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October is National Retirement Security Month

October 1, 2020

National Retirement Security Month is the perfect time to assess your retirement goals and check on your progress. With that in mind, DRS created a section on the DRS website with tools, tips and retirement information to help you make informed decisions about your future.

We know this year is different and your future retirement plans might be on hold or you’ve been putting off thinking about them. And while it might feel like the only route you can take is to access COVID-19 resources or your personal savings, it’s important to understand how those decisions might affect your future. For instance, it’s probably a good idea to pause before withdrawing your retirement contributions and ask yourself if there’s a different avenue.

That’s why we’re inviting you to take advantage of the National Retirement Security Month tools and resources throughout October. Features include DRS Education webinars, short videos, planning calculators, annuity information and retirement savings goals for you to consider making your own.

Some points we’d like you to keep in mind as you explore your options this month:

  • Don’t view your retirement plan as a piggy bank. Rather, work on creating “mattress money” (emergency savings) for times such as this.
  • An emergency savings of 3-6 months of your salary is known to reduce anxiety.
  • Stay the course – don’t let the uproar in the markets sway your financial decisions in the short term.

We hope by exploring different ways to help make your retirement more secure, you’ll have better peace of mind and enjoy a brighter future.