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Destination: Retirement - Grab your keys and let's go!
It’s September, which means it’s time to celebrate Retirement Savings Month at Reliant!
Each year, we choose a theme to inspire and motivate you to take charge of your retirement planning. This year, we’re putting you in the driver’s seat—with a theme centered around driving.
In the world of self-driving cars, getting from point A to point B has never been easier. But even the smartest car needs one thing from you: a destination. The same goes for your retirement plan.
Whether your dream is to travel the world, spend time with grandkids, cultivate new hobbies, or give back through volunteering, your retirement journey starts with knowing where you want to go.
Throughout September, this year's "403(b) Month", we're going to highlight "key" things you can do to make sure your Retirement planning is on the right track.
Here’s how to participate:
- You’ll receive a series of short, actionable emails.
- Each email will include action steps to complete.
- Complete action steps and submit the entry form to be entered into our prize drawings!
Prizes:
- Bi-monthly drawings for a small gift (value $25)
- Grand Prize: A $100 Amazon gift card!
(Note: Gift cards are taxable per IRS guidelines.)
First Challenge: Complete the "Keys to Retirement" checklist
Log on to MyGuidestone and get started -See 403(b) Month - Keys to Retirement Checklist
Contest Rules:
Prizes will be coordinated with employees based on their specific location/delivery preferences. Entries must be received no later than midnight 9/30 Eastern time to be eligible for our drawing.
Is it a Privilege?
Is it a Responsibility?
Is it happening in your life and financial situation?
This year we're using a martial arts theme, asking people to progress from various belt levels of activities to get to a black belt status in financial planning. To simplify how many staged this will be we have 6 levels:
- White belt
- Yellow belt
- Orange belt
- Green belt
- Blue belt
- Brown belt
- Black belt
Drawing & Prize Info
Fill out this Google Form saying which belt(s) you've completed for this activity and we'll enter you in the drawing for Crubl cookies - either delivered to you or a a gift card (alternatiove prizes are available based on location and/or allergy restrictions). For ever belt you pass you will earn more entries in our drawing.
White BeltSign Up
A white belt is typically given out at the beginning of a person's martial arts journey.
With Reliant's auto-enroll feature, many employees let those monthly payroll amounts go into their 401(k) account and they've
never taken the time to logged in at Principal.com and set-up their login information to check the accoun balance etc.
- If you've already taken this step - you can check this box.
- If you've never taken this first step - see Registering at Principal.com and begin your journey today!
Finished? Congrats, you're a white belt!
Yellow BeltAccount Balance 101
With the yellow belt, the student is expected to develop fundamental karate skills.
Knowing how much is in your 401(k) account as well as how much you're adding to the account every month are key components to financial planning.
- Log-in to your Principal.com account, the account balance should be listed under Overview
- Select Contributions > Contributions Summary from the menu at the top of the page - This will show you how much you're saving Pre-Tax and Roth from yuor paychecks. The employer match is not listed in this box but under the "Contributions by date" box just below. It will be listed as "employer"
Finished? Congrats, you're a yellow belt!
Orange Belt
Practice. Learn. Repeat.
A orange karate belt color is awarded to the student who starts to demonstrate progress in learning
more about their bodies as well as more about the fundimentals of karate.
- Do you understand how Reliant's employer match works? Have you considered why investing with the 401(k) may be more advantageous than investing in an IRA, at least up to that matched amount? - Read this Solomon page and educate yourself on the 401(k) match - Employer Matching Contributions
Finished? Congrats, you're an orange belt!
Green BeltMoving to Intermediate
At the point a karte student begins to refine the basic skills they’ve learned so far, they advnace to intermediate status, and are awarded a grenn belt,
What steps do you need to take to create/sharpen your financial saving habits?
Blue Belt
Take time to evaluate how your plan is going (prior to this exercise).
What key indicators would indicate to you that your are being successful in your planning and saving?
Review those key indicators.
As you circle back on this model in future check-up times, continue evaluate how your plan is going.
What tweaks are needed to be successful?
Brown Belt
Drawing & Prize Info
Reliant will be tracking attendance at these seminars and one lucky participant will receive a gift basket (ok, really it will probably come in a brown box) valued at $50 from one of their favorite food establishments (details will be coordinated with Reliant Central directly with the winner). We encourage all Reliant employees to find a webinar that interests them and spend a little time investing in themselves by enhancing their Retirement Planning knowledge through these webinars.
