Member Success Story: The Winning “Playbook” for Retirement

Employees face a formidable opponent: retirement.  With time ticking away and the scoreboard showing little to no savings, some employees are worried about winning the financial future they desire.  Like many of his peers, Gilbert wasn’t sure how his retirement would turn out. He wanted a “playbook” for long-term retirement planning, so he reached out to the MSA Financial Wellness program for help.

Through MSA, Gilbert connected with a Money Coach and retirement specialist.  Training began and covered many things Gilbert had been unsure about:  “This included a large variety of retirement topics: health care costs, long-term care and life insurance, […]creating an income stream from savings, maximizing social security benefits, and several others.”  With his coach’s educational guidance, Gilbert learned the “plays” he might consider making in order to up the score – to increase retirement confidence.

Together, they set up an action plan around accessing distributions, which accounts to consider using first or saving for later, and how he might rebalance savings and income along the way.  They talked about other topics, too:

• Medicare, life insurance, and long-term care policies
• How to evaluate the cost of coverage and compare the different types of insurance
• Possibly moving after retirement, investigating where to go, and what the tax implications might be

Gilbert had this to say about working with his Money Coach:  “We had a number of sessions and covered every topic I had in detail….  [He] was thoughtful about responses to my questions, flexible in addressing a wide range of topics, and willing to research and reach out to colleagues to collect additional information to help dive deeper into my inquiries.”

MSA members have different levels of financial skills, and our coaches make sure to meet each member at their level and help them grow from there.  With Gilbert, it was no different.  He said, “[My Money Coach] adjusted his feedback based on the level of understanding I already had about the topics.”  Gilbert went on to say that he “also keeps the discussions interesting and entertaining.”  His Money Coach went above and beyond to make sure that his experience with MSA was both helpful and fun.

Gilbert came with questions and uncertainty about how his retirement would play out.  Through one-on-one consultations, Gilbert and his Money Coach covered many topics and created a game plan, which helped Gilbert boost his financial confidence.  In Gilbert’s words, he gained “a better understanding of options/preferences and an improved game plan.”

Gilbert entered the program with little financial stress (9.25/10), and even then, after working with a Money Coach, he improved his score by 6.5% (9.875/10).

Do you feel like you’re dropping the ball or stuck on the sidelines when it comes to saving for retirement? A Money Coach can help you create a game plan for achieving your short-term and long-term financial goals. Call MSA today at 888-724-2326.

This testimonial was provided by a member of MSA.  They did not receive compensation of any kind for their statement.

Information provided in this article is for informational purposes only and is not intended to offer specific personalized investment, financial planning, tax, legal, or accounting advice.  We recommend that you consult an attorney, tax advisor, or accountant regarding your unique circumstances.