CW-Sr Client Service Associate

The report uses 28 questions to assess financial literacy and is a joint initiative by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC), part of the Stanford Initiative for Financial Decision-Making (IFDM). It also highlights the important role financial literacy plays in financial well-being as adults with very low financial literacy are twice as likely to be debt-constrained and three times more likely to be financially fragile compared to those with very high financial literacy. "The persistent low levels of financial literacy underscore the need for targeted educational initiatives," said Annamaria Lusardi, an economist from Stanford University, the faculty director of IFDM, and a TIAA Institute Fellow. "To promote long-term financial security, it is essential to develop educational programs tailored to the diverse needs of various demographic groups and provide support where possible to help individuals make informed financial decisions.". Generational DifferencesIn addition to highlighting overall low financial literacy, the year's results reveal noteworthy differences across generations, underscoring the challenges faced by younger and older adults

John Douglas to Retire; Serve as Special Adviser to CEO through June 2026NEW YORK, May 15, 2025 /PRNewswire/ -- TIAA, a leading provider of lifetime income, today promoted Bret Hester to Senior Executive Vice President, Chief Legal Officer. Hester succeeds John Douglas, who will remain at TIAA as Special Adviser to the CEO through June 2026.Effective June 2, 2025, Hester will be responsible for legal, government relations and corporate secretary functions for both TIAA and Nuveen. He will report to CEO Thasunda Brown Duckett, join TIAA's executive committee, and be based in New York."John's legal prowess, unwavering dedication to clients, and deep passion for our mission make him an invaluable and trusted partner and I'm delighted that he will continue to serve in an advisory role," said Duckett. "We are also fortunate to be able to draw from our strong internal talent pool to promote Bret, whose deep experience will help us build on this foundation as we continue to fulfill and expand TIAA's mission."Hester currently serves as Executive Vice President, General Counsel and leads the legal team for TIAA Wealth Management and Advice Solutions, as well as the company's government relations and public policy team."I am grateful for Thasunda's and John's support and excited to contribute to both TIAA and Nuveen's enduring legacies and vital missions," said Hester. "I look forward to working alongside the enterprise leadership team and our talented and dedicated law and public policy professionals to help our clients achieve lasting financial security and investment success."Hester joined TIAA in 2017 from Barclays, where he led the Washington, D.C. office and previously served in the U.S

For many Americans, having a plan to leave money for their loved ones is a priority. According to a recent Empower survey, 40% of Americans say that leaving an inheritance for their children is part of having a happy retirement.Read Next: 3 Proven Strategies To Turn Middle-Class Earnings Into Lasting Family WealthCheck Out: 4 Things You Should Do if You Want To Retire EarlyIf this is one of your financial goals, you’ll likely need to look beyond your 401(k) to ensure you can save for your retirement and still have money left over.Here are three strategies you should consider to help you build a financial legacy.Diversify Your Retirement SavingsLook at accounts beyond your 401(k) to diversify your savings and investments, such as IRAs, brokerage accounts, annuities and real estate.“Many retirees assume their 401(k) will carry them through retirement, but a single-source strategy probably isn’t going to cut it,” said Rob Edwards, founder of Edwards Asset Management. “Healthcare costs, inflation and unpredictable markets make it critical to diversify.”IRAs offer unique advantages that you don’t get with 401(k) plans.“Unlike most employer retirement plans, IRAs give you the whole menu of what you can invest in,” said Rafael Rubio, president of Stable Retirement Planners in Southfield, Michigan. “You have more options to increase your assets. Traditional IRAs grow tax-deferred and can affect your tax bracket. Monies you invest in a traditional IRA are subtracted from your earned income for tax purposes.”Read Next: Suze Orman: 4 Moves Every Aspiring Early Retiree Must Make TodayMeanwhile, real estate can serve as an inflation hedge.“Real estate investments or other comparable sources of passive income can safeguard against inflation,” Edwards said.Evan Potash, executive wealth management advisor at TIAA, recommends utilizing brokerage accounts for their wealth transfer benefits.“Taxable brokerage accounts are ideal for additional savings, offering no contribution limits and a step-up in cost basis when inherited, which avoids capital gains taxes,” he said