“When I think about retirement, I’m still doing the things I love.”

Charles Washington, Jr. | University Technology Coordinator | 43 years old
Participant since 2007
Snapshot

Get to know Charles Washington Jr.

Charles loves filmmaking, working out and his family

Are you on track for retirement?

“When I first started at the University, one of the first benefits I took advantage of was to enroll in their retirement plan with TIAA and examine the pre- and post-tax plans to find what would work the best for not only me, but also my family. As a husband and father of three, my retirement is set upon the scope of when my youngest graduates college and what I will need to not only support them, but be able to enjoy the life goals beyond my career.”

What does successful financial planning mean to you?

“Successful financial planning means retiring and not having to look back on your career today and say, 'I should have done more' or 'How are we going to be able to make it now?'"

How has having children affected your planning?

“Having more children (I currently have one in college and two in grade school) slid the timeline as far as to what age I was going to have to work. That number had been my mid- to late-50s and now it is 64.
All of my children are aware of financial planning concepts so that they can prepare for their own futures—from the 4-year-old who just likes the look of shiny quarters, to my 6-year-old who wants to save for a new game system, to my 18-year-old who wants to have money for college and beyond. Making wise financial decisions helps you reach those goals!”
Working Together

How has TIAA helped you?

Charles wants to make sure his money is handled responsibly so he won’t have to work as hard in the future.

Building savings

Charles is saving in his employer’s plan and is putting away additional money in his bank savings account. He also has an emergency fund and college savings put aside for his two youngest kids.

Staying on track

Charles meets with TIAA financial consultants to help keep on track. He remembers, “when [the financial crisis] hit, I had security knowing what was being done with my money.”
Life Insurance

Why life insurance?

Charles is taking steps to help secure his family’s financial future by saving and securing life insurance for his family. Use TIAA’s Life Wizard to learn how much life insurance you need and what it might cost you.

Protect your family

Life insurance can help provide for your loved ones in case something happens to you.

Income tax-free death benefit

Your beneficiaries generally won’t have to worry about paying taxes on the money they receive.

Tax deferred growth potential1

Permanent policies can build cash value. Earnings are tax deferred, and you can access your money while you’re alive.
Charles' Inspirations

“Discipline is necessary in every aspect of training, whether it’s in finance or your personal fitness.”

Discover more

Insights

Taking your plan to the max

Find out how to get the most out of your retirement plan.
Insights

Prepare for life’s big events

Make sense of college saving and financial planning.
Services

We’re here to help

TIAA consultants can help you understand the ins and outs of your accounts.
Insights

Changing jobs

Keep your retirement money working as hard as you do.
1 Withdrawals and loans will reduce policy cash values and the death benefit.
 
Life Insurance is issued by TIAA-CREF Life Insurance Company, 730 Third Avenue, New York, NY 10017. TIAA-CREF Individual & Institutional Services, LLC, member FINRA , distributes securities products. Each of the foregoing and TIAA is solely responsible for its own financial condition and contractual obligations.
 
TIAA Life Insurance Company is domiciled in New York, NY with its principal place of business in New York, NY. Its California Certificate of Authority number is 6992.
 
This article/story contains edited excerpts of an interview that describes the circumstances, opinions, and experiences of a specific participant from one or more of the companies in the TIAA organization (“TIAA”).  The circumstances, opinions, and experiences depicted may not be representative of the circumstances, opinions, and experiences of other TIAA customers and are not indicative of future performance or success.  Individual results and experiences will vary.
 
Level Term Life insurance, policy from series TCL-LPT.1 may not be available in all states.
Exclusions, restrictions, limitations, and reductions in benefits will, in certain situations, apply to your policy. For full details, including costs, call us at 877-276-9429.
The tax information contained here is not intended to be used and cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed herein. Taxpayers should seek advice base on their own particular circumstances from an independent tax advisor.
 
This material is for informational or educational purposes only and does not constitute a recommendation or investment
advice in connection with a distribution, transfer or rollover, a purchase or sale of securities or other investment property,
or the management of securities or other investments, including the development of an investment strategy or retention of an investment manager or advisor. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made in consultation with an investor’s personal advisor based on the investor’s own objectives and circumstances.
221789