Life starts after 60. Will you be ready?
Here are some sobering statistics: Less than half of Americans have planned for retirement. Americans are living longer: those who reach 65 can expect to live into their early 80’s. After you retire, experts say that you’ll need at least 70% of your pre-retirement annual income to keep your current lifestyle.
You can’t depend on Social Security and pensions to be enough. That’s why you need to build your personal savings. We offer traditional savings accounts, Certificates of Deposit (CDs), Individual Retirement Accounts (IRAs), and tiered Money Markets—all designed to build your wealth.
Our Goal Saver account gets you started earning a higher interest rate with just a $250 minimum balance. Having trouble setting aside money to start a Certificate of Deposit? Consider our First Step CD! With a $250 minimum deposit, you’ll earn a higher interest rate as you continually add more funds until you reach $1,000. You can even set up a payroll deduction to build your savings with every paycheck. Then you’ll be ready to open up a CD.
When should you start contributing to an IRA? The more you contribute now the more you’ll earn before you retire. Plus, your IRA grows tax-deferred. We offer Traditional and Roth IRA’s as well as the Coverdell Educational Account. If you have multiple IRA’s, it’s a good idea to consolidate your funds as your retirement nears. That way you’ll be able to perform all of your IRA transactions in one place.
With a Tiered Money Market account, you’ll earn a competitive return while keeping access to your money. Starting at the $2,000 minimum balance, you’ll earn a higher interest rate with each tier. Unlike money market mutual funds, these accounts are federally insured by the National Credit Union Administration.
Make sure you're ready to enjoy your retirement! To find out more about your saving options, call one of our Financial Service Representatives at 815-729-3211.