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2020-make-the-most-workshop

If you missed our first Fidelity web workshop of 2020, that's okay. All of the information shared by host Alicia McMurry is available to help you plan for a stronger financial future. Here's the link to the on-demand version of the workshop. Below you'll find an outline of the session, along with links to the tools and resources that were mentioned.

This workshop covered three main questions:

1. How much is "enough" for retirement?
There are five factors to consider:

  • Health care costs - use this calculator to estimate how to account for this expense.
  • Lifespans - review this article summarizing long-term care options and considerations.
  • Inflation
  • Long-term planning - contributing a small amount can make a big impact on your retirement.
    • Visit the P&B website for more information about starting contributions to your Nazarene 403(b) account.
  • Daily expenses - use the Fidelity Retirement Planning Tool to get an understanding of what you may need to cover your expenses in retirement.

2. How can you save more?
Maximize contributions to your Nazarene 403(b) account. Take advantage of any employer match available.

  • This on-demand workshop covers how to start saving while addressing other financial goals such as budgeting and debt management.
  • Consider how IRAs, HSAs, and deferred annuities can play a role in your overall retirement plan.

3. How can you preserve and grow your savings?
Make sure you are investing for the long term.

  • Do it yourself (DIY)
    • Consider your risk tolerance and time horizon.
  • Single fund solution (target date funds)
  • Managed account

You may also find the following resources helpful:

  • Use this tool to help determine your strategy for when to claim Social Security.
  • The Annual Pension Supplement (APS) is an additional way to grow your Nazarene 403(b) account.
  • Some ministers who were serving prior to 1996 were grandfathered into the Single Defined Benefit Plan. Those grandfathered participants can find an overview of information here.

For complimentary assistance with retirement planning, call Fidelity’s planning consultants at 800-603-4015.

By logging in to your Nazarene 403(b) Retirement Savings Plan account, you’ll find even more on-demand workshops at Fidelity's Event Registration System.

Thanks again for registering for our live web workshop! Stay tuned for information on upcoming workshops in 2020.

If you have any questions about your Nazarene 403(b) account or other financial matters related to ministry, contact us at 888-888-4656 or This email address is being protected from spambots. You need JavaScript enabled to view it..

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