Investing in Your 50s, Part 4: Your Pre-Retirement Checklist for University Employees

Heather Asteriou
2 days ago
2 min read

As you move through your 50s, it is time to become proactive. Retirement is no longer just a concept, it is a coming transition. A simple checklist helps you tackle the key financial tasks so you can retire with confidence and clarity.

Pre-Retirement Checklist

1) Max out contributions

Starting at age 50, the IRS allows catch-up contributions to your 403(b). For 2026, the catch-up amount is $8,000 on top of the annual elective deferral limit. Over a decade, that can add $80,000 in tax-advantaged savings, not including growth. Log in to TIAA or Fidelity and confirm your contribution rate reflects this.

2) Optimize your investment mix

Gradually adjust your stock and bond balance so it matches your time horizon and comfort level. Many investors in their 50s move toward a 60-40 or 50-50 stock-to-bond mix to reduce volatility. Avoid going too conservative too soon, especially if you plan to work into your 60s or 70s. In TIAA or Fidelity, you can use a target date fund or build a custom mix of broad index funds and core bonds.

3) Estimate your retirement income

Project income from multiple sources: your TIAA or Fidelity 403(b), Social Security, and personal savings. Convert estimates to a monthly figure and compare that to a realistic budget. Update assumptions for inflation and timing so the plan reflects your real life.

4) Prepare for market volatility

Check how your portfolio might respond to a downturn within five years of retirement. Review exposure to stocks, bonds, and any TIAA annuity-style options with liquidity rules. Consider adding a modest cash reserve for near-term spending, and turn on periodic rebalancing in TIAA or Fidelity so you stay at your target mix. Consider implementing a risk management system to attempt to avoid large drawdowns.

5) Update legal and financial documents

Review beneficiary designations for all accounts, including your 403(b). Make sure your will, powers of attorney, and healthcare directives are current and stored in a place your trusted contacts can access.

Bonus tip

If you plan to work part time or pursue phased retirement, speak with your HR office about how this affects benefits, pension accrual, healthcare, and retirement income timing.

Next steps

Log in to TIAA or Fidelity and confirm contributions, allocation, and rebalancing.
Adjust your savings strategy based on any projected gap or surplus.
Put these tasks on a simple annual calendar so 55 to 65 becomes your most strategic financial decade.
Consider consulting a professional for retirement planning or portfolio management

In case you missed earlier posts