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Why OneMain Holdings Employees Can Thrive in Retirement Without a Bucket List

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The first few years of retirement are frequently a time of transitions for many, including those leaving OneMain Holdings. It is a critical period that can influence the next few decades financially and emotionally. At the age of sixty-six, Wall Street Journal distinguished editor Stephen Kreider Yoder announced his retirement. His wife, sixty-seven-year-old Karen Kreider Yoder, followed suit. Their experiences, highlighted in the 'Retirement Rookies' column each month, demonstrate a departure from conventional retirement preparation. They emphasize crafting adaptable, meaningful experiences that serve as a foundation for future undertakings over following predetermined bucket lists.

This approach to retirement highlights a larger movement among individuals reimagining their post-employment years. By focusing on personal development and continual exploration, retirees can ensure a fuller, more satisfying experience. This narrative offers invaluable insights for OneMain Holdings employees looking to maximize their life-changing retirement years.

Recent studies by the American Psychological Association (APA) underline the advantages of the Yoders' method of unstructured retirement planning. The research indicates that retirees adhering rigidly to their pre-planned bucket lists report lower levels of satisfaction and fulfillment compared to those who engage in activities based on their own interests and whims. This suggests that a flexible retirement lifestyle can lead to more fulfilling and significant experiences, an important consideration as employees transition from structured careers to the freedom of retirement.

In the Retirement Rookies column, Stephen and Karen Kreider Yoder share their journeys and offer a fresh perspective on retirement planning. Learn why they're passing on typical bucket lists in favor of flexible, meaningful experiences, and how this strategy might enhance your post-work years at OneMain Holdings. Discover how embracing an unstructured retirement can lead to increased contentment and pleasure, setting the stage for a rewarding future.

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Forgoing a conventional retirement plan is akin to sailing a ship without a defined course. Retirees like the Yoders choose to navigate the waters of their golden years with the liberty to uncover new horizons as they appear, rather than charting every port of call. This method, much like a sailor discovering new adventures in uncharted waters, allows them to encounter unexpected joys and experiences, enriching each day with personal growth and satisfaction.

What is the 401(k) plan offered by OneMain Holdings?

The 401(k) plan at OneMain Holdings is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.

Does OneMain Holdings match employee contributions to the 401(k) plan?

Yes, OneMain Holdings offers a company match on employee contributions to the 401(k) plan, which helps employees save for retirement more effectively.

What is the eligibility requirement for OneMain Holdings' 401(k) plan?

Employees of OneMain Holdings are eligible to participate in the 401(k) plan after completing a specified period of service, typically outlined in the employee handbook.

How can employees at OneMain Holdings enroll in the 401(k) plan?

Employees can enroll in the OneMain Holdings 401(k) plan through the company's benefits portal or by contacting the HR department for assistance.

What types of investment options are available in the OneMain Holdings 401(k) plan?

The OneMain Holdings 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles tailored to different risk levels.

Can employees at OneMain Holdings take loans against their 401(k) savings?

Yes, OneMain Holdings allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan documents.

What happens to my 401(k) savings if I leave OneMain Holdings?

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

Is there a vesting schedule for the company match in the OneMain Holdings 401(k) plan?

Yes, OneMain Holdings has a vesting schedule for the company match, which determines how much of the employer's contributions you own based on your length of service.

How often can employees at OneMain Holdings change their 401(k) contribution amounts?

Employees can change their 401(k) contribution amounts at OneMain Holdings during designated enrollment periods or as allowed by the plan guidelines.

Does OneMain Holdings provide financial education resources for employees regarding the 401(k) plan?

Yes, OneMain Holdings provides financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.