Your Retirement Journey
Retirement may be just around the corner or a few thousand miles down the road. The RBFCU Investments Group wants you to know how different life stages — despite your age — play an important part in managing your retirement savings.
If you’re just starting a career, it may not seem important to begin saving for retirement. After all, rent, bills, student loans and other expenses may be chipping away at your paycheck. However, it’s important to think about saving something — even if it’s just a small amount. If you invest in a good retirement plan early on, time can work in your favor. The money you set aside for retirement will compound over your working years, making it worth more in the end.
Newlyweds and Growing Families
Typically expenses start to increase once you get married and start a family. At this stage in life, a mortgage, car payments and day care costs may bring on extra stress and have you wondering how to make ends meet, let alone start saving. As tempting as it may be to stop saving for retirement, continue putting away what you can. If you or your spouse is considering taking a career break to help raise your family, consider contributing more to help make up the difference.
At this point, you may be earning the largest salary of your career. However, that may or may not mean your expenses are under control. With kids off to college, aging parents and possible health issues for you and your spouse, your extra income may quickly disappear. If your earnings have peaked, it could be time to ramp up your retirement savings. Talking with a financial professional at this stage is important. They can help ensure you’re on the right track as you near your retirement years.
Prepping for Retirement
Congratulations! Retirement is within your reach. You’ll need to start thinking about how you want to begin drawing your retirement funds, and what expenses you will incur. At this stage, you can still contribute to your retirement accounts, but you may want to adjust your investments and make sure your assets are protected. If other life events happen during this stage or during retirement be sure you are prepared for those as well.
Our experienced advisors can help you plan for retirement no matter what stage in life you are in. Preparation is key and it’s important to make sure you have the knowledge and tools you need to continue on a stable path in your retirement journey. Contact us today at 1-888-294-0202 for a no-cost, no-obligation appointment with one of our advisors.
RBFCU Investments Group LLC is a wholly-owned subsidiary of RBFCU Services LLC. RBFCU Services LLC is affiliated with Randolph-Brooks Federal Credit Union (RBFCU). Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA / SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CBSI is a registered broker-dealer in all fifty states of the United States of America. FR-1860269.1-0717-0819