Whether it’s cleaning out the cobwebs on your beneficiaries or polishing your accounts and budget, taking small steps now will help ensure your current and future financials stay in order. There’s no better time than
the present to start your financial spring cleaning!
Here are a few commonly neglected areas to tackle:
- Update your beneficiaries: As life changes, you may have to update your beneficiary information. If you’ve recently married, divorced, or had kids, revisit the beneficiary selection of your account(s) to make sure that what’s written down still reflects your intentions. Confirming or updating your account information is as simple as logging in to your account.
- Retirement check-up: Conducting a periodic retirement readiness check is key to determine if you are on track with your current retirement savings. If you are not on track to achieve your retirement goals, make an adjustment to your supplemental retirement plan contribution (UNC 403b and 457b and/or NC401k and Deferred Compensation plan).
- Tune up your retirement plan: When was the last time you reviewed your risk tolerance? Take time to review your account(s) performance and rebalance your portfolio allocations on a regular basis to stay in alignment with your risk tolerance and future financial goals.
- Give your budget a fresh look: COVID has helped make it clear that personal financial budgets are a necessity to save and prepare for emergencies. Working with a financial professional to review your budget can help you create a plan to meet your current financial needs as well as savings and investment goals.
Spring cleaning doesn’t have to be difficult or tackled alone. Financial professionals with CAPTRUST, Fidelity, and/or TIAA can help with your retirement readiness check and tune up as well as refreshing your personal budget. Don’t delay! Act today and stay in control of your account(s).
