What’s your retirement mindset?

The Retirement Student

Interested in all the options ... and open to advice.

As a retirement student, you still have many productive working years ahead of you ... but now’s the time to start thinking ahead. Beginning to learn about the many retirement income options available earlier in life can pay dividends in your golden years.

Likely to seek the advice of family, friends and colleagues, you value an employer who can help you navigate the intricacies of retirement planning and find ways to help make the most of your savings. Whether you feel as though you’re behind or right where you should be in regard to funding your future lifestyle, there’s time to become a savvy and on-track planner.

Retirement students like yourself tend to spend their days sharing precious moments with loved ones, pursuing favorite hobbies, trying new experiences, and finding ways to check off their bucket-list. You’re in the prime of your life — and you want to make sure you’re able to maintain the lifestyle you’ve worked so hard to achieve long into the future.

You hope for a retirement where you’re able to handle life’s curveballs with confidence ... even if you’re not quite sure how to get there. There’s so much information out there, and it can be overwhelming to account for all the nuances. You worry that not planning right today could mean the inability to live well later.

Your Next Steps

If you’re just getting your feet wet in planning for retirement, know that you don’t have to be an expert overnight. Take a holistic look at your finances to see where things currently stand. Do you have debt, savings, investments, or upcoming large expenses like paying college tuition? What matters most to you as you age? Once you have a clear picture, it will be easier to support your vision of the future.

From in-person seminars to articles, web tools and retirement calculators, use the resources your employer provides to better understand your options and discuss your goals. You can lean on professional advisors for support that’s tailored to your unique set of circumstances. That can mean enrolling in programs that protect your savings when unexpected costs arise, like accident or disability insurance, or increasing contributions to your workplace retirement plan. Your employer may even have some retirement benefits you hadn’t considered, like protecting your retirement income with an institutional income annuity. Annuities take the stress out of planning to ensure you have the income you need for the retirement you want.

In Your Shoes: A Personal Account of a “Retirement Student”

Meet Les
a53yearold programmerfrom SanFrancisco

“With both boys in college, my wife and I are finally empty nesters ... even if we are still paying tuition and helping out with day-to-day expenses. We love having them home for breaks, but are enjoying the chance to reconnect, travel, and see more of our friends without the kids. One thing that comes up more and more as we get together with our friends is retirement planning. We all share nuggets of interest from articles and podcasts, but collectively we’re still figuring things out.

I’m open to exchanging ideas and airing concerns with friends, but our circumstances are all different ... for us, supporting the kids is just as big of a priority as planning for the future. While it helps to talk it out, I think matters involving money require a more well-researched perspective. That’s why I’m calling in professional support. So far, I’m pretty pleased with how much I’ve saved in my 401(k) plan; HR has provided information on benefits and resources available to me. With this, I feel like I can make informed decisions that will set up a sound retirement strategy that prioritizes my family’s needs.”

Meet Michelle
a57yearold widowliving inFlorida

“I’m glad I still have 10 years until I retire. I have my late husband’s social security to rely on, some annuities, and an IRA … but the market is fluctuating a lot and my 401(k) balance isn’t where I want it to be. Between raising my son and then caring for my husband after his cancer diagnosis, I started planning late. Just had a lot going on for a long time, you know? I worry about outliving my savings, especially with everything getting so expensive.

I talk to my son about my plans sometimes — he’s better at this stuff than I am. But it would be great if I was able to get more guidance on my options from work. An annual review of where I am with my 401(k) and what I should be doing would go a long way. It would be helpful to be more familiar with my retirement options and what’s available to me. I’d be interested in a guaranteed lifetime income option and any other resources available in the plan that could benefit my situation.1

For more information on income annuity options, please call the MyFRS Financial Guidance Line at 1-866-446-9377, Option 2.

1 Participants can choose from a variety of annuity options based on their individual circumstances. However, MetLife does not provide investment advice.

All guarantees are based on the claims-paying ability and financial strength of the issuing company.

Like most group annuity contracts, MetLife group annuities contain certain limitations, exclusions and terms for keeping them in force. Ask a MetLife representative for costs and complete details. 

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