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.
Kevin
Collins
Director,
Financial Consultant
I grew up in a suburb 20 minutes outside of Denver.
Per family tradition, I attended University of CO, Boulder (GO BUFFS!!!) and joined their cheerleading team.
I attended college in the aughts, so designer fashion was huge — but so were my credit card statements!
I graduated right in the middle of the financial crises in ’08-’09 and had to take a retail job that barely paid rent.
Luckily, I scored an internship at a financial services company and worked my way up.
I put down the credit cards and designer jeans — and began saving for my future.
Eventually, I got a bonus and used it to purchase a condo of my own in Denver proper.
Today, I’m saving up to live the lux lifestyle I’ve always dreamed of — responsibly!
Advice I’ve Lived By
Pay yourself first.
Growing up, I heard these words from my dad countless times — and as much as I hate to admit it, he was right! I’m my boss in retirement — I determine how much or how little I will make, so it’s up to me to give myself the ability to live the life I want.
Invest for the long term.
Sure, a new designer bag, a fancy car, a new phone look great … but in six months, a year, five years … do they still look great? I shudder to look at my old Facebook photos! Invest in yourself and in your future. Invest in assets that appreciate, not in the latest fad.
Think of savings like making a snowball.
It’s much easier to start rolling your financial snowball at the top of the hill (early in life) and let gravity do the work. Roth IRAs and retirement plans — all are wonder vehicles that leverage compounding to help you get to your goals.
For young LGBTQ+ individuals building their future:
I sound more and more like my dad as I age (yikes), but build and maintain an emergency fund! Having that cushion of cash will protect you from charging unexpected expenses on a credit card and putting you in the miserable financial situation I experienced.
Jessica
Austin
Barker
Chief Digital & Client
Experience Officer
I was raised in Austin, TX by my young single dad.
In middle school we moved to one of the only multi-family complexes in a nice suburb, so I could attend a good public school.
As a teenager, I became acutely aware of my family’s paycheck to paycheck financial status next to my affluent peers.
Some of my family struggled with financial anxieties. I realized I had no safety net and would need to be financially self-reliant.
I chose to go to the University of Texas for in-state tuition. I worked through school and avoided student debt. This allowed me to start saving for the future early on in my career.
I eventually secured a job in consulting that gave me the stability I’d always wanted. I was able to save enough for my first home, take vacations, and pay for regular expenses without worry.
When I had kids, I was fortunate that I had saved. I was able to work part time for few years.
When I retire, I’d like to explore the world even more, discover new passions, and enjoy more time with my wife and kids.
Advice I’ve Lived By
It’s not what you make, it’s what you save.
Even as I advanced in my career and earnings, I was intentional to not increase my spending proportionally, but rather to save more. This has been my version of “Financial Freedom” and minimizing the feeling of golden handcuffs.
Don’t let social pressure extend you beyond your means.
Be careful to avoid external pressure of keeping up with the Joneses. You have to make trade-offs. In fact, I’ve encouraged my teens to start their lives elsewhere than their hometown in San Diego, CA in order to live within means.
Try not to take on additional debt.
Save, Save, Save. Make sure to not take on additional debt if you have some already. It’s what sets you up for financial security and freedom of choice down the road. It’s even allowed me to help out family members in need.
For young LGBTQ+ individuals building their future:
Although I became aware of our financial status in middle school and often felt embarrassed by it, I also learned a valuable lesson that money does not always equal happiness. From this I realized the importance of saving to set your future self and loved ones up for success.
Sarah
Axelson
Vice President, Advocacy
Women’s Sports Foundation
I am the 3rd generation in my family to be born and raised in Long Beach, CA.
Financially, my family had what we needed because we didn’t prioritize trendy or expensive things.
After college, I knew I wanted to go to grad school but waited until I was certain I knew which one would help my career most.
I worked full time to attend grad school without having to take out student loans.
I became financially stable enough to invest in experiences like going to see the Women’s Olympic Soccer Gold Medal match.
I chose a home with a budget I was comfortable with — not the most expensive I could afford.
My wife and I welcomed our daughter in 2020 and our son in 2024.
Advice I’ve Lived By
Stash cash in your 401k.
Let your money work for you! If your company matches your contributions, definitely try to take advantage.
Get real about home expenses.
Buying a house is a long-term investment. Be sure that you’re comfortable with all the payments that will come along with it (mortgage, taxes, etc.).
Responsibilities grow when your family does.
If you decide to have kids, do what you’re able to ensure you have peace of mind for the long-term, whether that’s a life insurance policy or starting a college savings account.
For young LGBTQ+ individuals building their future:
Don’t be afraid to invest in yourself and your future but do so thoughtfully and with intention.