Saving for Retirement

There are many factors that contribute to how much you should save for retirement. Your retirement savings will depend on what you want to do in your retirement:

• Travel
• Own or invest in a dream small business
• Move to a new location or a retirement community
• Take classes
• Learn a new hobby like golf, tennis or something indoors
• Volunteer based on your passion

All these factors make a difference in how much you will need for retirement but remember that the earlier you start, the better off you’ll be.

For more information, visit this article on the Fidelity Website that discusses how much money to save for retirement: https://www.fidelity.com/viewpoints/retirement/how-much-money-should-I-save

You can learn more about your situation by meeting one-on-one with a Fidelity investment professional.

• Start saving early.
• Use payroll deduction to save your money. It's saved before you can even think about spending it.
• Save your own money in the Oklahoma Teachers' Retirement System (OTRS) and in a voluntary retirement savings plan. Learn about the retirement plans below.
• Periodically review your retirement readiness with a Fidelity representative or a private financial planner.
• Visit Fidelity.com/Webcasts for practical conversations to help you live well financially.

Get started right away by taking advantage of a Voluntary Savings Plan, which allows you to start saving a percentage of your salary on a before-tax basis. The voluntary plans are designed much like a traditional savings account, as an easy way to start or boost your retirement savings. Any employee can start, alter, or stop a voluntary plan at any time during their employment. 

The university has a team of retirement professionals who are dedicated to ensuring you’re ready for your golden years. Staff personnel and the Retirement Plans Management Committee have contracted with Fidelity Investments to ensure your retirement savings are carefully monitored and that you have all the education you need to make informed decisions about your retirement planning options. Take advantage of the resources we offer by scheduling a meeting with a Fidelity professional! To get the most of your meeting, please have any retirement and investment info and plan for about an hour to go through your accounts, review some possibilities and get all your questions answered.