People Like Me
The Benefits of Understanding
Meet, Alexandria. She realized early on that a salary is only one financial aspect of her job.
I remember being so excited for my first “real” paycheck. Personal experience has taught me that it was a good time to start planning for my last paycheck 40 years from now. My parents worked really hard to put four kids through college, and now they’re playing catch-up. When the time comes, I’d like to be in a position of deciding when I retire.
During my onboarding, I found out that my firm’s retirement plan was just the tip of the iceberg. My benefits package also included access to a financial planning benefit that provides free consultations with a financial planner. An online platform is also available to me, so I can easily track current and future expenses.
The time I spent with my financial planner was extremely valuable. During our initial consultation, she asked me to use the online platform to assess my current and future needs. Based on the results, we decided to contribute enough of my pay to qualify for the company match. The assessment also gave me a better understanding of budgeting and how to save for the short term.
Understanding my personal cash flow and tracking it online is helping me create and build a rainy-day fund. I finally have a full view of my financial picture today and feel better prepared for the future.
My advice is to take the time to understand all the benefits your employer has to offer, especially if you have access to a financial planning benefit.