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Chart Your Course - Is Your Financial Plan on Target?

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Financial Planning is an important activity focused on determining your needs and setting practical goals such as funding retirement, sending a child to college, or perhaps the purchase of a home. A financial professional can help you develop short-term and long-term goals designed to aid you in accomplishing these financial objectives. But is there value in paying for investment guidance?

The value of guidance and advice provided by a licensed and trained financial professional is hard to quantify. For some, the convenience of letting someone else handle the complexities of investing is invaluable. For others, professional advice and guidance can help provide a sense of financial security.

Prudent investing is based on the patient, disciplined application of a plan. In addition to helping you develop the plan, an experienced financial professional has an understanding of how markets have historically performed, the value of compounding, and the implications and consequences of taxes. Milestones in life often require the assistance of a professional, just as an illness might require a doctor’s advice and care.

Together, you and your financial professional can navigate the increasingly complex world of investing and financial planning.

The Price of Procrastination

Even a small delay in implementing your financial plan can have monumental results. For example, a 35 year old man has $10,000 to invest in an IRA. If he made no further contributions and the account grew at a hypothetical 7% return for 30 years – until he retired at age 65 – it would be worth $81,160. That’s because compound and tax-deferred interest have enough time to work their magic. But just waiting 10 years to invest that same $10,000 can be costly. Assuming the same IRA at the same 7% return, the money grows for only 20 years and will be worth $40,380. Let’s look at it from another angle – investing on a monthly basis. Let’s assume you want to retire at age 65 with a nest egg of 250,000. Assuming a hypothetical 7% return, how much would you have to put aside each month to reach your goal?

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The above illustration assumes an 7% hypothetical rate of return in a taxdeferred account during selected time periods. Such a rate of return for every time period is very unlikely. Rates of return will vary over time. This example is not intended as an indication of the actual performance of any fund or investment.

Developing and implementing a financial plan now could dramatically increase your chances of attaining your financial goals later on.

As you see, it’s important to understand the many variables of investing and financial planning, and deciding on a course of action can seem overwhelming. The value added guidance provided by a qualified financial professional is incalculable. Taking that first step to partner with someone who can help you with those decisions should provide you with an increased comfort level and the knowledge that, together, you’re both working toward the same goal – your financial independence. Let’s start targeting your strategy today!

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FFCU and CUE are different organizations. FFCU has contracted with CUE Financial to make non-deposit investment products and services available to credit union members. CUE is a branch office of and securities offered through Securities America, Inc., Member FINRA & SIPC. Advisory Services Offered Through CUE Financial Group, Inc., a SEC Registered Investment Advisor. Insurance Products are offered through CUE Financial Group, Inc., a General Insurance Agency. CUE Financial Group, Inc., First Financial Credit Union and the Securities America companies are unaffiliated. Securities America and its representatives do not provide tax and legal advice; therefore it is important to coordinate with your tax and legal advisor regarding your specific situation.
Not a Deposit. Not NCUA Insured. Products are not guarantees or obligations of the credit union. May Lose Value and may involve investment risk, including possible loss of principal. Not Insured by a Government Agency.

The Roth 401(k)

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If you’re lucky enough to work for an employer who offers this option, Roth contributions could play an important role in helping enhance your retirement income.

Retirement Rollovers

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In general, a rollover is the movement of funds from one retirement savings vehicle to another. There are two possible ways that retirement funds can be rolled over—the 60-day rollover and the trustee-to-trustee transfer.

All About IRAs

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An individual retirement arrangement (IRA) is a personal retirement savings plan that offers specific tax benefits. In fact, IRAs are one of the most powerful retirement savings tools available to you.

Reaching Retirement? What Now?

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You’ve worked hard your whole life anticipating the day you could finally retire. Well, that day has arrived! But with it comes the realization that you’ll need to carefully manage your assets so that your retirement savings will last.

Investment Planning: The Basics

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The fact is, there’s nothing complicated about common investing techniques, and it usually doesn’t take much time to understand the basics. One of the biggest risks you face is not educating yourself about which investments may be able to help you pursue your financial goals and how to approach the investing process.

Retirement Planning

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Setting goals for retirement is an important part of retirement investing. For example, do you want to retire early? Would you like to travel during retirement? Do you plan on working post-retirement?

Five Keys to Investing For Retirement

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Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you have some investing experience or are just getting started.