One of the most important things to plan for in retirement is healthcare. Essentially, how are you going to pay for medical costs that will only rise as you grow older?
Don’t let anyone tell you that your birthday is just another day. Each revolution around the sun may mean greater access to your retirement savings and other assets. That’s worth celebrating. As you start to prepare for retirement from AT&T, there are some birthdays that are more important than others.
In November, the interest rate used to calculate AT&T pension payouts – the Composite Corporate Bond Rate – was lowered to 2.94%. That means, if you’re an AT&T employee who may retire between now and the end of the year and would like to elect a lump sum, your payout may be larger than last year.
A refrain that best describes estate planning is that it’s not about the years you have left, it’s about the years you have lived. As an AT&T employee or retiree, you’ve likely earned a variety of valuable retirement benefits, such as your AT&T pension and your 401(k) savings. Although thinking about life after you’re gone can be difficult, it becomes easier when you reframe it as planning how to successfully manage all you’ve worked hard for.
If all goes according to plan. Those are the rose-colored words people commonly say when they think they’ve got retirement fully covered. If all goes according to plan, I’m all set for retirement. They are often spoken by people who expect to retire with a sizeable pension or some kind of financial windfall, such as from selling a business.
A steak dinner and guaranteed money for life. Who could say no? As AT&T employees near retirement age, they are often invited to seminars – dinner included! – to learn about something that can supposedly allay all their retirement fears. That something is annuities.
According to the Employee Benefit Research Institute’s latest Retirement Confidence Survey, two-thirds of workers are confident they have enough to live comfortably in retirement. The same number of workers surveyed are confident they are doing a good job saving for retirement and know how much they will need. But, only four in 10 workers have actually tried to calculate how much they need, which can be a costly mistake.
Planning for retirement doesn’t come naturally. It is very much an educational process. So, how can AT&T employees get a head start on learning what it takes to retire from AT&T? We’ve created this A-to-Z glossary to share with you the most important pieces of information that have helped our clients retire from AT&T.
Contrary to popular belief, early retirement is relatively common. According to a Transamerica survey, 56% of retirees said they retired earlier than planned. (Early retirement is defined as age 55 or younger.)