SAVING FOR THE LONG TERM
Tips on making a plan for retirement, and making the most of your savings for the golden years.
Planning for Retirement? We're Here to Help
Long-term savings focuses on building financial stability and preparing for future goals such as major purchases, retirement, or investments- Define long-term financial goals
- Develop a long-term savings strategy
- Together Investment & Retirement Services: Our team can help you plan for the future with a personalized plan that fits your needs.
- Use structured savings tools
- CDs: Provide a predictable way to grow savings
- Money Market Account: higher rates for larger balances with flexible access
- IRA: Tax advantaged account options to make the most of your savings.
Retirement Planning Tips
- Determine your retirement plans
- Identify a starting point
- Make the most of your money
- Take advantage of helpful resources
You’ve made it to retirement—congratulations!
Now it’s time to shift from saving for the future to making your money work for you today. With a little planning, you can enjoy the retirement you’ve earned while keeping your finances strong.
First things first
With all the changes that come with retirement, it’s a good time for a fresh look at what’s coming in and what’s going out. Your income might now include Social Security, retirement account withdrawals, a pension, or part-time work. Balancing that with your monthly spending—housing, healthcare, travel, even spoiling the grandkids—helps you stay in control and avoid surprises.
Next, make a plan for how you will draw from your savings. Which accounts you tap into first (and how much you withdraw) can impact your taxes and how long your money lasts. A steady, well-paced plan keeps your funds healthy for the long haul. Your financial advisor can help you tailor your personal strategy.
Stay connected
Don’t forget, retirement doesn’t mean you stop planning. Review your budget regularly, watch for changes in expenses (or your priorities), and stay flexible. Life happens—and having a cushion gives you peace of mind when it does.
Tools and Resources
Together Retirement & Investment Services
Individual Retirement Accounts
Retirement Calculators
Financial Wellness Resources
Have you thought about your future? TogetherCU members have access to TIRS to assist with your personal financial needs and aspirations.
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Saving for retirement early in your career can be beneficial down the road.
When you have a plan for your money, you're more likely to turn your dreams into reality.