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Prioritizing Personal Fulfillment: A New Retirement Approach for Blue Cross Blue Shield Employees

Blue Cross Blue Shield employees should take Jay Zigmont’s message to heart by embracing a retirement centered on personal fulfillment rather than obligatory inheritance, says Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement, who emphasizes the importance of aligning financial plans with values that bring meaning and joy in the present.

Blue Cross Blue Shield employees should recall that true financial success isn't just about preserving wealth for others. As noted by Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement, who echoes Jay Zigmont's message, it's about using that wealth to create a fulfilling, experience-rich retirement that honors the life you've worked so hard to build.

In this article, we will discuss:

Why Jay Zigmont challenges the traditional notion of leaving large inheritances.
How Blue Cross Blue Shield employees can prioritize personal happiness over leaving a financial legacy.
The growing trend of valuing meaningful experiences over wealth transfer in retirement.

Jay Zigmont, a licensed financial planner and author, challenges traditional views on inheritance and wealth accumulation when it comes to financial management. In an episode of Morningstar's podcast, The Long View, Zigmont introduced a persuasive perspective that questions the merit of leaving sizable inheritances, particularly under strained family conditions. Instead, he emphasizes using accumulated wealth to improve one's own life rather than as a means to mend relationships or to gain affection.

In his book The Childfree Guide to Life and Money, Zigmont initially targeted childless individuals. Now, his insights extend to Blue Cross Blue Shield employees and others who may have heirs less appreciative of their efforts to amass wealth. He critiques the traditional financial planning approach that emphasizes leaving a monetary legacy for such heirs as overly idealistic.

Zigmont promotes prioritizing personal happiness over leaving financial legacies. He encourages spending on activities that bring joy, freedom, and comfort, and supporting those who genuinely value such generosity. His clear message: Blue Cross Blue Shield employees who have spent years building their wealth should feel entitled to enjoy their earnings without the obligation of leaving an inheritance, particularly to those who may seem indifferent or ungrateful.

Zigmont's philosophy prompts a reevaluation of one's financial planning objectives. He suggests using wealth to improve personal living standards rather than repairing broken relationships or leaving a financial legacy for future generations. Ultimately, he proposes that a life rich in satisfaction and meaningful experiences is the most valuable legacy one can leave.

Research by the National Endowment for Financial Education reveals that about 70% of seniors who focused on enriching personal experiences reported higher satisfaction in retirement compared to those who concentrated on wealth transfer. This correlation underscores the significance of personal fulfillment in one's later years. The emerging trend of prioritizing living fully over leaving inheritances is gaining traction, suggesting a shift towards more rewarding post-career lives.

Explore Jay Zigmont's innovative financial approach, which advocates for relishing life's simple pleasures rather than accumulating wealth for ungrateful heirs. Discover how you, as a Blue Cross Blue Shield employee, can redefine your retirement years by focusing more on meaningful experiences and personal satisfaction. Understand why an inheritance is not mandatory and learn the benefits of investing wisely in what truly enriches your life.

Consider the wealth you've accumulated like a beautiful, expansive garden you've nurtured over many years. You could open the gates for garden parties, enjoying the colors, fragrances, and company of those who truly appreciate the garden's splendor, or you could keep the gates closed, preserving every bloom for future generations who may not value its beauty. Zigmont's advice leans towards the former: rather than saving everything for successors who may not recognize the effort and love invested, use your resources to enhance your life now and create joyful memories. This approach allows your golden years to flourish beautifully, filled with cherished moments and personal happiness.

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Sources:

1. Business Insider. Spend More to Avoid Dying Rich If You Don’t Have Kids, Says This Financial Guru. Business Insider , 5 Apr. 2025.

2. Business Insider. I Asked 200 Retirees for Their Best Advice. The Biggest Tip Had Nothing to Do with Money. Business Insider , 6 Apr. 2025.

3. Morningstar Podcast Team. Dr. Jay Zigmont: Handling Your Finances When You Don’t Have Kids. Morningstar , 2 Apr. 2025.

4. Zigmont, Jay, PhD, MBA, CFP®. The Childfree Guide to Life and Money: Make Your Finances Simple So Your Life Without Kids Can Be Amazing . The American College, 31 Dec. 2024.

5. Fortune. Retirement Is Becoming Just the 'Third Half' of Life. Here Are the 4 Key Mindsets We've Identified Among the New Generation of Retirees. Fortune , 7 Mar. 2024.

What type of retirement savings plan does Blue Cross Blue Shield offer to its employees?

Blue Cross Blue Shield offers a 401(k) retirement savings plan to help employees save for their future.

How can employees of Blue Cross Blue Shield enroll in the 401(k) plan?

Employees can enroll in the Blue Cross Blue Shield 401(k) plan by completing the enrollment process through the company’s HR portal.

Does Blue Cross Blue Shield provide any matching contributions to the 401(k) plan?

Yes, Blue Cross Blue Shield offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

What is the eligibility requirement for employees to participate in Blue Cross Blue Shield's 401(k) plan?

Employees are typically eligible to participate in Blue Cross Blue Shield's 401(k) plan after completing a specified period of service, as outlined in the plan documents.

Can employees of Blue Cross Blue Shield change their contribution percentage to the 401(k) plan?

Yes, employees can change their contribution percentage to the Blue Cross Blue Shield 401(k) plan at any time, subject to the plan's guidelines.

What investment options are available in Blue Cross Blue Shield's 401(k) plan?

Blue Cross Blue Shield offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.

Is there a vesting schedule for the employer match in Blue Cross Blue Shield's 401(k) plan?

Yes, Blue Cross Blue Shield has a vesting schedule for employer matching contributions, which determines when employees gain full ownership of those funds.

How can employees access their 401(k) account information at Blue Cross Blue Shield?

Employees can access their 401(k) account information through the online portal provided by Blue Cross Blue Shield’s retirement plan administrator.

Are there any fees associated with Blue Cross Blue Shield's 401(k) plan?

Yes, there may be administrative fees associated with the Blue Cross Blue Shield 401(k) plan, which are disclosed in the plan documents.

What happens to an employee's 401(k) balance if they leave Blue Cross Blue Shield?

If an employee leaves Blue Cross Blue Shield, they have several options for their 401(k) balance, including rolling it over to another retirement account or leaving it in the Blue Cross Blue Shield plan if permitted.

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For more information you can reach the plan administrator for Blue Cross Blue Shield at "225 north michigan ave. " Chicago, IL 60601; or by calling them at 888-630-2583.