With another year in the books, it’s a great time to look back at your finances from 2023 and set new goals for 2024. For many, 2023 was a year of unexpected increases in the costs of gas, groceries and almost
everything in between. This created budget changes that may have caused you to deviate from your financial plan. As we begin a new year, now is the perfect time to get back on track with your financial and retirement goals but you may wonder where to begin.
- Start with Creating or Updating your Budget – and stick to it. Read more from TIAA on How to Manage Bills and Expenses and take advantage of their tools with this Creating a Spending Plan worksheet.
- Establish an Emergency Fund account. Life happens and unexpected expenses arise so it’s best to be prepared. Experts suggest having 3 to 6 months worth of essential expenses saved. CAPTRUST offers advice to getting you started with your emergency fund and where to place the funds in this brief video.
- Put money towards Retirement and Long-Term Savings. Part of your retirement planning should consist of money from multiple sources. Consider boosting your retirement by contributing to a UNC Supplemental plan. For details about the UNC Supplemental Retirement plan offerings, review our Supplemental Retirement Guide by clicking here.
As you are creating and updating your financial plan, UNC offers complimentary tools and resources, through CAPTRUST and TIAA, to help you along the way. CAPTRUST, our retirement investment advisors, provides unbiased investment advice and will help you create your Retirement Blueprint to track your progress. TIAA also offers one-on-one retirement planning with a TIAA Financial Consultant.
Click here to schedule your CAPTRUST Retirement Blueprint Appointment or to schedule your appointment with a TIAA Financial Consultant, click here.
In addition to one-on-one consultations, both CAPTRUST and TIAA offer a wealth of information at your fingertips. To access resources and tools such as financial and retirement articles, on-demand webinars, and various calculators from TIAA, click here. To access resources available from CAPTRUST, visit their Resource page by clicking here.
