Allegent Investment & Retirement Services Program
Is Your Retirement Plan on Track?
A Message from the Allegent Investment & Retirement Services Program
The Allegent Investment & Retirement Program is offered through CUNA Brokerage Services, Inc.®*, a broker/dealer focused on serving credit union members. CUNA Brokerage Services, Inc. is an affiliate of CUNA Mutual Group. For more information about CUNA Brokerage Services Inc., please visit cunabrokerage.com.
Do you know how much you can expect from social security in retirement or from any pension plan you have? Or how much you need to save to make up the shortfall in your desired retirement income?
Are you up-to-date on all the tax-favored* retirement savings options? Are your retirement investments adequately diversified?
Whether your retirement is far off or just around the corner, now’s the time to get answers to all these questions and to put your retirement plan on track. Here’s how to get started:
Estimate your retirement income expenses. The standard advice used to be that for each year in retirement you’d need about 70% to 80% of your pre-retirement income. But with longer life expectancy and more active retirement lifestyles, this traditional formula may leave you short. So take the time to make a more accurate estimate.
Make the most of your employer-sponsored retirement plan. If you have access to a tax-favored employer-sponsored retirement plan, such as a 401(k), a 403(b) plan, or a 457 governmental plan, make every effort to contribute the maximum allowed.
With these plans you don’t have to pay income taxes on the amount you contribute until you make withdrawals, and your earnings grow on a tax-deferred basis.
Contribute to an IRA. Boost your retirement savings by starting an IRA or adding to your existing one. With a Roth IRA, if you’re eligible to contribute and if you meet the specified withdrawal conditions, you can withdraw your earnings free from federal income tax. With a traditional IRA, you don’t have to pay income taxes on your earnings until withdrawal, and if you’re eligible, you can make tax-deductible contributions.
Invest Wisely. Evaluate your current investment mix and set your target asset allocation plan. Dividing your money among the different types of assets is a time-tested way to help reduce risk, as well as a way to smooth out your portfolio’s ups and downs.
There are many important financial decisions that must be made throughout someone’s life. Allegent Investment and Retirement Services, located at Allegent Community Federal Credit Union, is available to help members with all their financial needs. Whether it’s a newly married young couple, parents planning for a child’s education, a worker planning for retirement or someone facing an unexpected job change, Financial Professional, Costas Grekis, can help you reach your financial goals. Check the background of this investment professional on FINRA’s BrokerCheck.
*Allegent Investment & Retirement Services Professionals are registered representatives of CUNA Brokerage Services, Inc. Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc. is a registered broker/dealer in all fifty States of the United States of America.
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