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Financial Planning with the Credit Union through CSI
Financial.
Email bhfs@usuccu.org
- In addition to financial planning, your Credit
Union offers services for 50+ such as Reverse Mortgages and Free
Checking with free checks.
- Services of interest to 50+ for children and
grandchildren include Moolah
Savings for age 13 and under, SmartMoney
for high school ages 14 to 18, and College
Students.
Use convenient automated financial services through your Credit
Union:
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We all have dreams to live the good life. Your Credit Union is now
doing more to make sure the good life isn't just a dream. Your Credit
Union is partnering with the USU Extension to provide a new community
education series entitled,
The Good Life: Planning Your Retirement Future.
The Good Life education series will feature subject experts each month on a host of important retirement planning issues. Classes and materials are provided at no cost to participants.
To register, contact: Adrie Roberts, at USU Extension (435) 752-6263.
Workshop Schedule
Time: 7 to 8:30pm
Location: Cache County Admin. Bldg.
179 North Main, Suite 111, Logan, Utah
| Date |
Subject |
| Sep 27 |
Cutting Household Expenses to Save more for Retirement |
| Oct 24 |
Investing in Real Estate |
| Nov 29 |
Setting Financial Goals |
| Jan 31 |
Record Retention |
| Feb 28 |
Organizing Financial Paperwork |
| Mar 28 |
Tax Strategies for Retirement |
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Read More to Prepare for Retirement
For other articles for the Fifty Plus, go to the Home
& Family Finance Newsletter and enter Seniors or
Retirement in the search window or choose Retirement
from the menu.
Chapter 1: What's Your Retirement Future?
What Future Do You Want?
Rick Bardine, a Certified Financial Planner with The New England
who teaches in the financial planning program at Boston University,
notes: "The beginning point of any effective retirement plan
is to think about your general objectives, such as 'I'd like to
be financially independent by age 55' or 'I want to walk away from
my job at age 60.'"
Questions to Ask Yourself
Do you have a picture of how you want to live in retirement and
a plan to achieve that picture?
Does the plan balance today's needs with tomorrow's expectations?
Or is there a spend-now, worry-later approach?
Are you focussing so much on living at a level that's barely attainable
now that there's no time or money to deal with the prospect of tomorrow?
Translate Dreams Into Specific Goals
The more vividly you can depict what kind of life you'd like to
be leading, the more specific your money goals can be. You can also
see at a glance if these goals are at all realistic. If you're in
the pool of people with few or no retirement savings and the goals
you've visualized include luxury housing, fine cars and globe-trotting
cruises, you'll either need to modify your goals or supercharge
your savings.
How will you get from fantasy to reality? From these general objectives
or scenarios, you need to begin to develop goals you can quantify,
such as:
"I want to have $5,000 a month on an inflation-adjusted basis
for the rest of my life."
"I want to pay off my mortgage and use the money for investments
that will supplement my pension plan."
Track Your Progress Toward Your Goals
Devise a method of tracking your progress. Do what works for you:
Use a computer program, a personal assets journal, or a three-ring
notebook. The medium is not as important as the process of writing
down your goals and recording the progress you've made in reaching
them.
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