To save for a comfortable retirement, many people shoot for a number. If you’re one of them, and you’re diligently saving toward that goal, great! But it takes more than a commitment to your 401(k) to build a financially solid retirement. Along with how much you save, you need to
When friends and loved ones finally raise their glasses to bid you a long and healthy retirement, you don’t want to be worrying about how your bills will get paid. That is why it is so important to participate in your company’s retirement plan now. On the road to retirement,
It is a good estimate that you will probably need 60-100% of your final year’s working salary for each year in retirement. Social security will cover between approximately 20-40% of your pre-retirement income at your full retirement age. That is only a fraction of what you will need, and this
Saving for retirement isn’t hard. Getting started is. Gone are the days when workers could count on an employee pension plan and Social Security to cover their costs during those golden years. Today, pensions are a rarity and Social Security isn’t a slam-dunk for future generations since we have an aging population and
Adulting is hard, and it makes it difficult to think past the “here and now.” With retirement decades away for those in their 20s and 30s, planning might not be high on the priority list. The problem with this mentality is that it can drag on for years or even decades. According to the Motley Fool ,
It’s tempting to get swept up in dreams of the future and look right past what we need to do today to help make them a reality. So whether you want to improve your credit score, slash your debt or finally start that emergency fund, we’ll be your supporting role
Gary Hinrichs was named President and Chief Executive Officer (CEO) of West Community Credit Union (then known as Brentwood Mutual Credit Union) in 1974 – he was one of only two employees. Hinrichs started his credit union career while still in college, earning his degree in Business Administration from the
1. Not taking advantage of the Stretch distribution option or not establishing it properly. The Stretch IRA is a way for each IRA beneficiary to maximize payouts over their life. Properly designating beneficiaries and informing them of the IRA owner’s Stretch intentions are key to making this strategy work. 2.
The big game is this weekend and while it’s not the most logical time to be thinking about retirement during your party planning, the two actually have a lot in common. Apply these football strategies to your savings plan to win big: 1. Small gains can go far As long
Do you know the difference between saving at a credit union versus bigger banks? At a credit union, your savings generate super powers in the form of pay it forward money. When you deposit money into a savings account, that money turns into a loan for a fellow member to
