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BALTIMORE, Feb. 22, 2022 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, has published financial planning tips and reminders for retirement savers as they build their 2022 financial plans. Setting clear goals and having an overarching plan are important elements in making financial progress, and with many investors reexamining their careers and starting new roles, it can be an especially important time to revisit financial plans.

Some tips include:

• Consider a spousal individual retirement account (IRA) if one spouse has left the workforce or has little to no income. Contributions to a spousal IRA can help married couples maximize the amount they are saving for retirement.
• Decide the best way to approach a 401(k) account when retiring. Rolling assets from a 401(k) into an IRA isn't the only option investors have. Investors should evaluate their financial situation and their specific 401(k) distribution options before making a decision.
• Remember that building an annual financial plan does not stop with the foundation. Investors should routinely check in on their progress throughout the year and make adjustments as needed.

"As many investors have reexamined their career paths, a new year is an opportunity to refresh and to refocus their financial goals," said Judith Ward, CFP®, thought leadership director at T. Rowe Price. "It's important for investors to take a holistic view of their income and expenses to help align their financial decisions and objectives with what is realistic in their current situation."

ABOUT T. ROWE PRICE
Founded in 1937, T. Rowe Price (NASDAQ-GS: TROW) is an independent global asset management company with $1.58 trillion in assets under management as of January 31, 2022. The firm is focused on delivering investment excellence and retirement services for institutional, intermediary, and individual investors. Our strategic investing approach, driven by independent thinking and guided by rigorous research, helps clients feel confident in pursuing financial goals. For more information, visit troweprice.com, Twitter, YouTube, LinkedIn, Instagram, or Facebook.

View original content:https://www.prnewswire.com/news-releases/t-rowe-price-publishes-retirement-planning-tips-for-investors-making-a-career-change-in-the-new-year-301487708.html

SOURCE T. Rowe Price Group, Inc.

CONTACT T. ROWE PRICE, PUBLIC RELATIONS, Monique Bosco, 410-345-5740, Monique.Bosco@troweprice.com; Laura Parsons, 443-472-2281, Laura.Parsons@troweprice.com