Worried About the Market? Don’t panic.

Worried About the Market? Don’t panic.

Because of current events, you may be tempted to sell off your assets after watching the market go down one day, then up the next. Resisting the urge to react to volatility, however, may allow you to benefit when it recovers. Instead, consider worrying more about the factors you can control, like how much you are saving and consider putting more of your attention toward constructing a portfolio that reflects your risk tolerance and your long term retirement planning strategy.

Understanding the market cycle may be a key factor to getting the most out of your investment goals. Disciplined investing and managing your reaction to a bad market day or week could be the best hand you can play. Systematic investing does not ensure a profit nor guarantee against loss. Investors should consider their financial ability to continue their purchases through periods of low price levels. Watch this video provided by one of the A&M System retirement vendors, Voya Financial, to help make better decisions regarding your assets during this turbulent time.

America Saves Week 2020

America Saves Week 2020

America Saves Week 2020 is February 24th to February 29th. It is a nationally recognized campaign that encourages you to take a closer look at how you are saving in order to set yourself up for success in the year to come.

TIAA, one of the Retirement Program partners of the A&M System, provides savings advice to help you make saving a habit.

  1. Set goals you can reach—Saving is a challenge. To win big, you don’t have to start big. Set realistic goals and try to increase your savings every year.
  2. Switch into “easy” mode—Automatic deposits allow you to set it and forget it. And you can’t spend what you’ve already saved.
  3. Use the right tools—Financial calculators can help you track your progress and see if changes are needed.
  4. Protect your accounts—Taking some simple steps may help ensure your savings won’t end up in the wrong hands.

To get started, you can use TIAA’s financial goal planner. Gauge your “fiscal fitness” by calculating your monthly income and expenses, write down achievable financial goals, and then identify a time frame to achieve those goals.

In addition to TRS and ORP, the A&M System offers two additional voluntary, pre-tax savings programs: the 403(b) Tax-Deferred Account (TDA) and the 457(b) Texa$aver Deferred Compensation Plan (DCP). Take this opportunity to also learn about the savings options available to you on the Retirement Programs website at https://www.tamus.edu/business/benefits-administration/retirement-programs/.

Ready to Retire?

Many people experience a reduction in expenses after retirement, but some do not. Travel, medical expenses, long-term care, taxes, and more free time to spend are all reasons why you might need more funds in retirement than you think! TRS suggests trying to live on your estimated retirement income for a few months while you are still working so you know exactly how much you will need. Watch this short video* from TRS’s financial awareness video series to learn more.

 

*Transcript is available on the TRS website.

National Retirement Security Week

National Retirement Security Week

National Retirement Security Week

When it comes to saving for retirement, there is never a better time than today to assess your progress toward meeting your retirement goals. With Oct. 20 through Oct. 26 designated as National Retirement Security Week, the opportunity is right in front of you. It is important to begin saving today for retirement – or increase your contributions – if you aren’t meeting your goals. This week is dedicated to showing you different ways to meet your objectives.

If you save just $10 per week in a 403(b)Tax Deferred Account or Texa$aver 457 Deferred Compensation Plan for 40 years and earn an average rate of return of 7 percent, you will have over $100,000 in your account. That just shows the power of tax-deferred savings! Over 30 years, adding $25 to your $100 biweekly contribution can increase your account from $264,327 to more than $330,409, assuming you earn 7 percent. Take advantage of National Retirement Security Week and review The Texas A&M University System Retirement Programs Booklet while evaluating your retirement plan.