5 Steps to stay on track to retirement

ANNUAL CHECKUP 5 steps to help you stay on track toward your retirement goals

It can be easy to veer off track on your way to retirement, so give your 401(k) or 403(b) an annual checkup to keep it moving in the right direction. Here’s how you can give your retirement savings a check-up. 1 SEE IF YOU’RE ONTRACK

If you haven’t thought about your retirement savings lately, your first step is to check your balance. To see if you’re on

track, start by using our age-based milestones. LEARNMORE

2

UPDATE YOUR PROFILE AND BENEFICIARIES Check your profile and make sure your information is up to date and security features are enabled. Beneficiary designations should be reviewed periodically, especially after life events like marriage, divorce or death of a loved one.. How: Visit NetBenefits > Profile

3 INCREASE YOUR SAVINGS RATE

4 CHECK WHERE YOU’RE INVESTED

If you aren’t already contributing enough to get your full company match, consider increasing your savings rate to reach the full match. If you need to take it slower, start by increasing savings by 1% of your pay each year. Over the course of your career, you should aim to save an average of 15% of your pay (including any employer contribution)*. But even small increases can have a powerful impact on your retirement income. LEARNMORE

If you haven’t looked at the funds in your 401(k) or 403(b) in a while, you may want to confirm that your investment choices still align to your long- term goals. If this isn’t something you have the skill, will, or time to do on a regular basis, you may want to consider a target date fund

or a professionally managed account. LEARNMORE

5 IT’S OKAY TO ASK FOR DIRECTIONS

Every question is a good question, no matter how basic you may think it is. Even if you don’t know what question to start with, there’s help available online, in person, or by phone. LEARNMORE

* Total savings rate includes both employer contributions and employee deferrals. Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 © 2021 FMR LLC. All rightsreserved. 943278.2..0

Page 1

Made with FlippingBook Digital Publishing Software