Ask the Advisor: Should I Contribute to an IRA?

by Andy Han

Since 2005, Andy has been assisting Credit Union Members with their financial services. He’s passionate about educating Members and stresses that it’s critical they are comfortable with their personalized financial plan and understand how it works.

Many Americans are lucky enough to have a retirement savings plan through their employment. But if you don’t have that option, an Individual Retirement Account – or IRA – allows anyone with earned income to save for retirement. And if you’re self-employed, you can use an IRA to create your own retirement plan. In addition, there are special rules that may allow a stay-at-home spouse to contribute to one as well. Continue reading

Ask the Advisor: Rules of Thumb to Save for Your Future

By Aaron Handfield

About the Advisor

Aaron Handfield has more than 14 years of insurance and financial planning experience, including four years of financial planning at JP Morgan and Edward Jones Investments. He is a registered and licensed investment and retirement planning professional and is registered to sell securities. He also holds a California Life/Health Insurance License.

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Ask the Advisor: Which Takes Priority, Retirement or College?

By Jason Persinger

Since 2012, Jason has enjoyed sharing the SchoolsFirst FCU difference, offering objective and caring advice, tailored financial plans and a highly competitive fee structure for investment products. Jason holds the designations of CFP®, ChFC® and CLU®, and is registered to sell securities and holds a California Life/Health Insurance License.

Portrait Of Family Sitting On Steps Outside Home

Like most people, you probably have many financial goals you’d like to accomplish. If you have children, helping them pay for college may top the list. Continue reading

Tapping Your Retirement to Buy a Home

If you’re planning to buy a home, you may be worried if you’ll have enough money saved for a down payment. You’ve probably heard that you can use retirement funds to help, but it’s important to know the restrictions, or you could be stuck paying penalties and taxes. And even though a home can be a great investment, taking out retirement funds early could hurt your long-term security.

Here’s what you should know before you make any financial moves.

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It’s a Money Thing: Boost Your Retirement Savings

Think back to your most recent savings goal. How long did you have to save in order to reach it? Was it a concert ticket or some new shoes that took a few weeks of budgeting? Was it a big-ticket item like a new computer or a summer vacation that took a year or two of planning in advance? Perhaps you’re currently saving for an even more ambitious goal: a car, a wedding, a down payment on a home? Although savings goals vary from person to person and range in size and scope, it’s likely that your longest-term savings goal will be your retirement.

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SavvyMoney Minute: Hope is Not an Investment Strategy

It’s nice to think of the glass half full, but not necessarily when it comes to money. When you’re overly optimistic, it’s easy to convince yourself it will all be okay. But complacency leaves to inaction, and your financial future depends on you taking the right steps, right now. Here are three steps you can take.

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