New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Navigating Retirement: A Guide for Graham Holdings Employees

'Graham Holdings 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.

'Graham Holdings 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 Graham Holdings 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 Graham Holdings 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

Graham Holdings 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

Graham Holdings 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 types of retirement plans does Graham Holdings offer to its employees?

Graham Holdings offers a 401(k) Savings Plan as part of its retirement benefits for employees.

How can I enroll in the 401(k) Savings Plan at Graham Holdings?

Employees can enroll in the Graham Holdings 401(k) Savings Plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.

Does Graham Holdings match employee contributions to the 401(k) Savings Plan?

Yes, Graham Holdings provides a matching contribution to the 401(k) Savings Plan, which enhances the savings potential for employees.

What is the maximum contribution limit for the 401(k) Savings Plan at Graham Holdings?

The maximum contribution limit for the Graham Holdings 401(k) Savings Plan aligns with IRS regulations, which may change annually.

When can I start contributing to the Graham Holdings 401(k) Savings Plan?

Employees can typically start contributing to the Graham Holdings 401(k) Savings Plan after completing their initial onboarding period.

Can I change my contribution percentage to the 401(k) Savings Plan at Graham Holdings?

Yes, employees at Graham Holdings can change their contribution percentage at any time, subject to the plan’s guidelines.

What investment options are available in the Graham Holdings 401(k) Savings Plan?

The Graham Holdings 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Is there a vesting schedule for the matching contributions at Graham Holdings?

Yes, Graham Holdings has a vesting schedule for matching contributions, which means employees must work for the company for a certain period to fully own those contributions.

How can I access my account information for the Graham Holdings 401(k) Savings Plan?

Employees can access their account information for the Graham Holdings 401(k) Savings Plan through the plan’s online portal or by contacting the plan administrator.

What happens to my 401(k) Savings Plan if I leave Graham Holdings?

If you leave Graham Holdings, you will have several options regarding your 401(k) Savings Plan, including rolling it over to another retirement account or leaving it in the plan, depending on the balance.