TIAA-CREF quarterly report

[redbird]

The people who manage my retirement savings (403b and IRA accounts) send out quarterly portfolio balance statements. I looked at the envelope that arrived today, and my first thought was there was no point looking at it, given the current situation, but I opened the envelope anyway. There's another reason it's not worth looking at: this is a quarterly report, meaning it's as of March 31st, so before Trump announced those stupid, destructive tariffs.

TIAA-CREF has also invited me to a webinar on the current situation and what they'd advise doing. I'm not the target audience for this--my theory remains that they are the professionals, and I pay them to think about this so I don't have to--but I'm glad they offered, because plenty of their clients do want that information.

Comments

[otter]

I hope there is enough left for you to live on once the dust settles.

[redbird]

Thanks, I'm not taking money out of those accounts yet.

[otter]

The last time "I" had money in the market, it was my kids' Franklin funds. Coincidentally, I needed to pull most of it for housing/living expenses just before October 2008. Very lucky timing. I replaced it when things got better for us, and they've all been able to use it up for their needs as young adults. It may have been enough to pay for a couple years of community college tuition if any of them had chosen to go.

[landofnowhere]

My guess is that TIAA-CREF is partly offering this webinar out of self-interest, to convince people not to panic withdraw money from retirement funds -- which is also the right advice for a most people. Stil commendable that they're doing it, though.

[contrary_cal]

Yeah, I'm trying not to pay attention to my superannuation account balance right now either. That man's going to do it more damage than the COVID crash did; at least I've got 20 years or so to keep building it back up.

[redbird]

I'm not paing uch attention to that anyway: I'm not working, which means I won't be adding to the fund, and while I'm now old enough that I could withdraw money without a tax penalty, I'm getting better returns over time from TIAA-CREF than from other options I'd be comfortable with.

When I was a lot younger, I was trying to decide whether to have money taken out of my paycheck to put into this retirement fund. When I said "TIAA-CREF" my aunt said I should absolutely do this. Not only was my employer offering to match what I put in, but because as a professor, she mnew and liked TIAA-CREF.

[sine_nomine]

They are not, at all, the company of our "youth", or of your aunt's time, unfortunately (they are now just TIAA, they've done some shady stuff, etc). But they are fine if all you are using them for is holding money.