First Federal Bank Blog

If you’ve amassed significant savings for your retirement, it’s important to think about what you’ll do with the money. Would you prefer to spend it on yourself, give it away, or hang on to it and leave an inheritance for your children or other loved ones? Your answer will depend on a wide variety of factors, of course, but here are some points to...

If you’ve left your former job for a new employment opportunity, you’re likely leaving behind a substantial balance in your employer-run retirement account. You have multiple options available to you when deciding how to handle those funds, so make sure you consider each one to find the solution that’s best for you:

Once you’ve achieved your goal of retirement, making your well-earned income stretch as much as possible becomes a chief priority. Structuring your retirement around how your retirement income is taxed helps keep your finances free and flowing so you’ll never need to worry about making ends meet.

As a retiree, you have years of work experience behind you and now plenty of time on your hands. If you are looking for a productive (and lucrative) way to fill the hours, you may be considering going back to work or putting off retirement for a while. Although you have officially stopped punching the clock, or are eligible to do so, should you...

Whether you’re decades away from retirement, or closing in on the end of your working years, it’s important to make sure you’re on track to achieve your savings goals. Performing an annual checkup on your retirement accounts is one of the best steps you can take toward peace of mind and preparedness. Here are the key elements of an effective...

If you are on the edge of retirement or a current retiree, you may be familiar with the phrase, the Four Percent Rule. The concept is used to help retirees manage your finances in your golden years.

Before retirement, you probably had the chance to increase your income, such as by earning promotions or changing jobs. But during retirement, it’s more common to live on a fixed monthly income determined by your savings. This can force a different approach to your personal finances and perhaps even to your lifestyle. Follow the tips below to help...

Writing a will may seem simple — just say who should get your property when you die — but there are several less obvious elements to it that are just as important. Though you may not be inclined to think about your mortality, taking the time to prepare a well-written will is key to ensuring the transition is as smooth as possible for your loved...

Saving enough money to enjoy a full retirement may already feel like an uphill climb before you even consider the rising cost of healthcare. As you get older, you can expect your medical expenses to increase, which can put a damper on your plans without proper consideration. By setting aside funds specifically for your healthcare needs, you can...

If money is tight, you may have considered drawing from your 401(k) retirement savings plan. While it’s generally best to leave your investments intact, there are circumstances in which tapping into your account can be a safer move than obtaining other kinds of loans. Here’s a look at a few factors to consider before you commit to borrowing money: