A letter from Jim Mullery

Warren Buffett, a master communicator as well as a master investor, elevates letter-writing to an art form. He’s always believed shareholders deserve to hear the straight story, the bad with the good—no “syrupy mush,” as he put it recently.1
TIAA clients and their advisors deserve the full picture too, so here it is: It’s an unstable operating environment out there for nonprofit organizations. Rising costs, a revolving door of talent and generational demographic shifts all challenge your ability to carry out your organization’s mission.
This is all on top of managing a retirement plan amid sweeping cultural, social, economic, political and policy change. People are living longer, healthier lives and, as a result, are spending more in retirement. Traditional sources of guaranteed retirement income face tremendous uncertainty: Fully 85% of
TIAA was built for these uncertain times. Our nearly $300 billion
This edition of TIAA TMRW also examines the differences between
Jim Mullery
Head of Institutional Relationship Management
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1 Berkshire Hathaway annual shareholder letter, 2023.
2 TIAA 2024 Building a Better Retirement survey.
3 As of December 31, 2024.
This material is for informational or educational purposes only and is not fiduciary investment advice, or a securities, investment strategy, or insurance product recommendation. This material does not consider an individual’s own objectives or circumstances which should be the basis of any investment decision.
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