Whether you are close to retirement age, or just kicking off your dream job, having a solid retirement plan is essential to a financially secure retirement. Let’s check out a few key strategies to get you started.  Invest a Consistent Amount Each Month. With this strategy, you can automatically contribute to your IRA or other retirement accounts with every paycheck (up to the maximum annual contribution).  Plan for Retirement Adjustments. It is important that you plan to adjust your income after retirement. While some of your retirement income will probably be a fixed amount each month, you will also have some retirement accounts that will pay different amounts based on market performance. If possible,…

The moment you walk through the front door, hear the ring. You fumble the smartphone out of your pocket and answer it eagerly, talking to the job interviewer that you just saw an hour ago. They happily give you the good news as you barely hold back the scream of joy. You landed your first job and will start work on Monday. When you go to bed, you start thinking about all the things you want to do with your new salary.  Time to Think About Retirement  Initially, you might spend most of your time imagining the luxurious lifestyle your new income will bring, but you should eventually push those fantasies aside to consider a retirement fund. It doesn’t sound that exciting, especially if you are…

No matter your age, focusing on your financial future is one of the best things you can do. As you are first settling into a career, you may think retirement is far enough away to give you time to come up with a strategy later. But as the years go by, it creeps higher and higher up on your list of priorities.   The best way to plan for retirement is to not let it sneak up on you; start your game plan now, so that you can live comfortably as a retiree. Individual Retirement Accounts (IRAs) are designed to get you there. An IRA is basically a savings account with big tax breaks created specifically to help you put away the…

You’ve taken vows, heard toasts made toward your lasting happiness, and even waltzed (or tripped up) onto the dance floor. Your big day has finally come and gone. You’re married!   Now the real fun begins — updating all your important documents. Doesn’t sound exciting, does it? But it’s a crucial step once you tie the knot. Here’s a list of essential documents you’ll need to update once you enter the “happily ever after” phase of your life.  Driver’s License & Social Security Card   This should be your first stop if you change your name. For social security, it’s not as simple as applying online. Instead, you must:  Obtain a certified copy of your birth certificate, marriage…

With so many investment options out there, one popular option is a certificate account. While banks often refer to these accounts as certificates of deposit or CDs, PEFCU refers to them as share certificates.   What are share certificates?  A share certificate allows you to invest your money for a specified time period (typically ranging from 1 to 5 years) of your choosing. During the term of your investment, you are not allowed to withdraw your money without incurring a penalty.   In exchange for having your money “locked–in” during your term, you’ll usually receive a higher dividend rate versus traditional savings accounts. Furthermore, share certificates offer guaranteed returns without risk since the National Credit Union Administration (NCUA) federally insures all…