A comprehensive guide to mastering the art of financial wellness for retirement goals

If there is one thing the university community knows, it is that learning never really stops. While you might be used to sharpening your skills in the classroom, research lab, or office, your financial know-how deserves the same level of attention!

For some, that means figuring out how to stretch the first paycheck from a new role. For others, it means deciding how to make the most of decades of hard work as retirement gets closer. Though, for many, it is managing the space in between, balancing day-to-day expenses with long-term goals while still finding room for the things that make life enjoyable. The good news is that you do not need to overhaul your life to make progress! Small, intentional changes combined with the right tools can set you up for lasting financial well-being.

Early career focus

For instance, if you are early in your career, focus on building a solid foundation. Start with an emergency fund so that a flat tire or medical bill does not throw your budget off track. Contribute to retirement right away, even if it is a modest amount. Thanks to compound growth, starting early makes a huge difference over time. A University Credit Union High Yield Savings account, for example, can help your safety net grow faster, while a Smart Checking account keeps everyday spending organized and easy to track.

Mid-career goals

Of course, as you move into the middle of your career, priorities often shift from simply getting by to making real progress toward those goals. This is the perfect time to explore your employee benefits in detail. Retirement matching programs, health savings accounts, and tuition assistance can add up to thousands in value each year, but only if you take full advantage of them. You may also begin thinking about bigger goals like buying a home, renovating your space, or helping a child or grandchild with tuition. UCU's Home Equity Line of Credit offers flexible access to funds so you can pursue these milestones without depleting your savings.

Near the retirement finish line

And when retirement is on the horizon, stability and protection become the priorities. Review your plan to ensure your savings, investments, and projected income align with your lifestyle goals. Paying down remaining debt can free up income for travel, hobbies, or simply peace of mind. UCU's Retirement and Investment Services can help you fine-tune your plan, and Certificates provide a secure way to preserve and grow your savings in the final years before you step away from work.

In the end, financial wellness is not something you achieve once and check off the list. It is a lifelong process of learning, adjusting, and making informed choices. That all being said, we are hosting Plan, Save, Retire: Financial Wellness for University Employees, a free webinar for the entire university community. It is a chance to explore budgeting strategies that really work, learn how to make the most of your benefits, and pick up practical retirement planning tips you can start using right away. 

Let this summer be the season you refresh your finances, whether you are just getting started or just a few steps from retirement. Register here to join us and take the next step in your financial journey. If you are unable to attend, a recording of the event will be available on our YouTube channel here. We look forward to assisting you on your financial journey!