Don’t ‘Set and Forget’ Your Retirement Plan
As the midpoint of the year approaches, it’s an opportune time for educators to conduct a comprehensive review of their retirement plans. Whether you’re actively contributing to the Deferred Retirement Option Program (DROP) or nearing retirement, staying on top of your financial goals and retirement strategies is crucial for long-term success. In this article, we’ll explore how BENCOR’s tools and resources can empower educators to monitor and optimize their retirement plans effectively.
Understanding the Importance of Mid-Year Review
While January may be the time when many people think about their financial goals, we suggest checking in more than once per year. A mid-year review serves as a valuable checkpoint to assess the progress of your retirement planning efforts and make necessary adjustments. It allows you to:
Evaluate Performance: Review the performance of your retirement investments and assess whether they align with your long-term goals.
Track Contributions: Monitor your contributions to retirement accounts, such as DROP, and ensure they are on track to meet your retirement income needs.
Assess Retirement Readiness: Gauge your overall retirement readiness and identify areas for improvement in your financial strategy.
Leveraging BENCOR’s Tools and Resources
We encourage you to take advantage of the suite of BENCOR’s tools and resources because they are designed to simplify the retirement planning process and empower educators to make informed decisions. After all, retirement planning can feel overwhelming and it can help ease your mind to have professional resources in your corner to guide you along the way. Here are some key tools to utilize during your mid-year review:
1. Online Account Access
Have you checked in on your accounts lately? BENCOR’s online participant portal provides convenient access to your retirement accounts, allowing you to view account balances, track contributions, and monitor investment performance in real-time. With 24/7 access to your retirement information, you can stay informed and proactive about managing your finances.
2. Educational Resources
BENCOR offers a wealth of educational resources, including articles, webinars, and workshops, covering topics such as retirement planning, investment strategies, Social Security information, and tax considerations. We offer a full Financial Wellness Center to help you enhance your financial knowledge as you plan for a secure future. These resources provide valuable information and guidance to help educators navigate the complexities of retirement planning with confidence.
3. Personalized Guidance
Perhaps most useful among BENCOR’s tools and resources is our team of retirement specialists, available to provide personalized guidance and support throughout your retirement journey. Whether you have questions about investment options, retirement eligibility, or distribution strategies, our experts are here to help you make informed decisions tailored to your individual needs and goals. We understand that it can feel daunting to contact a financial professional if you don’t feel confident about your retirement planning knowledge, but our team is here to answer questions and simplify confusing terminology so that you can move forward into your future with confidence and security.
Are You Utilizing BENCOR’s Tools and Resources as You Plan?
As you embark on your retirement planning mid-year review, remember that proactive monitoring and strategic adjustments are key to achieving your long-term financial goals. By leveraging BENCOR’s tools and resources, you can gain clarity and confidence in your retirement strategy and ensure that you’re on track to enjoy a secure and fulfilling retirement.
Take advantage of BENCOR’s tools and resources today, including online account access, educational resources, and personalized guidance to empower yourself as you navigate the complexities of retirement planning. With the right tools and support, you can take control of your financial future and enjoy peace of mind in retirement.
Are you ready to receive personalized guidance now? For personalized advice and in-depth planning, we encourage you to schedule a free consultation with the financial professionals at BENCOR DROP support. We look forward to hearing from you!
