News

Published:

November 4, 2015
 

Financial Fitness: Time for Your Annual Retirement Savings Checkup!


Submitted by Karen Loiacono, Manager of Benefits and Compensation, Office of Human Resources 

Where should you be?

The experts suggest you’ll need about 80% of your income in retirement, but that’s a general gauge. What’s your personal plan for retirement and are your savings on track to get you there?

You can perform your own retirement savings checkup using the following as a sort of checklist.

  • Review your overall financial picture
  • Increase your contributions
  • Update your beneficiary information
  • Diversify your Portfolio
  • Rebalance your assets
  • Meet with a Financial consultant

It will help you consider your retirement goals, the contributions you’re making to savings, your investments and how they’re performing.

What can you do to protect your future financial well-being? 

Enroll in your employer-sponsored retirement plan or increase your contributions. Automatic payroll deductions make saving for retirement convenient. And saving more today may bring you closer to the kind of retirement you want and deserve. You can contribute as much as $18,000 in 2015 (up to $24,000 if you’re 50 or older) and you won’t pay income tax on pretax contributions until you withdraw them in retirement.

Take advantage of advice. Schedule an advisement session with either a Fidelity or TIAA-CREF Financial Consultants. Watch for emails notifying you when they are available on campus. It’s available as part of your retirement plan at no additional cost to you. You will receive personalized recommendations to help you make informed choices, no matter how much or how little is in your account. 

Don’t set it and forget it. Remember that saving for retirement requires ongoing commitment.

This article was featured in the Fall 2015 Adelphi Adelphi Wellness Newsletter.
 
 
More Adelphi News

About Adelphi: A modern metropolitan university with a personalized approach to higher learning.

Adelphi University, New York, is a highly awarded, nationally ranked, powerfully connected doctoral research university dedicated to transforming students’ lives through small classes with world-class faculty, hands-on learning and innovative ways to support academic and career success. Adelphi offers exceptional liberal arts and sciences programs and professional training, with particular strength in our Core Four—Arts and Humanities, STEM and Social Sciences, the Business and Education Professions, and Health and Wellness.

Recognized as a Best College by U.S. News & World Report, Adelphi is Long Island’s oldest private coeducational university. It serves more than 8,100 students at its beautiful main campus in Garden City, New York—just 23 miles from New York City’s cultural and internship opportunities—and at dynamic learning hubs in Manhattan, the Hudson Valley and Suffolk County, as well as online.

More than 115,000 Adelphi graduates have gained the skills to thrive professionally as active, engaged citizens, making their mark on the University, their communities and the world.


For further information, please contact:

Health and Wellness Committee
e – healthandwellness@adelphi.edu