Planning for Retirement in the Current Academic Climate
Approximately 25 percent of faculty working in the United States will reportedly consider retiring in the next 5-7 years. Many institutions of higher education have created retirement plans to entice faculty into early retirement. These are some of the concerns faculty may have as they contemplate retirement options:
- Do I have enough money to retire?
- Should I continue to invest?
- Do I have enough money to meet my needs if I retire now?
- What should I do about other financial obligations?
- How do I address my debts?
In addition to contacting a financial advisor, find out as much as you can to help you make informed decisions about retirement.
AAUP can provide help with planning for the next stage of your life at this difficult turn in the economy and downsizing within academia. Advice can be sought regarding investments, TIAA and other retirement portfolios, health care needs, asset planning, insurance policies, timing of retirement decisions, debt management, Social Security benefits and limitations, and other resources for retirement planning.