10/3 Financial Wellness Center Workshop

Last Monday, we were proud to host our first ever workshop collaboration with UT's Financial Wellness Center. Our members got to learn about the differences between various retirement accounts, different policies employers might have about funding retirement, and some general strategies for retirement planning. We have a few notes from the event, but also check out the attached document that the FWC used throughout the presentation.

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Retirement Accounts

• 401(k), 403(b), and 457 investment options are typically limited to mutual funds and ETFs

  • Some companies may only allow you to invest in mutual funds

• 403(b)s are typically offered by nonprofits, 401(k)s are offered by private, for profit-companies, while 457s are offered by governments

• Roth 401(k) - you pay taxes now and not when you withdraw

  • Same style as Roth IRA

• Recommended to make allocation changes at least once a year or if your financial situation changes

• If you change jobs, it is recommended to switch your 401(k) within 6 months

• Some companies may choose to make matching contributions via cash or stock options

Investing at Work.pdf

Download PDF • 270KB

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