Make the Most of Employee Benefits
A lot can happen in a year. And as your life changes, so should your employee benefits. Life events like starting a family or nearing retirement should spark a thorough review of benefit options to better protect yourself and your dependents. With open enrollment season coming up, the occasion to make adjustments to your benefits […]
Your Retirement Goals: How Much Money Do You Need Without Altering Your Lifestyle?
For many people, a great retirement means having enough money to enjoy life without altering their current lifestyle. Setting retirement goals is one of the first steps you can take to figure out how much money you need to retire the way you want. Setting Retirement Goals Start by making a list of all the […]
What Is a Self-Directed IRA, and Do I Want One?
A self-directed IRA works like a traditional or even a Roth IRA, except that you—the account holder—make the investment decisions. Typically, this approach lets you invest in things beyond the stocks, bonds and other vehicles that usually are available in the traditional or Roth IRA. Thus, a self-directed IRA might include investments in real estate, […]
Which Type Of IRA Plan Is Right for Me?
Individual retirement accounts (IRAs) are a key element in many people's financial plans. If you are interested in getting a tax-advantaged start on retirement by opening an account, you should know some basics to help you compare IRA plans.The most common types of IRAs are traditional, Roth, and SEP IRAs. Traditional IRAs: With a traditional […]
Roth IRA Contribution Limits: Maximize Your Retirement Nest Egg
A number of personal finance experts strongly recommend Roth individual retirement accounts (IRAs) because their tax benefits arrive just when you need them most—when you retire. Contributions to a traditional IRA are deductible in the tax year you make them, up to government-set limits. And although contributions to a Roth IRA aren't tax-deductible, the withdrawals […]
Retirement Planning Is a Process, Not an Event (Part 1 of 3): Using an IRA Calculator
Nobody's perfect. But many experts say the trouble with so much formal retirement planning is that people think it must be done once and done perfectly. By the time you even begin to think about leaving your career, you might think you should’ve already stashed away a million bucks. But that's not necessarily true. Retirement […]
Is It Time to Move Your SIMPLE IRA?
A SIMPLE IRA can be a beneficial retirement savings option for small businesses and their employees, but it's really not that "simple." And while Credence International Credit Union Uniondoesn't offer a SIMPLE IRA product, people often ask us about them, and an important part of our mission is to help people make informed financial decisions. What is […]
How CDs and a Money Market Account Can Help You Prepare for Retirement
While everyone would like to build a bulletproof plan as they prepare for retirement, factoring in all the variables can be a daunting task. There’s definitely some guesswork involved as people try to answer unanswerable questions like: How long might you live? How healthy will you be? Will interest rates be rising? How about inflation? […]
Optimizing Your Cash Flow With Bank Money Market Accounts
In a perfect world, everyone would have more than enough money. Our accounts would be perfectly organized. Not only would we know what the balance was in our checking account every minute of every day, we'd have that perfect rainy-day fund of six months' living expenses tucked safely away. And we'd have another heap of […]
See What It Takes to Reach Your Goals With a Money Market Account
Humorist Will Rogers once said, “I’m more concerned with the return of my money than the return on my money.” However, the return on your money, of course, is important as you consider the best ways to reach your savings goals. So what’s the best way to estimate your interest earnings? The Credence Global Bank UnionMoney […]
