You don't need to start with large sums of money to invest for retirement, and you don't have to be a pro. Resources abound on the Web sites of each of our vendors.

Vendor resources:

TIAA-CREF's "Investing Today" explains such topics as why you need to start with long-term goals and how beginning early in your career can help; selecting the right investment vehicles; managing risk, including investing in volatile markets; diversifying wisely; and regularly revisiting your investment portfolio. See http://www.tiaa-cref.org/pubs/pdf/52319_investing.pdf.

For the complete lineup of articles and topics, see http://www.tiaa-cref.org/support/learningcenter/saving-for-retirement/index.html and publications at https://www3.tiaa-cref.org/bookstore/list.do?cat=-1. Tools and calculators can be found at http://www.tiaa-cref.org/support/tools/index.html.

Fidelity Investments offers a complete retirement resource center, at http://personal.fidelity.com/retirement/retirement_frame.shtml.cvsr. This site includes many resources on planning for your goal, exploring investment options and staying on track, along with "10 Smart Moves for Retirement" at http://personal.fidelity.com/planning/retirement/content/10_smart_moves.shtml.cvsr?refpr=rrc30.

ING also has a complete library of two-page reports that focus on key retirement planning topics, many of which apply to all investors, not just contract-college employees. These include the same topics as the above sources, as well as such topics as retirement planning for women, making your way out of debt and what to do with your retirement plan assets if you change jobs. See http://www6.ingretirementplans.com/SponsorExtranet/SUNY/Education/index.html.

SkillSoft Courses

A number of Skillsoft courses also are available online that relate to retirement and managing finances in general. To access these courses, if you have not already registered and obtained a password from Organizational Development Services, call 254-6400 or e-mail org_dev-mailbox@cornell.edu. Go to http://suny.skillport.com and search "retirement" and you will be linked to the courses below:

• Planning for Retirement and Retirement Accounts
• Understanding Employee Benefits
• Managing Your Cash Flow and Credit
• Separation and Divorce

Personal Appointments

In all of your planning and reading, because of all the variables you may need to consider, it is also worth your time to make an appointment to speak with a representative from one of Cornell's retirement vendors or a staff member from Benefit Services or to attend one of the seminars Benefit Services offers to those over age 50.

Three principles to follow in an uncertain financial situation

• Minimize debt. If possible, pay off high-interest loans and credit cards.
• Maximize savings. Keep some reserves in readily available savings at all times. Anything is better than nothing, but planning experts suggest having at least three months' worth of living expenses available in case of emergency needs.
• Track expenses every month to see where the money goes. Then decide how to spend less without undercutting your minimum lifestyle expectations.

Three principles to follow for a secure future

• Start saving for retirement early in your career, even if it is only a small amount. The money will be deducted from your paycheck, so it won't be missed the way it would be if you had to pay it directly each month. Money that goes into a Cornell retirement account is tax-deferred. The effects of compounding over time are not to be underestimated, even if designated amounts are small.
• Diversify investments. Representatives from TIAA-CREF, Fidelity (and for contract colleges, MetLife or ING), can help assess your tolerance for risk, and your short- and long-term needs. Our retirement plan vendors are able to provide much more help than ever before to help select investment options that are appropriate for your investment objectives or goals.
• Use the resources available for Cornell employees. In addition to the representatives, the vendor Web sites provide many useful tools and articles to help with financial and retirement planning. These Web sites are becoming a major source of information for investors. They are updated often, so visit them frequently.