As educators, you’ve spent your career shaping the future of countless students. Now, it’s time to focus on shaping your own future. Teachers Retirement Solutions (TRS) is here to help you make the most of your retirement, ensuring you can enjoy life beyond the classroom with confidence and financial security.
Identifying the amount you are short is the first step in fixing the problem.
Evaluate how much money you would need in order to retire at the age you desire and live the lifestyle you want.
If there is a gap between your predicted needs and your predicted savings, determine what you can do to get more money into your retirement savings. That is generally going to happen by saving more money, working longer, or taking on extra-pay assignments.
You have gathered information about your retirement. You have taken the time to evaluate your needs. You are ready for an action plan! With the efforts you have made over the years, you will deserve to fully enjoy what life has to offer.
Find simple ways to save. Small contributions to your retirement can add up to big savings overtime.
$5 per month in 20 years you'd have $13,506
Make sure to set up systematic payroll contributions to help you get you closer to your goals. You not only defer taxes on the oney you contribute, any earnings on your savings also have the potential to compound tax deferred until withdrawal.
Starting a 403(b) or 457(b) account ensures you have enough income to support the retirement you envision with out the need of having to work longer .
