News & Seminars

Celebrating National Financial Planning Month
This month, take advantage of the Fund’s resources to
help you with your retirement planning. 

Do you have a savings goal? Are you currently tracking your expenses or keeping a budget? Are you building your savings by paying yourself first? If the answer to any of these questions is “no,” make saving your priority this month. After all, October is National Financial Planning Month.

The YMCA Retirement Fund offers various tools and resources to help participants with retirement planning, regardless of their age or how much they have saved for retirement. Here are a few steps to help you with your retirement planning this month.

Gauge Your Financial Fitness

Do you have a savings goal for your ideal retirement? Retirement experts recommend saving 15% of your annual salary every year, throughout your career, to replace 85% of your final year’s salary in retirement. You can learn more about gauging your financial fitness here.

Building Retirement Savings

Once you have determined your savings goal, you will need to keep a budget to track your expenses. The Fund’s Spending Plan Worksheet is a great tool that can help you determine how much money you are spending each month on various expenses, such as food, transportation, and entertainment. If you know where you’re spending your money, you can make spending cuts or economize to save more money for retirement.

Pay Yourself First

It’s easy to build your savings with the Fund. Y employees can save on their first day of employment by opening up a 403(b) Smart Account. By making contributions to your 403(b) Smart Account, you can gather tax-deferred savings, enabling tax-free growth of your savings until retirement. Open a 403(b) Smart Account by filling out the 403(b) Smart Account form and submitting it to your human resources or payroll department. 

If you are currently saving with the Fund but haven’t quite reached your goal, consider making additional contributions to your 403(b) Smart Account. Log in to your account and use the Fund’s Retirement Goal Calculator to determine how much you will need to save to reach your retirement savings goal.