To update your preferences and enroll in paperless statements, log into the account portal, click on your name and update your communication preferences.
It’s important to become familiar with your quarterly statement and how it pertains to your retirement account activity. A better understanding of your account activity may help you take a more active role in achieving your financial goals for a comfortable retirement.
Follow the four steps to access your online account: Click the Employee Login button on cra-online.org;
Click Login Help to create an account;
Enter the verification code sent to your device;
You’re in!
If you have looked at your retirement account (or other investments) balance recently, there’s a good chance you didn’t like what you saw. While it doesn’t feel good to see your savings decrease so drastically, this is part of regular market cycles.
Let us offer you a silver lining, there are steps you can take to insulate yourself from major losses and most of them are very easy.
Stay the Course
Right now, you’re suffering losses on paper. Selling and leaving the market would make those losses real. You still own the same number of shares of stock that you did before, they just have a lower value (at this time). You wouldn’t sell your car just because it’s Toyotathon, would you? If anything, you might consider buying a new car at the discounted rate.
Retired? Tighten the Budget (If You Can)
If you’re already at retirement and depend on your retirement savings for income, you might not have the choice to just leave your money in your account. In this case, do your best to minimize withdrawals. Wait until the market recovers to make expensive purchases, cut out flexible costs, but take care of yourself.
Colorado Retirement Associationoffice will be closed Monday, February 20, in observance of the Presidents Day and will reopen on Tuesday, February 20, 2023 at 8:00 am.