No matter your age or career stage – new hire, mid-career, nearing retirement, retired – it’s never too early or late to take charge of your finances. Consider these two oft-quoted “golden rules” in personal finance:

  1. Live within your means
  2. Look forward to the future and save for it

Here's a tip: Start today! Check out the collection of resources and information on this page. Click on one of the links below to be taken to that section.

Get started and learn at your own pace

  • Keep doing all that you can to maximize your WRS benefits and know how they work
  • Get a personalized playlist of eLearning modules* through Summit Credit Union that will teach you how to make solid financial decisions
  • The Financial Fitness Academy has a number of great courses on personal finance, saving and investing topics and strategies, the investment markets, choosing a financial planner, and much more 

Update information and benefits coverage with the WRS

Ready, set, plan

Increase income for retirement

Paying for health care in retirement

  • Find out how your Health Benefits in Retirement work – you’ll find information about your State and Local benefits, Medicare, as well as links to videos and resources
    • Local employees: make sure to find out what health insurance benefits your employer offers to its retirees and begin to plan accordingly
  • Now is a good time to educate yourself about Medicare in order to make well-informed decisions later
  • Review current plan year information about your specific health benefits under the program, enter your employer on the Benefits Available to Me page
  • The Financial Fitness Academy has a number of great courses on healthcare in retirement, including an introduction to Medicare, health savings accounts, long-term care insurance, medical advance directives, and much more

Review Variable Fund participation

If you participate in the optional Variable Fund, consider whether you want to remain in the fund or cancel at some point. Variable Fund has information and tools to help you make an informed decision

Review Life Insurance Coverage

If you participate in the State of Wisconsin Group Life Insurance Program, visit Life Insurance to review your options for changing, canceling or continuing your coverage. 

The Financial Fitness Academy has some great courses on life insurance, including details on types of coverage (whole life, term, etc.)

Use WDC Funds

Decide when and how you want to receive money from your WDC account by going to the Getting Money from My WDC Account page.

Apply for Retirement

  • Go to the Applying for Retirement page to take the first step in applying for retirement by requesting an official estimate of benefits
  • Use the Retirement Checklist to take you through all the steps to prepare and apply for retirement
  • Learn how your age at retirement may affect when you may retire and the amount of your benefit by going to the When Can I Retire page

Keep your information up to date and take care of benefits with Life Changes

Review income and budget

  • Use Empower Retirement's Monthly Budget tool to explore your monthly fixed and flexible expenses and identify areas for additional saving
  • Review Summit Credit Union's Creating a budget learning module* and use their blogs and tools to aid your different budgeting needs

Manage loans and credit card debt

Pay for retirement comfortably

  • Your lifestyle choices may have implications for your spending in retirement. Use Empower Retirement's calculator to estimate how your lifestyle choices in retirement, as compared to your current lifestyle, may affect your expenses. The Retirement eLearning series provides information about health savings accounts, planning for retirement, reverse mortgages, and when to collect Social Security
  • Learn how you should prepare for an eventual retirement with Summit Credit Union's Preparing for Retirement eLearning series*

Make an estate plan

Manage long-term care/elder care

  • Our Caregiving page provides information about being a caregiver as well as tools and information for your caregiving needs
  • The Caring for aging parents page from Empower Retirement offers information for creating a plan to take care of aging parents
  • Summit Credit Union offers a Financial Caregiving series of 5 eLearning modules: Preventing Elder Financial Abuse, Reporting Elder Financial Abuse, Planning for a Financial Caregiver, Expectations of a Financial Caregiver, and Becoming a Financial Caregiver

Manage investments

  • Go to the Investing page to find information about WRS Performance, mange your investments with the WDC and view our partner resources to learn more about investments

*Requires email sign-in to access free resources