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Guidance from Fidelity and TIAA: Financial Goals to Strengthen Your Future

Published on by MSU Human Resources

As a benefits-eligible employee, you may know about the generous retirement savings programs and resources MSU offers to help set you up for a successful retirement. However, MSU’s retirement plan vendors, Fidelity and TIAA, can help you with more than just retirement planning. Whatever your financial goals – such as funding a big purchase, paying down debt, or creating a sustainable budget – Fidelity and TIAA can help you create a plan to achieve them. 

Fidelity and TIAA are financial professionals who can provide strategies and advice to help you take charge of your finances. Review the goals below and then contact your vendor using the following information. 

  1. Create a Budget: Many people only have a vague understanding of their spending habits or financial situation. Between trying to comprehend financial jargon, figuring out your goals, and understanding how to balance debt, saving, and investing, it’s no wonder people often bury their heads in the sand. Luckily, Fidelity and TIAA have tools, resources, and advice to help us make a plan and stay on track. Learn More: 
  2. Build an Emergency Fund: Setting aside money for an emergency – such as unemployment, surprise medical or vet bills, or unplanned home repairs – is a key element of basic financial planning and often the first step advisors will recommend. According to TIAA, “you should aim to have enough to cover 6 months of expenses in a readily accessible account.” (TIAA, 2026). These living expenses include the things you absolutely must pay for each month, such as food, housing, utilities, child care, health care, transportation, debt payments, or similar. 

    The latest report released by the Federal Reserve found that 37% of adults would not be able to afford a $400 emergency expense (2025, Federal Reserve), which means they would have to use credit cards, personal loans, early retirement withdrawals, or ask family/friends for assistance. Saving towards an emergency fund – even if it’s only a small amount each month – can help you build a safety net to keep you out of debt. Learn more: 
  3. Pay Down Debt: The average American owes more than $105,000 in debt across mortgage loans, home equity lines of credit, student loans, auto loans, credit cards, and personal loans (Fidelity, 2025). While having debt isn’t necessarily bad – a mortgage loan, for instance, can help you build wealth and eventually own a home – having too much debt or high-interest debt can lead to financial stress. Fidelity clarifies, “Good debt is generally considered any debt that may help you increase your net worth or generate future income. Importantly, it typically has a low interest or annual percentage rate (APR), which experts say is normally under 6%” (Fidelity, 2025). 

    TIAA and Fidelity offer actionable steps to help you move in the right direction. Review the resources below for advice on managing debt and contact your vendor directly to receive personal financial advice. Learn more: 
  4. Maximize Your Retirement Investment: Most benefit-eligible employees1 are enrolled in the 403(b) Base Retirement Program, which consists of a 5% employee contribution of your eligible compensation and a generous university matching contribution of 10%. That’s an immediate two-for-one match of your investment for a total contribution of 15%. While this provides a great foundation for your retirement savings, you may eventually want to consider additional options. It’s important to note that the IRS places limits on how much employees can contribute to their retirement savings accounts each year. However, many people may discover there is a lot of room before their current contributions reach that limit. Fidelity and TIAA can help you determine what your retirement contributions should be to help you reach your personal retirement goals – whether that date is 30 years in the future or just around the corner. Learn more: 
  5. Plan Your Estate: According to TIAA, “More than two-thirds of Americans don’t have a will. If you die without one, state law determines how your assets are distributed.” (TIAA, 2026). Despite the challenging nature of the topic, creating a solid plan can give you and your family peace of mind and the confidence that your wishes will be carried out as desired. Learn more: 

Questions? We encourage you to reach out to Fidelity â€Ż(800-642-7131) or TIAA â€Ż(800-732-8353) with your financial or retirement planning questions. 

1 Certain types of employees are excluded from participating in the 403(b) Retirement Plan. Please see the 403(b) Base Retirement Program Eligibility Chart for more details.  

Sources: 

Building an Emergency Fund. TIAA. (n.d.). https://www.tiaa.org/public/learn/financial-education/building-an-emergency-fund

Good debt vs bad debt. Fidelity. (2025, October 116). https://www.fidelity.com/learning-center/smart-money/good-debt-vs-bad-debt 

How to make a financial plan. Fidelity. (2024, February 21). https://www.fidelity.com/learning-center/wealth-management-insights/how-to-make-a-financial-plan-video 

Report on the economic well-being of U.S. households in 2024 – May 2025. Board of Governors of the Federal Reserve System. (2025, May). https://www.federalreserve.gov/publications/2025-economic-well-being-of-us-households-in-2024-executive-summary.htm   

Tips for managing and reducing your debt. TIAA. (n.d.). https://www.tiaa.org/public/learn/personal-finance-101/debt-consolidation 

Top Estate Planning Pitfalls and How to Avoid Them. TIAA. (n.d.). https://www.tiaa.org/public/invest/services/wealth-management/perspectives/estate-planning-pitfalls  

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