TIAA

I called over to Tom Jones, who ran our asset management company.

Previously, he had run TIAA-CREF, and he was at 7 World Trade Center, which was there, and I told him he needed to get everybody out and start moving.

He kinda, uh, went back and forth with me that n- he was advised by building, uh, uh, by building security, that being the Trade Center and the Port Authority, everybody should stay in place.

I said, "Look it, uh, there's no way that could be right." And as I'm saying that, uh, I could see vividly right now what I saw, which was the next plane hitting the tower.

And so this Coast FI, so here's the one that I'm talking about here.

In a recent survey, this is by TIAA.

Of 1,000 Americans, 15% of respondents said they were actively pursuing Coast FI.

The same survey found 64% of Gen Z, they said they felt very or somewhat confident that they will be able to retire comfortably by a traditional age, down from 77% last year.

episode of the CEO Daily Brief.

My guest today is Rashmi Bhadwe, who's the EVP and CEO of TIAA.

That's a mouthful for you, isn't it? And she came on the show to talk to us about how they're deploying AI and what they're learning from it.

And the interesting lesson here is not just what they're using AI for, but the different decisions that they are making now that they have created more capacity because of AI.

think you're bringing up an interesting point, which ties to the whole AI adoption story, because I think it's been oversimplified.

AI adoption is not an outcome.

The question that I think leaders need to be asking is, what are you doing with the capacity that AI is creating in your organization? Are you using it to cut costs or using it to create growth? So I'd love to hear your leadership philosophy on that and how TIAA is thinking about that.

Yeah, I would say we are definitely indexing far more on the end of creating growth.

And like Mass Mutual owns 7% of the assets that Mass Mutual owns have Egan Jones rated debt.

And for TIAA, that's 18%.

principal financial group, 20%.

I don't mean to cause any

My name is John.

I work in Texas for a 5013C private research facility that has a 403B retirement plan through TIAA.

Recently, I asked a question to our retirement staff that oversee the plan, why we don't have access to ETFs.

And I was told that they're restricted from 403B plans and also ETFs are restricted for 401K plans.

Yeah.

I forgot to tell you that I have, uh, like, a TIAA CREF, what they call it.

I have-

Yeah.

Yeah.

Well, the good news is if he does that, he's got the 40,000, and I've just plugged in our calculator here.

He's got the 40,000 already sitting in TIAA CREF.

If he continues to put 15% of his income in for the next eight years, I mean, that's gonna be $200,000 for Carlos.

It was twice the income.

You had all your clients already set because they're TIAA-CREF, and somehow they got every college, university, and hospital in the country.

And I was done doing 10 years of work of killing what I ate as a young, late 20, early 30-year-old.

It was tough, and all I wanted was a salary.