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Navigating Retirement: A Guide for Atmos Energy Employees

'Atmos Energy employees should carefully evaluate how state-to-state cost differences can reshape their retirement goals, as geographic decisions play a major role in long-term planning,' – Patrick Ray, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'Atmos Energy employees can benefit from comparing state and international living costs to align their retirement plans with locations that support their long-term financial goals,' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

The financial requirements for a comfortable retirement across different U.S. states— How location impacts the savings needed for retirement.
Affordable and expensive retirement destinations— A comparison of high-cost states like Hawaii versus budget-friendly states such as Arkansas.
Alternative retirement options, including international living— Exploring cost-effective retirement choices abroad.

Many Atmos Energy employees will retire after decades of service and careful financial planning. What is needed to retire comfortably varies greatly state by state, and some places require much larger reserves.

What Does Your Retirement Need?

GoBankingRates recently researched the amount needed to retire comfortably and found it to be fairly conservative. It uses data from the Federal Reserve Economic Data, the Zillow Home Value Index and the Social Security Administration.

The report examines savings needed for each age bracket assuming retirement at 65 and age 85. That assumes average Social Security payments of around USD 1,876 per month per person, which accounts for the required 20-year savings.

Cost Variations by State

For Atmos Energy workers in New Jersey, Colorado and Maryland, more than USD 1 million may be needed to live comfortably after retirement. The most expensive state is Hawaii, which requires more than USD 3 million in estimated savings to cover retirement costs including Social Security benefits.

Conversely, states like Arkansas and Mississippi have more modest retirement scenarios with estimated savings needs of less than USD 500,000. Such areas might attract retirees who want affordability with a desirable lifestyle.

Considering International Retirement?

Those open to living abroad find Mexico and Portugal an economical but fulfilling retirement option. Lower living costs, tax incentives and structured residency programs may all help with financial security in retirement.

Choosing the Right Location

Atmos Energy professionals need to consider geographic options and how they affect long-term financial security. For more on state-specific retirement affordability, visit GoBankingRates (link).

It also names top U.S. cities for retirement - Naples, Florida, or Sun City, Arizona. There is affordability, quality healthcare and a strong community life in these locations - factors that are becoming more important for retirement planning.

Final Thoughts

Atmos Energy workers may want to read the latest GoBankingRates findings about what retirement savings are needed. This analysis details financial considerations for a secure retirement - whether in West Virginia or Hawaii - a high-cost financial destination.

Planning for retirement is preparing for an extended voyage. As sailors map their routes and anticipate changes in the sea, so must retirees navigate financial landscapes to create a structured retirement plan. All states have their advantages and disadvantages, like the conditions that mariners face.

Articles you may find interesting:

Source:

1. Kiplinger Staff. The Minimum Savings You Need To Retire in All 50 States . Kiplinger, Nov. 2024, www.kiplinger.com/retirement/social-security/minimum-savings-to-retire-by-state . Accessed 15 Apr. 2025.

2. International Living Staff. Best Places to Retire in 2025: The Annual Global Retirement Index . International Living, 28 Nov. 2024, internationalliving.com/the-best-places-to-retire/. Accessed 15 Apr. 2025.

3. AARP Staff. “9 Great Affordable Places to Retire Abroad.” AARP , Feb. 2025, www.aarp.org/retirement/planning-for-retirement/info-2025/places-to-retire-abroad-cheap.html . Accessed 15 Apr. 2025.

4. Csiszar, John. “15 Most Affordable Places To Retire Abroad.” Nasdaq , 25 Aug. 2024, www.nasdaq.com/articles/15-most-affordable-places-retire-abroad . Accessed 15 Apr. 2025.

4. Investopedia Staff. Retirement Living Costs: These 6 States Will Drain Your Savings the Fastest . Investopedia, Nov. 2024, www.investopedia.com/most-expensive-states-to-retire-8729918 . Accessed 15 Apr. 2025.

What is the Atmos Energy 401(k) plan?

The Atmos Energy 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

How can I enroll in the Atmos Energy 401(k) plan?

You can enroll in the Atmos Energy 401(k) plan by accessing the employee portal and completing the online enrollment process.

Does Atmos Energy match contributions to the 401(k) plan?

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

What is the maximum contribution I can make to the Atmos Energy 401(k) plan?

The maximum contribution limit is determined by IRS guidelines, and Atmos Energy follows these limits, which may change annually.

When can I start contributing to the Atmos Energy 401(k) plan?

Employees at Atmos Energy can start contributing to the 401(k) plan after they have completed their eligibility requirements, typically within the first few months of employment.

What investment options are available in the Atmos Energy 401(k) plan?

The Atmos Energy 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How can I change my contribution percentage in the Atmos Energy 401(k) plan?

You can change your contribution percentage by logging into the employee portal and updating your 401(k) settings.

Is there a vesting schedule for Atmos Energy's matching contributions?

Yes, Atmos Energy has a vesting schedule for matching contributions, which means you will earn ownership of those contributions over time.

Can I take a loan from my Atmos Energy 401(k) plan?

Yes, Atmos Energy allows employees to take loans from their 401(k) accounts under certain conditions outlined in the plan.

What happens to my Atmos Energy 401(k) if I leave the company?

If you leave Atmos Energy, you have several options for your 401(k) funds, including rolling them over to another retirement account, cashing out, or leaving them in the Atmos Energy plan if permitted.

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For more information you can reach the plan administrator for Atmos Energy at 5430 LBJ Freeway, Suite 1400 Dallas, TX 75240; or by calling them at +1 888-286-6700.