BLUEPRINTS
TO BELIEVE IN
40% of Americans won’t have enough money to retire, and that number hits especially hard in marginalized communities.
At TIAA, we believe in the right to retire securely. That’s why, throughout 2024, we will highlight real individuals’ success stories, showcasing diverse paths to financial goals. Swipe through their Blueprints to Believe In for unique perspectives on building a brighter future.
Hugo Azpeitia
Pedroza
Virtual Financial
Consultant
I was born in Mexico.
At 8 years old, | migrated to the U.S. with my family.
I learned the value of hard work by helping out at my family’s mechanic shop.
I put myself through college, juggling multiple jobs to graduate debt-free.
As a young professional, I stuck to a financial plan to buy a house and investment property.
After getting engaged, I saved up with my fiancée to have the wedding of our dreams.
We have two children, whose college funds we contribute to monthly. Our oldest is 2 and 6 months, and the youngest is 9 months.
Advice I’ve Lived By
Get a debt-free degree.
Create a budget and stick to it to reach your financial goals. Be mindful of your spending even as your income increases.
Stay grounded.
Use the power of time to your advantage. Albert Einstein once said, “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.”
Don’t underestimate compound interest.
When I got my first professional job, I only thought about my “wants” and did not think of the long-term impact of my choices. Avoid that trap by being future-minded and investing in the life you really want.
For Hispanic youth building their future:
When I got my first professional job, I only thought about my “wants” and did not think of the long-term impact of my choices. Avoid that trap by being future-minded and investing in the life you really want.
Adalberto Padilla
Education Savings
Consultant
I grew up in a small town in Mexico.
I’m the 5th child in a family of six.
My parents didn’t have the resources to help pay for higher education.
Through scholarships and hard work, I earned a college degree from La Universidad de Guadalajara.
I moved to the United States.
I took English classes and secured a job as a bilingual bank teller.
Using the knowledge I’ve gained in the financial industry, l’m saving up for a nice retirement and a beach home.
Advice I’ve Lived By
Boost your benefits.
Young professionals should contribute to their retirement plans with at least the minimum company match.
Be rainy-day ready.
Cut out unnecessary expenses and build an emergency fund for peace of mind.
Swipe smart.
Be careful with credit cards and avoid overextending yourself financially if you can’t
fully pay it off.
For Hispanic youth building their future:
Start with the basics and learn about financial education when you are young and starting out.
Elynette
Martens
Managing Director,
Risk Management
I grew up in Puerto Rico surrounded by a big, supportive family, but money was tight.
I attended the affordable University of Puerto Rico, and graduated with an accounting degree.
I began a long-distance relationship with my future husband who lived in Washington, D.C. After we got married, we moved to Charlotte, NC.
When our two daughters were born, we immediately started college funds for them.
From my first job, I prioritized homeownership and saving for retirement.
On Christmas Eve, our home was destroyed in a fire and declared a total loss. We had to rebuild our home and make tough choices about where to allocate the money.
Now that both of my daughters are older, we put the money we previously used to spend on day care into investments and savings, which has provided my family with additional financial stability.
Advice I’ve Lived By
Set yourself up for success.
I was very proud to complete my education at the University of Puerto Rico and pass the Certified Public Accounting exam the year I graduated. I accepted a lower-paying job after graduation but learned a lot about budgeting and saving up for retirement. Now, I’ve advanced in my career and can build a secure financial future.
Accidents happen.
Fortunately, no one was hurt when our house burned down, and we had good insurance and emergency savings. I also recommend checking and adjusting your coverage for insurance policies.
Skip the fancy credit cards.
Don’t get all the credit cards that are offered. Instead, focus on minimizing debt, building a stable savings emergency fund, and living within your means.
For Hispanic youth building their future:
Life is hard to predict and you may have to recalibrate your budget many times to account for different challenges. Stay nimble and do your best to build an emergency fund so you can pivot more easily.