Saving enough for the future doesn’t happen overnight. That’s why it’s so important to keep taking small steps now that can make a big difference later.

The 1% Difference

To celebrate America Saves Week (Feb. 27-March 3), challenge yourself to contribute an extra penny on every dollar to your U-M Retirement Savings Plans. That’s just 1% now, but with the potential for much more growth by the time you retire. And with pretax contributions, more money goes into your account than leaves your paycheck.

A penny might not seem like much today. Over time, however, this small amount will accumulate. View the difference between saving 4% compared to 3% over time.

Join a Free Webinar

TIAA offers monthly webinars to help investors learn how to maximize their money, from budgeting 101, to maximizing your retirement savings, to putting away funds for college. These programs are livestreamed, with many recorded for you to view at your convenience.

Upcoming webinars include:

• Inside Money: Managing Income and Debt
  Learn to make your money work harder by using your cash flow more effectively, developing good saving habits and better managing debt.
  Tuesday, Feb. 28, 1-2 p.m.
  Register using this link.

• Opening Doors to the Future – Save in a 529 College Savings Plan
  Wednesday, March 1, 1-2 p.m.
  Learn how 529 college savings plans work, and how to invest in one for a child, grandchild, yourself or another loved one.
  Register using this link.
• Invest for Success: 5 Principles You Need to Know
  Learn saving and investing strategies, and how to put them into action.
  Thursday, March 2, 1-2 p.m.
  Register using this link. 

Check In Regularly

It’s a good idea to check in with TIAA periodically to ensure your U-M retirement savings plans are performing as expected. Meet with a strategist virtually, by phone or in person. Evolving technology allows TIAA representatives to screen share so you can see your account information.  

To schedule, visit tiaa.org/schedulenow or call (800) 732-8353, weekdays from 8 a.m. to 10 p.m.

Article courtesy of TIAA, 2023.