Recently retired? Consider these next steps

Now that you are retired, it’s more important than ever to plan for what’s ahead. That’s why the University of California offers a wide range of tools and resources to help retirees like you manage your money and make sure that it lasts as long as you need it to.

Consider these important steps today and throughout your retirement.

1. Bookmark the “In Retirement” Page on myucretirement.com.

UC’s In Retirement page is your one-stop resource for articles, videos, checklists and more.

You’ll find helpful information about UC’s retirement benefits, personal finance tips, how to keep your various accounts updated and who to contact with questions. Check in regularly to get the latest news and updated resources.

2. Create a plan that aligns your income and spending needs with your financial goals.

A good income plan helps organize your finances, guide your decisions, and prepare you for the unexpected. Plan to use your savings wisely through a long retirement, inflation and market volatility by using the comprehensive Planning and Guidance Center at netbenefits.com. Select “Planning” on the home page to get started.

Once you’ve created a plan, it can also serve as a monthly budgeting tool that can be adjusted at any time.

3. Streamline and keep things simple.

Remember that you can keep your money in the UC Retirement Savings Program (RSP)—your 403(b), 457(b), and DC plans*—which provides access to low-cost funds including the UC Pathway Income Fund that is designed for people living in retirement.

Consider consolidating your RSP accounts into a single plan so you can manage your assets more easily. You can also move outside assets into the RSP—even though you no longer work for UC.

You can set up recurring automatic withdrawals from your RSP account, directly into your bank account or by check, online at netbenefits.com or by calling Fidelity at 800-558-9182.

4. Re-evaluate your investment strategy and portfolio mix.

Investment growth plays an important role in a retirement income strategy, and an appropriate investment mix is essential to smart investing. As investments gain or lose value, you should review and adjust your mix of stocks, bonds and cash to ensure it remains in balance.

If you prefer a simpler approach to investing, you may want to consider the UC Pathway Income Fund, which aims to help preserve your savings, but still seeks growth for a retirement that may last for decades. It’s also designed to help support your retirement income strategy.

Learn more about the investment options available through the UC Retirement Savings Program. 

5. Meet with a UC-dedicated retirement planner.

Get help creating—or fine-tuning—your retirement income plan and investment strategy, and learn how to use the many tools available to you. The University of California offers personal, one-on-one retirement and investment help from a UC-dedicated retirement planner.

For your convenience, there are several meeting options:

 

The bottom line

The UC Retirement Savings Program continues to provide advantages that you only get in the UC Plans. No matter what your plans for retirement, we’re here to help you make the most of it.