The right financial professional makes retirement planning easier
Key Takeaways:
- When it comes to retirement planning, it’s never too early or too late.
- Finding the right financial professional is the first step to make retirement planning easier.
- Your teacher's pension is a strong foundation to build on with other savings tools such as a 403(b) plan.
You answered a higher calling to guide and teach your students to prepare them for the future. But that calling may take so much of your time and energy that you forget to take care of your future, especially preparing to fund your life after teaching.
Just as the foundation of education starts early, so does planning for your financial future.
It’s time to start planning for retirement
If thinking about your future during an overwhelming school year schedule seems daunting, you are not alone. By 2030, one in five Americans will be over 65. That means over 73 million people will be retirement age in our country. That’s a lot of people who need to work on a clear and realistic retirement plan over the next seven years. It’s important that you’re one of them so your retirement dreams can become a reality.
Start by finding a financial professional
Parents have entrusted you to guide their children. As a teacher, you know more than anyone the value of having a trusted guide to lead you down the right path to reach your goals.
Working with a financial professional can make planning for retirement easier. In fact, many K–12 employees who work with a financial professional end up saving more for retirement and feel more confident about their future.
Working with a financial professional also makes educators feel happier about their 403(b) plan and more confident in meeting retirement goals. 84% of educators who worked with a financial professional felt satisfied with their 403(b) plan, as opposed to the 59% satisfaction rate for those who didn’t.1
You may be asking yourself: "Who has time to come up with a plan for retirement?" That’s why you need someone who can teach and guide you every step of the way. You need a financial professional who can help you make sense of the options and find what’s best for you. You need someone who can get to know you and learn more about when you plan to retire and your tolerance for investing. And you need to work together on how best to take advantage of the retirement benefits available to you, both today and in the future.
Take the next step now
Enroll in an Equitable Financial 403(b) retirement plan today — and find an Equitable Advisors
Financial Professional who can help build your financial future with confidence.
Understanding your retirement planning tools
As an educator, you have three ways to invest and save for retirement:
- Pensions – As a public school or non-profit private school teacher, you likely have access to a pension plan (often referred to as a defined benefit pension plan). If you aren’t sure if you have a pension plan, talk to your employer, school district or state pension provider for more information.
- Social Security – Based on where you live, you may also be eligible for Social Security benefits. Check with your employer, school district or the Social Security Administration to learn more about what types of benefits you may be eligible to receive in retirement.
- Investment plans – You may also have two types of investment plans available to you: 403(b) and 457(b) plans. These plans are tax-deferred retirement savings programs provided by public schools, colleges and universities. Talk to your employer or school district to see if one or both are available.
The advantages of a financial professional
Working with a financial professional can help you:
- Save earlier – Getting to know and work with a financial professional may inspire you to get started as soon as possible.
- Learn faster – A financial professional can help you understand the big picture and set goals for your future.
- Invest smarter – With the right guidance, you can strive to grow and protect your money.
Plan how with an Equitable Advisors financial professional
The right professional can give you the confidence to face your financial future with courage, strength and wisdom. They can also help create a smart plan for tomorrow that considers your needs and lifestyle today. Get started toward putting a plan in place by learning more about Equitable Advisors financial professionals with experience in helping educators like you prepare for a financial life after teaching.
1 “The value of the advisor: The impact of advisors on financial outcomes among K–12 educators,” 2022.
Disclosures:
This informational and educational article does not offer or constitute and should not be relied upon as investment or financial advice, and the advice of your own such professionals will prevail over any information provided in this article. Equitable Advisors, LLC and its associates and affiliates do not provide tax, accounting or legal advice or services.
Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY), Equitable Financial Life Insurance Company of America (Equitable America), an AZ stock company, and Equitable Distributors, LLC. Equitable Advisors is the brand name of Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI and TN).
