The list of excuses for why it’s impossible to save for retirement is endless. Some people may be just getting started in their careers, making small starting salaries. Others may be stay-at-home parents with no earned income. Everyone is juggling a plethora of different financial goals, of which retirement is just one. And those who

Have dreams about retiring early? We have some tips on how to make that dream a reality. According to the Michigan Association of CPAs, retiring early takes meticulous planning and more than a tidy sum of money, but for the truly committed, early retirement is possible. Here is what you need to do if you

Have you ever sat down and figured out how much you’d need for a comfortable retirement? If not, don’t worry – you’re not alone! According to the U.S. Department of Labor (USDOL), fewer than half of all Americans have calculated how much they will need to save for retirement.  While it’s important to plan, it’s also

Shopping at your credit union for a CD (certificate of deposit) isn’t quite as easy as going to the local music store for a CD (compact disc). But it’s a lot easier to choose than some other types of investments. By definition, a CD or certificate of deposit is a time deposit. That means you

1. Start saving, keep saving, and stick to your goals If you are already saving, whether for retirement or another goal, keep going! You know that saving is a rewarding habit. If you’re not saving, it’s time to get started. Start small if you have to and try to increase the amount you save each

Make one or two mistakes in handling your retirement money and you could be paying a stiff penalty later in your life. With the stock market on such unsteady legs, it pays to stay clear of these common mistakes: You pay attention to the market losses instead of your long-term needs. Catastrophic events and long-term

Many people have set goals for their retirement. Others don’t even want to think about it. It is important to consider what sources of income and savings will be available when planning for retirement. Building a money reserve is one of the most important aspects of this planning process. Experts advise people to start as

Planning for retirement can seem like an overwhelming task. There are so many options to choose from, and the goal can seem very unclear, especially if you have many years of work ahead of you. In this economic climate, hoping for a simple pension plan from an employer is not the realistic retirement plan it

Regardless of age, planning for retirement is an important component of any long-term financial strategy. Through the benefits of modern medicine, people are commonly living well into their 80s and beyond. Coupled with the continuing uncertainty surrounding social security benefits, careful planning is vital to ensure adequate financial resources are available throughout retirement. At its

With the long-term solvency of social security still in question, it is becoming increasingly important to plan for self-sufficiency in retirement. Regardless of age, IRA’s are a valuable tool provided to enhance retirement savings.  IRA and 401k Rollover services are available through Wayne Westland Federal Credit Union. IRA’s present substantial tax benefits compared to regular