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Reality Check: Will Your Retirement Meet Expectations?

Retirement planning can be a little bit like booking a vacation. Many of us have to save up to cover expenses, and it’s always good to do a little research about where we’re heading.

By taking part in the Ascension Health Retirement Savings Program, you’re already saving to cover expenses in retirement. A recent survey1 might help you gain insight about what to expect when you actually reach retirement.

Based upon responses from more than 2,000 retirees and nearly 2,200 workers who are at least 50 years old, the survey compared retirement expectations with retirement realities2.

Among the key findings:

  • 54% of older workers (50+) said they plan to continue working full-time or part-time in retirement, but only 5% of retirees said they are working.
  • 60% of retirees retired sooner than planned due to: employment related reasons, health reasons, or family responsibilities.
  • More than 75% of retirees said they wish they would have saved more on a consistent basis.

 

contact-RPC

It's important to stay actively involved in your retirement planning. Through the Ascension Health Retirement Savings Program, you have access to a Transamerica onsite Retirement Planning Consultant (RPC). Your RPC is an excellent resource for discussing retirement needs, so be sure to schedule an appointment—in person or by phone. If you have questions or need assistance, go to the contact tab at ah.trsretire.com to locate your RPC through the directory. 

Retirement-Checklist

E-Statements

E-statements not only help reduce clutter and paperwork, but you have quicker access to your account information. E-statements also reduce the risk of identity theft when you take advantage of this complimentary service. Please be sure that you have your preferred email address on file. If your email address changes, you should update.

1. Sign in to your account at

ah.trsretire.com

2. To the left, click on e-documents

3. If needed, click on update email

Reality Show: 5 Key Areas of Retirement

As the director and star of your own retirement reality show, you call the shots—but it helps to have a script outline. Transamerica has identified five key areas to consider in planning for retirement, with the goal of helping you prepare for that day when you’re ready to make the transition to retirement.

 

  • LIFESTYLE

    What do you really want to do in retirement? More importantly,how much is it going to cost?

  • INVESTMENTS

    What resources do you have—and need—to support your lifestyle?

  • HEALTH CARE

    Have you examined all of your health care options and determined what is right for you?

  • LEGACY

    How can you organize and protect the assets you’ve built during your lifetime?

  • INCOME

    How can you optimize your income and make sure it lasts throughout your retirement?

 

These aren’t easy questions, but your Retirement Planning Consultant can help you find the answers. Call or schedule an in-person appointment with your RPC to discuss how to start turning your vision of retirement into a reality.


Tech News

When it’s time to make repairs around the house, the tool box is a good place to start. It’s no different when making improvements to your retirement account. Whether you’re on your computer, your tablet, or your smartphone, Transamerica’s online tools are available to help make the necessary adjustments that could make a difference in your retirement savings.  Log in to your account at ah.trsretire.com or use the My TRSRetire app to view Your Retirement Outlook®, change your savings rate, adjust your asset allocation mix, or just check to see how things are going. iPhone, iPad, and iPod touch may download the My TRSRetire app here. Android users may download here. For more information about online tools and resources, check with your Transamerica RPC.