Before hitting the road, you're accustomed to taking these important steps:
Buckle up
Check your fuel tank (or battery charge)
Scan for warning lights and surrounding hazards
Set your destination
Your retirement planning works the same way.
This checklist will help you tune up your retirement “vehicle,” so you’re prepared for the road ahead.
Log in to your 403(b) account with Principal and review these essential gauges.
Buckle Up (Safeguard your savings)
- Is my beneficiary info up to date? If not, see Changes to Beneficiaries.
Fuel Up (Make sure your retirement has the right fuel to get you to your destination).
- Is the amount I'm contributing from my paychecks into the 403(b) Plan what I want it to be? If not see Changes to Contributions.
- Am I happy with my investment performance? If not, see Changes to Investments to make changes or sign up to talk to an advisor to review your investment strategy.
When you look at your retirement plan through the lens of driving, it’s not just about having enough fuel in the tank to reach your destination.
You also need to check for warning indicators:
- Are there major expenses ahead that you haven’t planned for?
- What about roadblocks or detours—unexpected life events or market shifts?
- Have you built in contingency plans for the bumps along the way?
- The Principal website has a tool to help you assess your Retirement Wellness Score. This tool can be found under the "Planning Resources" tab >"Education" and by scrolling to the bottom of the page > "Retirement Wellness Planner". If you've never done this assessment, we encourage you to fill it out and get your initial Retirement Wellness Score. If you've already completed the assessment, review your score consider making some adjustments to improve your score.
Check for Roadblocks: 20-Minute Brainstorm + Reflection Challenge
Take 10 minutes to brainstorm a list of potential obstacles that could hinder your retirement goals.
Consider:- Financial “potholes” like unexpected medical expenses or debt
- Life “detours” such as career changes or family responsibilities
- External “roadblocks” like inflation or market volatility
Reflection challenge
After your brainstorm, spend 10 minutes in reflection, seeking wisdom and clarity on how to responsibly adjust your retirement planning.
Every journey needs a destination—your retirement is no different.
Invest 1 hour planning your Retirement Destination.
- Take 30 minutes to reflect on what a meaningful retirement looks like for you.
Ask yourself:
- What do I want my retirement to feel like?
- Where do I want to be—physically, financially, spiritually?
- What activities, relationships, or goals matter most in that season of life?
- How much time do I spend each month thinking about my finances now and in the future? Do I feel like the time spent is sufficient to focus on my financial future needs/goals? (If not, we challenge you to add a financial check-in every month or two to your schedule.)
- Consider what your "future" retirement-age self may say to you looking back on where you're at right now. What advice would your future self suggest to help you achieve your future goals?
- Take 30 minutes to reflectively seek guidance in helping you meet your goals:
- Bonus challenge - Tell someone about your dreams/goals and ask them to hold you accountable in meeting these goals!
