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Oh, to think of the time when you can sleep in everyday! No more commute! No more worrying about how you'll get it all done! Unless, of course, you'll wonder about how to fit in travel, fishing, golfing, reading, gardening and spending time with friends and family!
Certainly, most of these pleasurable activities require money. Some people rely on the funds Social Security can provide; but it's usually not enough to sustain even moderate living means, let alone all of the activities you have planned. It's up to you what you expect out of retirement and to save for it accordingly - Shell New Orleans FCU has virtually EVERY option available to help you do just that.
If retirement is still far down the road for you, now is the time to determine how much you'll need. For a more complete view of what money you'll have and what you'll need, our "Five Steps To Saving For Retirement" guide will help walk you through planning on your own.
Or, if you'd like some help in planning, whether you're retiring tomorrow
or 40 years from now, a Members Financial Network representative can
help you organize, plan and build your strategy for retirement. He
will meet with you to collect and analyze your information and then
develop a customized financial plan at no cost or obligation.
If you're at a point in life where you may need to make a change - Leaving a job, changing jobs or retiring, consolidating your retirement investments into a rollover IRA may be the right move. You have many choices for a rollover with different outcomes for each, so speaking with our financial advisor can be helpful for you to know what's right for you and your situation in advance of making the change, before its too late.
As you get closer to and finally retire, you need to ensure that your investments are properly diversified to make sure the money lasts as long as needed. One effective way to diversify is to move your money into mutual funds. This more liquid type of investment still assures you of a competitive return, but with no early withdrawal fees, and by spreading your investments among fund classes, you can better stabilize your return whether the market is moving up or down. To learn more about mutual funds, read our article on "What Mutual Funds Can Do For You".
For many, families are important and are part of their retirement goals - trips together, a cabin in the woods, and peace of mind for day-to-day expenses. If your retirement savings is key for your loved ones to enjoy living in later years, life insurance is crucial. It will never replace you, but it helps you rest easy knowing there's less for them to worry about financially if something were to happen to you.
Some companies do not offer life insurance for retiring employees.
Others may not offer enough coverage for you or your family. See what
choices your have for whole, term and variable life insurance plans,
and get a quote today using one of the insurance options right for
you through our Member Financial Network.
Are you starting to think about when you can retire from the working world - two years from now? Five years? Our "Can You Afford To Retire?" guide can help you sort out the details and make a decision that's right for you.
If you're looking to withdraw money from your IRA to live on when you retire, you'll want to know the latest tax rules to be sure you don't make any mistakes that will have negative tax consequences. Knowing what to expect when you withdraw from your IRA will help you make an informed decision about what and what not to do.
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