New Tools Help Build Summer Financial Savvy

Three multi-level plants at different tiers of growth.

Fidelity Investments and TIAA, longtime partners in administering faculty and staff retirement investments, have added resources to support the U-M community.

The Value of Virtual

As the global landscape of investment changed overnight with the advent of COVID-19, Fidelity and TIAA offered more digital and online options to enhance safety. They also developed innovative tools for investors at all levels of engagement, whether you’re new to U-M’s Basic Retirement Plan or a seasoned investor following the trends.

What does this mean for you? Consultations with Fidelity and TIAA’s knowledgeable staff are still free of charge. With their physical office spaces closed for the time being, both institutions discovered that investors like virtual visits, as well as live and online chats, for their convenience and safety. Financial reps also have the capability to share their online screens, meaning you see what they see for productive discussion. To set up a virtual consultation:

Once you set up an account, you can perform most transactions using online tools. More information is available at fidelity.com and tiaa.org.

New-to-You Tech

Free education through consultations, webinars, resource libraries and more have been traditional means of education available to investors. Fidelity and TIAA have also established on-demand menus of video workshops that are queued up for your consumption – whether you catch “Five Money Musts” at lunch, a podcast during your afternoon bike ride or the latest YouTube Q and A before bed.

Some of the topics include:

  • 6 Factors When Claiming Social Security
  • Living Your Passions in Your Bonus Years
  • Woman2Woman: 10 Side Hustles
  • The Benefits of Being Tax-Smart All Year
  • A Retirement State of Mind
  • How to Open a Stock Account in Less than 10 Minutes

Fidelity and TIAA also created resource centers to assist the U-M community with the unique challenges of managing investments during a pandemic – a first for most in the worldwide financial community. They’ve increased the number of tools available to investors to address ongoing questions and concerns, such as:

  • What is the CARES Act?
  • Is now a good time to change my portfolio?
  • Does the CARES Act affect student loans?
  • What coronavirus expenses are covered through my health savings account (HSA)?

If data and numbers aren’t your comfort zone, TIAA and Fidelity also have personal stories that can help you relate to how others have experienced retirement planning ­– and some of the inspirational things they’re doing during their “leisure years.”

Live in August

Catch a live, real-time webinar in August:

Fidelity

  • Corporate Bond Investing in Unprecedented Times – Tuesday, Aug. 4, noon
  • Planning Your Escape: Having a Good Exit Strategy – Tuesday, Aug. 11, noon
  • Analytics for Beginners – Tuesday, Aug. 18, noon
  • Market Insights – every Tuesday, 2 p.m.

TIAA

  • Social Security for Married Couples ­– Tuesday, Aug. 11, noon
  • Money at Work 2: Sharpening Investment Skills – Wednesday, Aug. 12, noon
  • Retiring in the New Normal – Wednesday, Aug. 12, 3 p.m.
  • W2W: Postcards from the Future – Thursday, Aug. 13, 3 p.m.

All times are EST. Reserve your spot at fidelity.com/learning-center/events/overview and TIAA.org/webinars.

Remember Your Beneficiaries

When evaluating any financial asset, make sure your beneficiary information is current for your retirement accounts and life insurance policies. It takes just a few minutes here – and can save considerable money, stress and family strife.

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