Planning for retirement


Retirement. You've worked hard, and now you want to bring your vision for retirement into better focus. Use your PayPal resources to help you map out the retirement you want. Remember, it is never too early to start planning for when you stop working.

Planning starts now

Your chances of a secure retirement will improve if you start making decisions and checking items off your to-do list at least a year before you want to retire.

Consider these questions as you begin planning:

  • At what age do I plan to retire?
  • What do I want to do in retirement?
  • When do I want to retire?
  • How much money will I need to save by the time I retire?
  • How much will I need to invest every month to hit my retirement goals?
  • Which retirement accounts should I use?
  • What should I be investing in within my retirement accounts?
  • What about medical expenses and long-term care in retirement?

18 months+ to retirement

Develop your plan for generating income while in retirement, and contact your financial advisor to discuss your options. If you don’t have a financial advisor, our partners at Schwab Retirement Plan Services and Ayco provide one-on-one financial coaching and can help you create a realistic budget for your retirement expenses. These resources are available to all eligible PayPal employees at no cost.

Start with the fundamentals, and get a big-picture overview of what it takes to help generate retirement income that lasts.

Accurately predicting how much money you need in retirement begins with a clear understanding of what your expenses might be.

12 months to retirement

But first, your health

Evaluate your health: To get the most out of your retirement — and life in general — you want to be as healthy as possible. And while few of us enjoy doctors' visits, a little preventive care can go a long way.

Schedule your checkups and preventive exams now, such as your annual physical and teeth cleanings. At each appointment, discuss with your provider how to improve or maintain your health.

Need more personalized assistance? PayPal offers several resources to help you navigate your medical plan and make sure you’re getting the best care possible.

PayPal also offers wellness coaching through Vida. Get personalized help in reaching your wellness goals now, as you prepare for retirement.

Tap into these trusted financial resources

Review your investments to make sure they align with your retirement plans. Access the Schwab Retirement Plan Services website, or call the Schwab Plan Hotline at 800-724-7526.  Participant service representatives are available weekdays, from 4 a.m. to 8 p.m. PT.

Schwab has prepared a Pre-Retirement Playbook as a resource to help guide you through the transition into retirement. Additionally, Schwab offers great tools designed to help you with your long-term financial planning. Use the retirement calculator and other great resources by visiting the Schwab website.

Watch on-demand webinars specifically about retirement planning on, which you can access at any time.

9 months to retirement

Find out about your Social Security benefits. Create a my Social Security account to see that your work history is listed accurately and to see how much you should expect in a benefit check each month.

Visit an office near you, or you can apply for retirement benefits online. Social Security retirement benefits replace about 40 percent of a median wage earner’s income after retiring. Additionally, paying attention to the timing of when to file for Social Security could mean increased benefits for married couples.

Estimate your benefit by using the retirement estimator on the Social Security Administration’s website. For more information, visit the Social Security website or call 800-772-1213.

If you haven’t connected with a financial advisor, do so now. PayPal offers all eligible employees access to one-on-one financial coaching through our partnership with Ayco at no cost to you.

6 months to retirement

Look into health care options, and prepare for the cost of medical care in retirement.

Get a better understanding of Medicare by reviewing this Medicare Overview video and the US government's Medicare & You handbook.

Have a Health Savings Account (HSA)?  If you have an HSA and want to keep contributing to it, do not sign up for Medicare until you retire. If you’re currently enrolled in the CDHP with HSA at PayPal and are enrolling in Medicare, contact YBR at 844-474-6641 to inform them of your Medicare enrollment.

Retiring before age 65? You may have to keep insurance in place until you're eligible for Medicare.

Options to consider

Stay on a spouse's plan. If your spouse or partner is still working and has employer-sponsored coverage, this is likely the cheapest way to stay insured.

COBRA. If you retire within 18 months before you become eligible for Medicare, you can use PayPal’s COBRA coverage to bridge the gap. Have questions about COBRA and Medicare coordination, like which insurance would be considered primary coverage if you elect COBRA? Visit the Medicare Interactive website to learn more.

Buy insurance on the open market or through a professional association. All states now have exchanges where you can buy coverage from private insurers, and many associations offer group insurance coverage.

3 months to retirement

Talk to your manager about your retirement plans. Be sure to schedule time to review your transition planning too.

Finalize your Social Security strategy. If you need your Social Security to start right after you stop working, make your application now.

Finalize your retirement health care plan. Look into Medicare supplemental coverage and long-term care coverage, and determine if it is right for you.

The transition into retirement is a major life change. If you are experiencing stress and anxiety, PayPal’s Employee Assistance Program can help. Receive confidential counseling sessions to help you manage this transition.

2 months to retirement

As you prepare to transition out of your role, visit the Leaving PayPal page on the Bridge to prepare for your departure.

Review the termination checklist for additional guidance.

1 month to retirement

Confirm your departure date with your manager.

Start packing! Make sure to visit the Leaving PayPal page on the Bridge for additional information and resources.

You’ve made it. Congratulations as you embark on this next phase of your life!

How to complete the Medicare form

  1. Contact YBR at 844-474-6641 and ask them to complete Medicare form L564.
  2. Within five business days, YBR will complete the form, send it to your address on file, and contact you once it has been mailed.
  3. When you receive the form, send a copy to the Medicare office, and keep a copy for your records.

If retirement is further in your future, you can still start planning. If you are nearing 50, learn about 401(k) catch-up contributions, and give your retirement savings an extra boost.

Provider contact information

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