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Navigating Retirement: A Guide for Hilton Grand Vacations Employees

'Hilton Grand Vacations 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.

'Hilton Grand Vacations 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 Hilton Grand Vacations 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 Hilton Grand Vacations 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

Hilton Grand Vacations 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

Hilton Grand Vacations 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 401(k) plan offered by Hilton Grand Vacations?

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

Does Hilton Grand Vacations match contributions to the 401(k) plan?

Yes, Hilton Grand Vacations offers a company match on employee contributions to the 401(k) plan, helping to enhance your retirement savings.

When can I enroll in the Hilton Grand Vacations 401(k) plan?

Employees at Hilton Grand Vacations can enroll in the 401(k) plan during the initial onboarding process or during the annual open enrollment period.

How much can I contribute to the Hilton Grand Vacations 401(k) plan each year?

The contribution limits for the Hilton Grand Vacations 401(k) plan are set by the IRS and can change annually. Employees should check the latest IRS guidelines for the current limits.

Can I change my contribution amount to the Hilton Grand Vacations 401(k) plan?

Yes, employees can change their contribution amounts to the Hilton Grand Vacations 401(k) plan at any time, subject to plan rules.

What investment options are available in the Hilton Grand Vacations 401(k) plan?

The Hilton Grand Vacations 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.

Is there a vesting schedule for the Hilton Grand Vacations 401(k) company match?

Yes, Hilton Grand Vacations has a vesting schedule for the company match in the 401(k) plan, which means employees must work for a certain period before they fully own the matched funds.

Can I take a loan from my Hilton Grand Vacations 401(k) plan?

Yes, employees may have the option to take a loan from their Hilton Grand Vacations 401(k) plan, subject to the plan's terms and conditions.

What happens to my Hilton Grand Vacations 401(k) plan if I leave the company?

If you leave Hilton Grand Vacations, you can either cash out your 401(k), roll it over into another retirement account, or leave it in the Hilton Grand Vacations plan if you meet certain criteria.

How can I access my Hilton Grand Vacations 401(k) plan account information?

Employees can access their Hilton Grand Vacations 401(k) plan account information online through the plan's designated website or mobile app.