Two big-ticket items that might be looming on the horizon for you and your growing family: your
children's education and your own
retirement plans. The key is to save appropriately, but you may be wondering if you have enough extra to save now for what you'll need later. Here are some smart saving ideas to help you and your family headed toward a bright financial future.
Give your savings a boost
Downsize your spending
Save in the right order
It may seem logical to save for your kid's education first, then your retirement. Most financial experts will tell you that you need to first save money away for your retirement before saving for college. Here's why:
When you can steadily put money toward retirement, then you are ready to start saving for college. At Wright-Patt Credit Union, we can help you with both!
Contact us or visit a convenient
Member Center to find out more about Retirement Solutions, available through CFS*, or to have your college-planning questions answered by our College Access Counselor.
*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.