Here are a few steps to take when retirement planning in a changing world:
Stay calmIn times of change, it's natural to feel uncertain about taking risks. However, short-term worry doesn't have to derail your long-term plan for retirement. If you can, continuing to contribute to your 401(k) or IRA can help you stay on track with your goals. If you need to pause your contributions for a while, consider saving what you can in a high-yield savings account or Money Market account. This way, you'll have funds set aside when you feel comfortable investing again.
Stay calm
In times of change, it's natural to feel uncertain about taking risks. However, short-term worry doesn't have to derail your long-term plan for retirement. If you can, continuing to contribute to your 401(k) or IRA can help you stay on track with your goals. If you need to pause your contributions for a while, consider saving what you can in a high-yield savings account or Money Market account. This way, you'll have funds set aside when you feel comfortable investing again.
Stretch your retirement savingsIf you're nearing retirement and worried about meeting your expenses, you may need to adjust your spending and saving habits.Here are a few ways to stretch your retirement dollars if you're facing a shortfall:
Stretch your retirement savings
If you're nearing retirement and worried about meeting your expenses, you may need to adjust your spending and saving habits.
Here are a few ways to stretch your retirement dollars if you're facing a shortfall:
It's important to reevaluate your retirement preparedness on an ongoing basis. Using a retirement calculator can help you get an idea of how well you've prepared and what you can do today to improve your outlook tomorrow. Talk to a professionalPlanning for retirement can feel overwhelming, especially in unpredictable times. If you have questions, Wright-Patt Credit Union (WPCU) is here to help!
It's important to reevaluate your retirement preparedness on an ongoing basis. Using a retirement calculator can help you get an idea of how well you've prepared and what you can do today to improve your outlook tomorrow.
Talk to a professional
Planning for retirement can feel overwhelming, especially in unpredictable times. If you have questions, Wright-Patt Credit Union (WPCU) is here to help!
The experienced CFS* Financial Advisors on WPCU's Retirement Solutions team, available through CUSO Financial Services, L.P. (“CFS"), will discuss your retirement goals with you and help you create a personalized plan for a happy retirement. Contact us today to set up a complimentary, no-obligation appointment.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. WPCU has contracted with CFS to make non-deposit investment products and services available to credit union members. For specific tax advice please consult a qualified tax professional.
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