Tips and resources that everyone can use
Knowledge is Retirement Power
Although everyone has experienced a few tough years of higher inflation, it’s important to keep things in perspective. According to the Bureau of Labor, inflation has averaged just 2.41% from 2000 to 2023. Conventional wisdom says you should consider keeping an appropriate amount of your retirement savings allocated to stock and bond mutual funds to help offset inflation risk. Although past performance is no guarantee of future results, historical average stock and bond returns have stayed ahead of inflation over the long term.
Do I have to wait until retirement to open a Social Security account?
No matter what stage you are at in the retirement planning process, everyone should open a Social Security account as soon as possible. Creating an account gives you the control to check your annual Social Security statement for accuracy, change your address, verify your reported earnings, estimate your future benefits, and much more. You can visit ssa.gov to open your account. In fact, the Social Security Administration has recently unveiled a brand-new homepage and a new design to help users find what they need more easily.
Tools & Techniques
You may feel a lot differently about the money you earn from your job versus money that was gifted to you through a will, trust or other circumstances. And you may have a different feeling toward the money you save through your retirement account — especially when the account is growing versus experiencing losses. You might say everyone has a “money personality” that affects how we think about and manage our money. Take a few minutes to answer a few questions in Fidelity’s money personality quizSM (https://www.fidelity.com/learning-center/personal-finance/money-personality-quiz) to find out which type you are, how that affects your financial decisions, and some common pitfalls to avoid.
We are happy to help, if you have any questions or would like additional insight, please feel free to reach out to me at firstname.lastname@example.org or 800.307.0376.
Disclosure: This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice. Investment Advice and 3(38) Investment Fiduciary services offered through Diversified Financial Advisors, LLC, a Registered Investment Advisor. 3(16) Administrative Fiduciary Services provided by PISTL Service Corporation. Discretionary Trustee services provided by Printing Industries 401k Trustees. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.