a division of Wealth Enhancement Group, explains why detailed planning is crucial for Newell Brands employees who intend to retire abroad. However,

In this article we will discuss:

1. The complexity of obtaining residency or citizenship abroad: Discussing the legal, financial, and cultural issues that are involved in moving overseas for Newell Brands employees.

2. The necessity of professional advice and planning: Emphasizing the importance of thorough preparation and professional advice to ensure a smooth transition to retiring abroad.

3. Tax advantages and financial planning for retirees: Explaining the possible tax advantages that are available through international treaties and the strategic financial planning that needs to be done for the retirement savings of Newell Brands employees.

Simply for political, economic, and social reasons, many Newell Brands employees are looking to secure citizenship or residency in other countries if the United States is not as attractive as it once was. But, getting residency in another country and, perhaps, citizenship is not as simple as just buying a plane ticket and setting an itinerary.

This is because there are many processes that may take a few years to accomplish at times. The more people who are considering these options, the more difficult these choices become. It is therefore crucial to identify the legal, financial, and cultural implications that arise in order to ensure a smooth transition to a new home overseas before embarking on this journey.

Without a proper plan and some professional advice, it can be quite a challenge to switch gears and retire during your tenure at Newell Brands.

The impact of potential tax advantages when retiring abroad will definitely affect your financial position. Many countries, including the United States, have tax treaties that prevent income from being taxed twice. For instance, pensioners are attracted to Portugal by the Non-Habitual Resident (NHR) regime that offers special tax concessions for up to 10 years.

You can enhance your retirement benefits by taking advantage of these perks and seeking the advice of a tax specialist. The IRS notes that because these treaties can be very different it is important to research and seek the advice of a professional (IRS, 2023). These advantages must be used by Newell Brands employees to enhance their retirement.

Expatriating and retiring is a process of planning a long and beautiful road trip. Just as you would not travel without a map, a well-maintained car, and knowledge of your location, Newell Brands employees who are retiring abroad need to plan carefully.

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Step by step, you will be guided on how to make your transition to your new home easier, from explaining cultural differences and tax benefits to helping you understand the legal and financial environment. Just as a road trip opens new views and experiences, retirement abroad presents a world of possibilities for a happy and comfortable retirement.

Sources:

1. The Warren Street Wealth Advisors Team. 'Newell Brands and Large Company Employees.' Warren Street Wealth Advisors, 3 Feb. 2025, Accessed from warrenstreetwealth.com.

2. 'US Taxes for Americans Retiring Abroad in 2025.' MyExpatTaxes, 20 Nov. 2024, Accessed 3 Feb. 2025 from myexpattaxes.com.

3. Toms, Mary, CPA, MBA, MS. 'US Tax Implications of Retiring Abroad: What You Need to Know.' PBMares, 10 Dec. 2024, Accessed 3 Feb. 2025 from pbmares.com.

4. 'Financial Planning for US Expatriates.' The Expat Financial, Accessed 3 Feb. 2025 from expatfinancial.com.

5. 'Retiring Overseas: What You Need to Know About Your US Taxes and Financial Planning.' Expat CPA, Accessed 3 Feb. 2025 from expatcpa.com.

   What type of retirement plan does Newell Brands offer to its employees?

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

   Does Newell Brands match employee contributions to the 401(k) plan?

   Yes, Newell Brands provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

   What is the eligibility requirement to participate in Newell Brands' 401(k) plan?

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

   How can Newell Brands employees enroll in the 401(k) plan?

   Newell Brands employees can enroll in the 401(k) plan through the company’s HR portal or by contacting their HR representative for assistance.

   What investment options are available in Newell Brands' 401(k) plan?

   Newell Brands offers a variety of investment options within the 401(k) plan, including mutual funds, target-date funds, and company stock, allowing employees to diversify their portfolios.

   Can Newell Brands employees take loans against their 401(k) savings?

   Yes, Newell Brands allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.

   What is the vesting schedule for Newell Brands' 401(k) matching contributions?

   The vesting schedule for Newell Brands' 401(k) matching contributions typically follows a graded vesting schedule, which means employees earn ownership of the match over a period of time.

   Are there any fees associated with Newell Brands' 401(k) plan?

   Yes, Newell Brands' 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents provided to employees.

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

   Newell Brands employees can change their contribution amounts to the 401(k) plan during designated enrollment periods or as allowed by the plan's rules.

   What happens to my 401(k) savings if I leave Newell Brands?

   If you leave Newell Brands, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out, or leaving it in the Newell Brands plan if allowed.