Anne Tergesen
speaker
4,485 appearances
83 recordings
1 series
first heard Jul 2017
last heard Feb 2025
Anne Tergesen’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
WSJ Your Money Briefing · Money Moves for the New Year: Gearing Up for Retirement · 27 Dec 2024
podcast
The time comes and it's not a dramatic thing.
For other people, you know, especially people who really love their jobs, it can be a very difficult decision and people probably go back and forth and it's very easy to delay it.
But maybe at a certain point, people just need to embrace it and also to have confidence that if they have really put a lot of preparation and planning into it from the
financial perspective.
Yes, there are going to be good years and bad years in the market, but hopefully the planning that you've done is sort of something that enables you to kind of ride out the bad times and hopefully with adequate foresight.
It's something ultimately that people have to just take the plunge and look forward to seeing what's on the other side and maybe trying something new or maybe trying something that they left behind or something that they have a pent-up desire to try to explore, if only taking their time and
having their morning coffee at a more leisurely pace, going for walks with friends.
There's a world of new things to explore for a lot of people.
The median job switcher gets a significant raise, like a 10% raise when they move from one company to another, but their 401k savings rate goes down by almost a percentage point.
There's that sort of mismatch of here you are progressing through your career, you're getting a nice big raise, but you're allowing your 401k savings rate to slip down, which isn't ideal.
Financial advisors will recommend that people save about 12% to 15% of their pay annually over a 30-year career.
That's said often because of company matching contributions.
If the employee saves about 10% of pay, the match will often be enough to get them within that 12% to 15% range.
It just depends on the person.
People who are very engaged in their retirement savings, if they leave a job and they're saving 10% of pay, those people often will sign up for the next 401k plan, or maybe they're automatically enrolled in the next 401k plan.
And they make sure that they go in there and they adjust their savings rate to the 10% that they were saving at before.
Or maybe they even raise that savings rate if they feel
But there's a lot of people who are not actively engaged.
And for those people, when they change a job, if the next employer, the new employer requires them to sign up for the 401k plan, considerable percentage of those people just never sign up.
You know, it's like they have every intention of doing it, but they don't get around to it.
Showing 161–180 of 4,485 · page 9 of 225
← Previous
Next →