As you work your retirement plan, you’re likely to hear some myths that can derail even the best forward-thinkers:
- I can live entirely off my Social Security earnings.
- I’ll spend less as a retiree.
- It’s too late to invest more in retirement.
These and other myths can create confusion. That’s why it’s a good idea to meet regularly with TIAA and Fidelity Investments strategists to ensure your investments are meeting expectations. These companies are long-term U-M partners in administering its Retirement Savings Plans.
You can check in by phone or virtually; just schedule an appointment:
- Visit Fidelity's scheduling page or call (800) 642-7131, weekdays from 8 a.m. to midnight
- Visit TIAA's website or call (800) 732-8353, weekdays from 8 a.m. to 10 p.m.
Fidelity offers appointments exclusively for U-M employees every Tuesday from 8:30 a.m. to 5 p.m.
Tools of the Trade
Fidelity and TIAA are good resources to sort retirement myth from fact. In addition, they offer online tools that can help you adjust your budget, investments and other financial matters in real time. You also have access to their free live and on-demand webinars each month. View the live August offerings below:
Fidelity
- Friday, Aug. 5 – noon-12:45 p.m.
Insights Live: Protecting Your Wealth in Today’s Economy - Wednesday, Aug. 10 – 2-2:30 p.m.
Women Talk Money: All About Roth - Wednesday, Aug. 17 – noon-1 p.m.
The World as We See It – A Fixed Income Perspective - Thursday, Aug. 25 – 1-4 p.m.
Weathering the Storm: Considerations for a Volatile Market
Fidelity’s enrollment system tells you how many seats are available for each workshop and can put you on a wait list if a workshop is popular. View a complete list of workshops.
TIAA
- Wednesday, Aug. 10 – noon-1 p.m.
Lifetime Income: Market-proof Your Retirement - Tuesday, Aug. 16 – noon-1 p.m.
Gaining Insight: Navigating Debt Consolidation - Wednesday, Aug. 17 – noon-1 p.m.
The Power of Savings - Thursday, Aug. 18 – 3-4 p.m.
Hindsight is 20/20
Register for the above programs at TIAA’s webinar lounge.
Myth-busting with MHealthy
MHealthy also offers several resources to assist faculty and staff with improving their financial literacy. These include education programs, coaches, and immediate assistance for those who need help now.
