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New year, new resolution for retirement savings

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Brenda EcheverriaHappy New Year! We have a new year's resolution that can really pay off for you in the long run—resolve to increase your retirement savings. It can be as easy as 1-2-3.

  1. Open a 403(b) or IRA. Or if you already have an account, pledge to increase your contributions, even if it's just a little bit. Compound interest can help you build that nest egg over time. Check with your school district on when you can make changes to your salary reduction agreement. Or, if you receive a tax refund this year, use that to increase your contributions to your 403(b) or IRA.
  2. Be clear on fees. Fees can take a big bite out of your retirement earnings. Whether you have a retirement savings account or you're thinking of starting one, make sure you understand all of the fees involved. Our fees are simple—a WEA Trust Member Benefits IRA or 403(b) has one low annual administrative fee with an annual fee cap. (Mutual fund management and redemption fees apply.) Learn more about fees.
  3. Educate yourself. Read up on retirement issues with our Web site articles and blogs, or join us this year for a free financial seminar at a location near you. Our quarterly magazine, your$, also has a wealth of information. Feel free to view issues online or subscribe to your$ magazine at no cost to you.

Want to know more? We're here to help, each and every year. Give us a call with your questions at 1-800-279-4030.

Brenda Echeverria, Financial Planner