For many, financial anxiety is real. According to a recent Gallup poll, 31% of Americans cite inflation and high prices as top financial concerns.
How to ease the worry? TIAA, U-M's partner in administering its Retirement Savings Plans, offers a 6-Minute Checkup to assess your financial strengths and offer tools to help you meet your money goals.
The checkup is available in the "Plan & Learn" section of the Fidelity website; log in using your established username and password. By answering a few targeted questions and investing six minutes of time, you can chart a healthier financial path for now and for the future.
Learn by Livestream
Fidelity Investments and TIAA, U-M's longtime financial partners in administering the university's Retirement Savings Plans, offer several live and on-demand events each month with a variety of topics. These events can help you learn more about a subject that interests you, or freshen your existing knowledge about the ever-changing financial world.
These events are free and take place on Eastern Time. Upcoming events include:
Fidelity
Women Talk Money: Deep Dive on HSAs – Make Them Work for You
Wednesday, June 10 – 2-2:45 p.m.
Women tend to live longer and have higher health-care costs throughout their lifetimes, so tax-efficient savings can be a powerful tool in helping you prepare.
During this discussion, you'll learn:
- How an HSA works, who is eligible, what you should keep in mind at tax time, and ways to help your savings work harder for you
- What women should know about health care in retirement — and how an HSA can help you save
- Ways you can use an HSA strategically at different points of your life
- Lesser-known tips for using an HSA to help you reach your savings goals beyond health care
Financial Planning for Singles Podcast
Tuesday, June 16 – 8 a.m.
Being single can bring flexibility, freedom and independence. It also means every financial decision is on your shoulders. Host Ally Donnelly talks to a writer who took charge of her financial plan for life on a single income. Additional topics include building a realistic budget for money management, investing with confidence and thinking ahead for retirement and estate planning.
To view more educational events, go to the Fidelity Special Events Learning Center web page.
TIAA
Set Your Retirement Date: Understand Your Factors to Get You to Your Goal
Wednesday, June 10 – noon-12:45 p.m.
This webinar takes you through steps to decide when the time is right to retire, including:
- Creating your vision
- Understanding what's ahead
- Estimating expenses and income
- Making your plan
Identity Theft: Safeguarding Your Finances
Thursday, June 25 – 11-11:30 a.m.
Whether it's a phishing email, fraudulent phone call, or fake social media profile, scammers are finding new ways to steal personal information. This webinar will show you how to protect your finances and stay ahead of threats. Topics will include:
- Common tactics used by identity thieves
- Steps to prevent identity theft
- What to do if your personal information is compromised
To explore TIAA's webinar library, go to the TIAA Webinars web page.
Check In to Check Out
Events are great ways to increase your financial knowledge, but they can't replace personal connection with your TIAA or Fidelity retirement specialist. You can meet with a strategist virtually, by phone or in person for optimal convenience. Evolving technology allows them to screen-share so you can see your account information in real-time.
To schedule your one-on-one appointment:
- Visit the Fidelity Scheduler web page or call (800) 642-7131, weekdays from 8 a.m. to midnight. Fidelity offers appointments exclusively for U-M employees every Tuesday from 8:30 a.m. to 5 p.m.
- Visit the TIAA scheduling web page or call (800) 732-8353, weekdays from 8 a.m. to 10 p.m.
Help at MHealthy
MHealthy also offers several resources to assist faculty and staff with improving their financial well-being. These include education programs and resources, coaches, and immediate assistance for those who need help now.