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Find your fit
Tackle your debt
Start by making a list of what you owe, including the interest rates and minimum payments for each debt. Next, create a budget that includes your income, expenses and debt payments. Then, explore repayment strategies, including the snowball method (paying off the smallest debts first) and the avalanche method (paying off the debts with the highest interest rates first).
Need support? Fidelity offers DIY credit and debt management solutions, tools, calculators and articles that support financial wellness.
More smart money moves
Take advantage of these financial benefits to make your paycheck stretch further.
Start with a Fidelity consultation
The Sandia 401(k) plan is designed to meet the savings needs of all participants. Make sure you’re aware of the features that can make this plan work for you.
You can meet one-on-one via Zoom with a Fidelity professional and get retirement planning guidance tailored to your unique needs from someone who understands how the Sandia 401(k) works.
When you check in with a Sandia 401(k) plan expert, you’ll gain peace of mind, knowing that you’re saving enough and using the right tools to help you achieve your retirement goals. You’ll discover features to help you customize your saving and investing strategy, model retirement costs and make a plan for the future.
Here are a few questions to ask:
- Should I save Roth or pretax, and how much?
- How much will I need to live on in retirement, and am I on track to get there?
- What are my investment options?
- How do I roll over my other retirement accounts into the Sandia 401(k) plan?
Log in to your Fidelity account to sign up for a complimentary one-on-one Zoom appointment. After you log in, use the Saba scheduling tool to schedule your session.
Pay your student loans and still get your 401(k) match
Worried that prioritizing student loan payments means you’ll miss out on the 401(k) match from Sandia? Fret no more because you can do both!
Sandia treats eligible federal and private student loan payments that you make to your U.S.-based loan provider the same way as 401(k) salary deferrals. You receive the Sandia 401(k) match of 66.667 cents for every dollar you pay on your loans, up to the first 6% of your earnings.
Eligible loans include your own student debt as well as cosigned and parent loans for your undergraduate or graduate education.
To get the match, log in to your Fidelity account and add your eligible student loans. You can track your payments there too.
Save on taxes
If you’re enrolled in the Health Savings Plan, you and Sandia contribute to a Health Savings Account (HSA). The money in your account helps you cover out-of-pocket medical expenses. You can also use the money in your HSA to pay for everyday health-related purchases.
The money in your HSA covers items like sunscreen, allergy medications, first aid supplies, feminine hygiene products and more. Even better, your paycheck goes further when you pay for them with the pretax dollars in your HSA.
Over the course of a year, these expenses can add up and eat a big chunk of your disposable income. For a list of HSA-eligible expenses, check out the Optum medical expense eligibility tool.
To pay with money from your HSA, use your HSA debit card, or pay out of pocket, save and store your receipts, and submit them at any time through the Optum Bank website.
When contributing to your HSA, keep in mind that your contributions and Sandia’s cannot exceed annual IRS limits. Sandia’s contributions include a match on what you contribute and incentives you earn for completing healthy activities. Get all the details at hr.sandia.gov.