Retirement and financial planning offered by Penn

Dear Benny:
When it comes to finances, I’m always looking for assistance to get me on the right track. I know I need to learn how to manage my money better, but I’m at a loss. I don’t know how much money I should be setting aside, or how much money I’ll need to retire comfortably. What kind of financial planning is available to Penn employees?
—Smart Saver

Dear Saver:
Preparing for retirement can be a confusing and daunting task. But Penn offers financial planning help. Online assistance can be found through the University’s retirement vendors—TIAA-CREF and Vanguard. To find a list of resources offering information on taking control of money matters or meeting your retirement goals, visit the Human Resources website at www.hr.upenn.edu/benefits/retirement/financialplanning.aspx.

You can also get free, confidential, and unlimited phone access to qualified financial professionals who can advise you on financial decisions and offer advice for resolving financial concerns ranging from taxes to credit card debt to paying or refinancing your mortgage. Visit www.hr.upenn.edu/quality/worklife/resources.aspx for more details.

If you’re trying to save for retirement, both TIAA-CREF and Vanguard offer free one-on-one retirement counseling to help you build a short- and long-term investment strategy. To make an appointment, visit www.hr.upenn.edu/benefits/retirement/retirementcounseling.aspx. Additionally, if you are 55 or older and enrolled in a Vanguard retirement plan, you have access to a Certified Financial Planner at no additional cost.

The planner will provide expert advice on a variety of financial issues, such as how to stretch your retirement cash flow, or how to pay for everyday expenses like healthcare while living on a limited budget. The planners from Vanguard will even help you create a personalized retirement savings plan to ensure you will get and stay on the right track to meet your ultimate retirement goals.

Originally published on March 15, 2012