First Federal Bank Blog

Did you know your mental health can deteriorate through the years? Socially isolated seniors have a 59% greater risk of mental and physical decline (Forbes). The health effects of social isolation and loneliness on seniors is equivalent to smoking 15 cigarettes per day (AARP.org). Depression in the elderly is associated with increased risk of...

When planning for retirement, one key expense you may not fully account for is health care. The simple fact is that as we age, our medical needs tend to increase. Which means do does the cost of our care. Even if you live a long and healthy life with no major illness or issues, you will occasionally need to visit a doctor. How can you plan...

Whether you will be retiring in 2025, or years from now, a little planning goes a long way toward setting you up for success in your golden years. One key is understanding your Social Security benefits. When you can receive them, and how much you should expect, will change as the program is adjusted. The first thing you want to know is when you...

If you will be entering the new year as a retired person, or plan to enter that new phase of your life in 2025, there are some things you should think about now to ensure you get off to the best possible start. Kipingler.com has some important tips to help you plan to get the most from your retirement in the coming year and beyond:

The closer you come to your retirement years, the more you want the assurance that you have planned appropriately. Will you have enough set aside when the time comes? What are the best ways to build your retirement savings? The answer depends on a number of factors, including how close you are to retirement, and what your personal goals are. ...

Financial experts generally agree it is best not to touch your 401(k) until you are in your retirement years. But there can be times when it is tempting to dip in to those savings to address financial issues you face in the present. The decision should be carefully considered, and it is critical you understand the ramifications. That said, there...

Many of us spend years planning for our retirement. And chances are while making the look ahead, you don’t factor other major life changes like marriage and divorce into the equation. But the fact is the rate of divorce after 50 has doubled since 1990. So while you may not plan for it, you should understand how such a life change can impact your ...

The economy is top of mind for most Americans today. But if you are nearing or already in retirement, you may have extra concerns about running out of money. Have you saved enough? Are you spending more than you expected to? TheWeek.com has compiled some tips to help you keep your retirement secure:

If you are in your retirement years and rely on Social Security payments, waiting to learn what the cost of living adjustment (COLA) will be each year can be anxiety inducing. It’s complicated, and difficult to plan when the amount of your payments can change. Yahoo Finance offers some projections for 2025, as well as guidance on what you can do...

When we think about investing, the focus is normally on saving money for retirement. Many consider it to be too risky once you have reached that milestone, and instead plan to hold on to their money and draw from their accounts as needed. Rob Berger of Forbes magazine explains why it is important, and beneficial, to continue investing after you...