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The Least Favorable U.S. States for Retirees from [Company Name]: What You Need to Know

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Healthcare Provider Update: Morgan Stanley Healthcare Provider and Cost Outlook for 2026 Morgan Stanley's healthcare needs are addressed primarily through UnitedHealthcare, with employees benefiting from a range of plans tailored to meet their medical and wellness requirements. As 2026 approaches, Morgan Stanley employees should prepare for significant increases in healthcare costs. Premiums for Affordable Care Act (ACA) plans are projected to rise sharply, with some states seeing hikes exceeding 60%. This inflation is largely attributed to the expiration of enhanced federal subsidies and a general trend of escalating medical costs, which could lead to many individuals experiencing a staggering 75% increase in out-of-pocket expenses. Consequently, careful review of benefit options and proactive financial planning will be key for employees navigating this challenging landscape. Click here to learn more

Choosing the ideal place to retire is a critical decision that impacts both financial stability and quality of life. While smaller states are often seen as ideal retirement destinations, Alaska has been ranked the least favorable region for the third consecutive year in  Bankrate's 2024 study  of the best U.S. states for retirement.

To determine the most and least favorable states for retirement, Bankrate employed a comprehensive method that included multiple data sources such as the Council for Community and Economic Research, the U.S. Census Bureau, the Tax Foundation, and the National Oceanic and Atmospheric Administration. The study evaluates each state across five key dimensions with weights assigned that reflect their importance to future retirees: affordability (40%), overall well-being (25%), health quality and costs (20%), weather (10%), and crime (5%).

In terms of affordability, Alaska poses significant challenges, especially for those on fixed incomes like many retirees from Morgan Stanley. The cost of living in Alaska is about 30% higher than the national average, according to RentCafe. Specifically, housing expenses exceed the national average by 17%, while energy and healthcare costs are nearly twice as high. Despite these expenses, Alaska offers some financial benefits due to the absence of state income tax, inheritance tax, and it does not tax pensions or Social Security retirement benefits.

However, the country's weather conditions negatively impact its ranking. Summers can be mild with temperatures ranging from 45 to 75 degrees Fahrenheit, while winters are harsh, with temperatures dropping to as low as -10 degrees Fahrenheit. These extreme conditions can be a barrier for those seeking a comfortable and accessible living environment in their later years, including former Morgan Stanley employees looking for a peaceful retirement.

Crime rates also play a role in the evaluation, with Alaska considering its rate of property and violent crimes per 100,000 residents. Safety is a paramount concern for retirees, making states with lower crime rates more attractive for those transitioning from careers at Morgan Stanley to retirement.

The study highlights not only the least favorable states but also underscores the importance of considering multiple factors beyond just costs when selecting a retirement location. It is crucial to have strong social and community engagement opportunities. Kerry Hannon, a retirement specialist mentioned in the study, emphasizes the importance of community and human connections for healthy aging, advising against isolation and loneliness.

For those facing complex decisions related to retirement planning, tools such as CNBC Make It's  retirement calculator  are indispensable. This tool helps assess the savings needed for retirement based on current age, savings, income, and desired retirement age. It is essential to consider both financial and non-financial aspects when planning for retirement, to ensure a balanced approach that promotes both financial security and a fulfilling life post-career, particularly for Morgan Stanley professionals.

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Individuals seeking more information on financial planning and retirement strategies could benefit from resources like CNBC's online course titled 'Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure.' This course offers tips on managing financial stress, establishing good habits, and optimizing savings and investments to ensure future stability. An introductory discount is available, offering early access benefits until September 2, 2024.

In summary, although Alaska may offer some tax advantages, its high cost of living, challenging weather conditions, and security concerns make it less attractive for retirees. This analysis highlights the importance of a comprehensive approach to selecting a local retirement location, balancing economic factors with lifestyle preferences and community characteristics.

Despite the drawbacks highlighted in states like Alaska, an often-overlooked aspect is the opportunity to enjoy natural beauty and serenity, which can significantly enhance psychological well-being—an essential element for retirees. A  2021 study  by the American Psychological Association noted that natural environments are associated with lower levels of stress hormones, making it an appealing reason for retirees to consider the beauty of their retirement destination alongside other practical aspects.

What is the 401(k) plan offered by Morgan Stanley?

The 401(k) plan at Morgan Stanley is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

Does Morgan Stanley match employee contributions to the 401(k) plan?

Yes, Morgan Stanley offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.

What is the maximum contribution limit for Morgan Stanley's 401(k) plan?

The maximum contribution limit for Morgan Stanley's 401(k) plan is in line with the IRS limits, which may change annually. Employees should check the latest IRS guidelines for the current limit.

Can employees at Morgan Stanley take loans against their 401(k) savings?

Yes, Morgan Stanley allows employees to take loans against their 401(k) savings under certain conditions, subject to the plan's rules.

What investment options are available in Morgan Stanley's 401(k) plan?

Morgan Stanley's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to tailor their investment strategy.

How can employees at Morgan Stanley enroll in the 401(k) plan?

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

Is there a waiting period for new employees to join Morgan Stanley's 401(k) plan?

Morgan Stanley typically allows new employees to enroll in the 401(k) plan immediately or within a short period after their start date, but specific details can vary.

How often can employees change their contribution amount to Morgan Stanley's 401(k) plan?

Employees at Morgan Stanley can change their contribution amount to the 401(k) plan on a regular basis, usually at any time during the year.

What happens to my 401(k) savings if I leave Morgan Stanley?

If you leave Morgan Stanley, 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 Morgan Stanley plan if permitted.

Does Morgan Stanley provide financial education regarding the 401(k) plan?

Yes, Morgan Stanley offers financial education resources and tools to help employees understand their 401(k) plan and make informed investment decisions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Morgan Stanley is a global financial services firm providing investment banking, securities, wealth management, and investment management services. The company is recognized for its comprehensive financial solutions.
Morgan Stanley offers RSUs and stock options to eligible employees. The stock options vest over time, providing long-term incentives.
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