Saving for your retirement should begin as early as getting your first pay check! We are living longer, healthier lives and will need a bigger retirement fund than our parents or grandparents. That is why for a comfortable retirement we need to plan ahead, save early and spend wisely.
Beginning to plan for retirement can be as simple as contributing to a 401k your company has set up. You can contribute a percentage each paycheck and increase the amount over time. Along with your 401k, you can deposit money into a savings or Individual Retirement Account (IRA)* which will build another source of retirement funds. It is important to keep track of your savings so you know how your funds are spread.
There are many areas of your financial situation affected by your retirement. Track any current or future expenses that may affect you during retirement. This will help you determine how much you are able to put away each month and how much you will need to save for retirement.
No matter where your retirement journey takes you MFed is never far away. You have online banking plus we belong to a network of thousands of credit unions who have joined together to create shared service centers across the country. Check balances, cash checks and make deposits, withdrawals or transfers wherever you go!
MFed Products and Services
*Check with your tax advisor for more information and investment advice