Congratulations! Simply by visiting this page, you’ve taken the first important step toward securing your future. Sure, it was a small step. But that’s the secret to retirement planning: small, positive actions make a big difference down the road.
As a participant in your retirement plan, you can be assured that our team of experts is always here for you. Whether you have just launched your career, or you’re nearing retirement, we are here to help you get the most from your plan.
| 1. | Do it For Me | : | Use your plan’s diversified default option |
| 2. | Help Me Do It | : | Consult with a registered investment advisor |
| 3. | I’ll Do It Myself | : | Select your own investments |
A successful retirement evolves as your life does. Here are some moves to consider.
Early Career Contribute as much as you can to your retirement plan and other savings vehicles, while meeting personal financial goals. Minimize your debt from credit cards and other sources.
Lay the foundation for your financial future. Consider current and near future plans without losing sight of the necessity to begin planning for retirement. Starting early with proper planning can really pay off in the future.
At this age, you probably can afford to be fairly aggressive with your investments. A potential portfolio mix would have 60% to 80% in aggressive options like stocks or stock mutual funds and the rest in conservative options like fixed income investments.
Mid Career Contribute as much as you can to your retirement plan and other savings vehicles, while meeting personal financial goals. Once you reach age 50 you can make “catch-up” (extra) contributions to your retirement plan.
This is a good time to reevaluate for your financial future while resisting the temptation to use retirement savings to meet current and near future obligations.
As you get closer to retirement, consider reducing aggressive options and adding more conservative, income-producing investment options. A potential portfolio mix would have 50% to 70% in aggressive options like stocks or stock mutual funds and the rest in conservative options like fixed income investments.
Continue contributing as much as you can to your retirement plan and other savings vehicles, while preparing for the reality of retirement. Remember once you reach age 50 you can make “catch-up” (extra) contributions to your retirement plan.
This is a good time to adapt your budget to projected retirement income levels by gaining an understanding of your retirement benefits from your various retirement savings vehicles (401ks, IRAs,) and pensions (Social Security and private pensions). In addition, carefully reconsider your consumer debt and various insurance and how that will affect budgeting in retirement.
As you get closer to retirement, consider reducing aggressive options and adding more conservative, income-producing investment options. A potential portfolio mix would have 30% to 60% in aggressive options like stocks or stock mutual funds and the rest in conservative options like fixed income investments.
Now is the time to implement the planning you completed in pre-retirement. Continue relying on resources available in order to reaffirm your financial plan in retirement.
Determine a distribution strategy from your retirement plan that meets your goals while in retirement. If you plan to work part-time, find out how this will affect your benefits and your plan. Continue managing debt conservatively.
Lean towards conservative, income-producing investment options, but don’t rule out aggressive options. A potential portfolio mix would have 20% to 40% in aggressive options like stocks or stock mutual funds and the rest in conservative options like fixed income investments.
