The military commonly uses the term “azimuth check” or “check your azimuth” to literally mean check or verify your direction of travel while navigating. As you navigate towards retirement, be sure to frequently check
your direction or ‘azimuth’ to ensure your navigation will lead you towards your retirement goals.
- What is your True North – It is important to take time to identify your retirement true north. Set your true north by defining your retirement goals and vision of how you will enjoy your post-professional life.
- Plot your course – Retirement financial professionals are available to assist with plotting your course. Reach out to a financial professional to establish a financial portfolio that will be equipped to help you achieve your future financial goals.
- Are you hitting the target mile markers – Once you have identified your retirement goals and established your financial portfolio, it is important to continue to track your progress to make certain you are hitting your financial mile markers. Conducting periodic check-ins with a financial professional is key to ensure you are contributing enough to move you forward as desired to hit your financial goals. If you aren’t contributing enough to hit your financial growth targets, consider increasing your savings in your UNC System supplemental (403b/457b) or State supplemental (401k/457b) retirement plans. 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). Even small increases can have a powerful impact on your retirement income. *NOTE: No “match” of contributions is provided with the University System supplemental (403b/457b) nor State supplemental (401k/457b)plans.*
- It’s okay to recalibrate – For most people, various life situations can arise that cause you to veer off your investment course. This is understood and there’s help available online, in person, or by phone with UNC System’s retirement plan financial consultants to assist you with a recalibration. Don’t give up on your goals! Do a quick recalibration of your plotted course to help you reach your retirement goals.
Don’t let the investment line up map and your retirement goals path confuse or overwhelm you. Reach out to a UNC System retirement plan financial professional with CAPTRUST, FIDELITY, and/or TIAA to help you identify retirement goals, plot your path with a financial portfolio geared toward reaching your goals, and recalibrate to get back on track to meet your future retirement financial needs.
