Take a fresh look at your financial habits

Taking control of your finances requires having a game plan, knowing the right moves, and recognizing the right time to make those moves. Throughout April, we’re celebrating National Financial Literacy Month by highlighting resources available through the Plan that can help you build confidence in your ability to make smart financial moves.

Improving your financial literacy can help you identify habits to develop as you work toward financial wellness and retirement readiness. Our resources can help during any life stage.

Enroll in your retirement plan. Time is a key ingredient in compounding, which can help you grow your money exponentially over time. Even a small contribution per pay can potentially grow your account significantly through several decades. The longer you wait, the more you will have to save per pay to achieve your financial goals for retirement.

Learn how easy it is to save through the Plan. Contributions are made through automatic deduction, before you receive your paycheck. If you need further information on these options so you can decide what's right for you, contact us or your tax professional.

Get acquainted with our tools and calculators. These resources can help you make informed decisions about how much you can afford to contribute, decide which investment options in the Plan may be right for you and experience enhanced flexibility and precision in your retirement and financial planning through My Income & Retirement Planner®.

Use My Income & Retirement Planner® regularly. Through information you enter, the Planner makes it easy to gauge how you are doing and explore ways that can help ensure that you reach your goals. When you’re ready for more comprehensive planning, the Planner offers robust features to help you get a clearer outlook of your overall financial future.

Build a budget, if you don’t have one, so you can make smart moves about your finances. If you already follow a budget, review it to identify how you may be able to regularly increase contributions to your Plan account.

Consider how well you’re managing debt. Assessing your debt, calculating your debt-to-income ratio and committing to debt payoff can be a smart way to move toward better financial future. Our practical steps can put you in charge.

If you are age 50 or older, making catch-up contributions can be a smart move. These extra contributions beyond the standard annual IRS limit are designed to help you increase the financial resources available to you as you get ready to transition into retirement.

Many workers approaching retirement have enjoyed careers that lasted 30 or more years. Your retirement savings may need to last at least that long. Spending too much too early in retirement may drain your savings faster than expected. That's why a withdrawal strategy is often considered ahead of retirement. Schedule an appointment for an opportunity to discuss the approach in more detail.

Staying in the Plan in retirement can be a valuable option to consider. You may continue to have access to the same support and fee structure you had during your working years. You’ll also allow your money to potentially keep growing — and still have access to it when you need it. Contact us to discuss the benefits of continued participation in the Plan.

Consider creating an estate plan to protect your assets for you and your loved ones. We have ideas to help you get started. Schedule an appointment with us today.

We offer a wealth of resources to help you be successful. When you’re ready to take a fresh look at how you’re preparing
for retirement and to take control of your overall financial wellness, contact us.

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