Retirement Planning for Mayo Clinic Employees and Retirees
Many Mayo Clinic employees believe they need to wait until retirement before working with an outside advisor. Others assume they can only receive guidance from resources connected to their employer. The reality is that your Fidelity 403(b), retirement strategy, and long-term planning decisions can be reviewed while you're still actively employed.
Tiarks Financial has spent more than 20 years helping Mayo Clinic employees and retirees understand their benefits, evaluate retirement decisions, and create plans designed around their individual goals.
Trusted by Mayo Employees Across Southeast Minnesota
For more than two decades, Tiarks Financial has worked with employees and retirees navigating the unique retirement decisions that come with a Mayo Clinic career. From Fidelity 403(b) planning and pension elections to Medicare enrollment and group life insurance transitions, we understand how these benefits interact because we've helped people work through them for years.
The Retirement Decisions We Help Mayo Employees Navigate
403(b) Planning
Many employees remain invested in the same allocation for years without reviewing whether it still supports their retirement goals. We help evaluate contribution strategies, investment elections, retirement readiness, and rollover options while you're still employed.
Pension Planning
Choosing between a lump sum and monthly pension payments is one of the most significant financial decisions many retirees will ever make. We model both options using your specific situation so you understand the tradeoffs before making a permanent election.
Social Security Planning
The timing of your claim affects every other income source in retirement. We help evaluate claiming strategies and lifetime benefit considerations before applications are filed.
Life Insurance in Retirement
Many employees are surprised to learn that employer-sponsored life insurance coverage often changes or ends at retirement. We help evaluate replacement options and determine whether additional coverage is necessary.
Medicare Planning
Healthcare planning becomes increasingly important as retirement approaches. Our dedicated Medicare advisor helps retirees understand enrollment deadlines, coverage options, and healthcare costs.
How The Retirement Roadmap Helps Mayo Clinic Employees
Retirement decisions are easier when you can see how they affect the rest of your financial picture. The Retirement Roadmap organizes your retirement accounts, pension options, Social Security strategy, healthcare costs, and retirement goals into a personalized planning process.
Discover
We learn about your goals, retirement timeline, benefits, and financial concerns.
Evaluate
We model pension options, retirement income scenarios, Social Security timing, and healthcare considerations.
Plan
We create a personalized roadmap designed around your specific retirement goals and income needs.
Common Questions About Retirement Planning at Mayo Clinic
Can an outside advisor help with my Fidelity 403(b)?
Yes. You do not need to wait until retirement to receive guidance on your 403(b). An independent advisor can review investment allocations, contribution strategies, retirement readiness, and planning opportunities while you remain employed.
Should I take my pension as a lump sum or monthly payment?
The answer depends on your retirement income goals, spouse's needs, tax situation, risk tolerance, and other retirement assets. We help model both options before any election is made.
Do I need to be retired before working with Tiarks Financial?
No. Many clients begin planning years before retirement to gain clarity around their 403(b), retirement readiness, and long-term goals.
Can you review my Fidelity 403(b) while I'm still employed?
Yes. We regularly help Mayo Clinic employees review allocations, contribution strategies, and retirement planning opportunities while they remain employed.
How far in advance should I start planning for retirement?
Many people begin serious retirement planning five to ten years before retirement. Starting earlier provides more flexibility and more opportunities to improve outcomes.
Can you help evaluate my pension election?
Yes. Pension analysis is one of the most common reasons Mayo employees contact our office. We model both lump sum and monthly income options before elections are finalized.
Do you only work with Mayo employees?
No. We work with retirees and pre-retirees throughout Southeast Minnesota, but our experience with Mayo Clinic benefits is one of our strongest areas of focus.
What happens to my group life insurance when I retire?
Many employer-provided life insurance benefits change or disappear at retirement. Understanding your options before retirement gives you more flexibility and potentially lower costs.
Your Mayo Benefits Deserve a Plan Built Around Them
Your pension, Fidelity 403(b), retiree benefits, Medicare decisions, and retirement income strategy all affect one another. Tiarks Financial helps bring those pieces together so you can understand how today's decisions influence tomorrow's retirement.
We work with Mayo Clinic employees and retirees throughout Rochester, Owatonna, Austin, Faribault, and Albert Lea who want retirement guidance from advisors who understand the benefits they're working with.
