Why Faculty Need a Different Approach to Retirement Planning in 2025
If you're like most faculty I've spoken with lately, you're asking yourself a very human question:
Am I still on track?
Between inflation, market volatility, global instability, the upcoming election, and the looming changes to the estate tax in 2026, even the most prepared professionals are feeling uneasy.
And if you're an academic or physician—someone who’s spent decades guiding others, researching, teaching, healing—there’s a particular kind of uncertainty that comes with retirement. You’ve built a rich and meaningful career. But now you’re entering a phase of life for which you may not feel as well-trained.
That’s where I come in.
Who I Am and Why I’m Writing This
I’m Dan Fagan—a financial planner with over 30 years of experience helping academics and physicians retire smarter. I’m the founder of Radiant Wealth Management, and before that, I spent 17 years at TIAA advising faculty at Yale, UConn, Wesleyan, and other institutions throughout the Northeast.
Over the years, I’ve sat across the table from brilliant people with impressive CVs—but not always a clear retirement plan. That’s not a failure. It’s a reflection of just how complex and opaque our retirement system can be—especially for those in higher education and medicine.
This Substack is my way of bringing clarity to that complexity.
What You’ll Get Here
This newsletter is for tenured professors, adjunct faculty, academic physicians, administrators—anyone who’s spent a lifetime in service and wants to approach retirement with clarity and confidence.
Here’s what you can expect from future posts:
✅ Plain-English insights on TIAA, 403(b)s, 457(b)s, annuities, and IRAs
✅ Strategy-first thinking—no product pushing, no hype
✅ Estate planning guidance, especially with the 2026 estate tax changes looming
✅ How to structure retirement income for predictability and tax efficiency
✅ Real-world stories and case studies from faculty just like you
✅ Emotionally intelligent financial advice from someone who understands your world
Important 2025 Updates You Should Know About
The retirement landscape is shifting. Here are four key updates that may impact your planning this year:
📌 The IRS has increased the defined contribution limit to $70,000 (up from $69,000)
📌 The 403(b) personal contribution limit is now $23,500
📌 New SECURE 2.0 rules require automatic enrollment for newly established retirement plans
📌 Universities are implementing new savings programs designed to improve retirement readiness
Today’s Takeaway: Start with What You Can Control
There’s a lot we can’t predict right now—but here’s one thing you can do:
Review your Required Minimum Distribution (RMD) strategy.
Under SECURE 2.0, RMD ages have shifted—and so have the planning opportunities. If you’re nearing age 73 (or advising someone who is), thoughtful timing around withdrawals, Roth conversions, or charitable distributions can make a meaningful difference in long-term tax exposure.
If no one’s ever walked you through your TIAA annuity income options—that’s exactly the kind of conversation we’ll have here.
Thanks for Being Here
This is the start of something I’ve wanted to create for a long time: a steady, thoughtful voice for those navigating one of life’s most significant transitions.
If this resonates with you, I’d love for you to:
- Subscribe to receive future insights directly in your inbox
- Forward this to a colleague who might benefit
- Send a question to dan.fagan@radiantwm.com—I’ll read every message
Your career has been spent building futures.
Now it’s time to secure your own—with clarity, compassion, and strategy.
—Dan
Why now?
After three decades working one-on-one with academics, I’ve seen how traditional retirement advice often falls short. With sweeping tax changes ahead and evolving plan rules in 2025, there’s never been a more important moment for specialized, faculty-focused guidance.
