3 Ways to Simplify Your Investments

January 06, 2023 by First Federal Bank

Keeping all your investments in order doesn’t need to be overwhelming. Even if you’re balancing a diverse investment portfolio, there are ways to make the process a simpler task. Here are a few ways to streamline your investments and reach your financial goals without constant worry and oversight. “Your financial life should be simple enough that...

Topics: Retirement, Financial Education

Should You and Your Spouse Retire at the Same Time?

November 30, 2022 by First Federal Bank

If you and your spouse are nearing retirement age, it’s important to consider the timing. Should you both retire at the same time, or would it be better to stagger your retirements for financial reasons? If you’re not sure what the best approach would be, here are some points to discuss with your partner so you can make an informed retirement...

Topics: Retirement, Financial Education

How Those Over 50 Can Play "Retirement Catch-Up"

October 12, 2022 by First Federal Bank

If retirement is looming, but you have not built the nest egg you want or need for worry-free golden years, there is no need to fret. There are strategies and tactics you can employ to catch up on your retirement savings goals when you are over the age of 50. Here is a closer look at a few methods that can help make a difference for your bottom...

Topics: Retirement, Financial Education

Should You Rent or Purchase When You Downsize?

September 09, 2022 by First Federal Bank

Downsizing can help retirees save money and energy they might otherwise waste on space they do not need. But in the process of downsizing, they must choose whether to rent or purchase their next home. What are the pros and cons?

Topics: Retirement, Homeowners, Mortgages / Home Equity

How to Save for Retirement Without a 401(k)

July 08, 2022 by First Federal Bank

A 401(k) plan may be ideal when it comes to saving for retirement. Still, it’s possible to meet ambitious retirement goals even without one. If your employer doesn’t offer retirement benefits, these options can help you retire comfortably:

Topics: Retirement, Financial Education

Should Your Spend Your Retirement Savings?

April 15, 2022 by First Federal Bank

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...

Topics: Retirement, Financial Education

Changing Jobs and Your Retirement Accounts

March 18, 2022 by First Federal Bank

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:

Topics: Retirement, Financial Education

Tax Advice for Planning Your Retirement Income

March 09, 2022 by First Federal Bank

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.

Topics: Retirement, Financial Education

Working During Retirement

December 17, 2021 by First Federal Bank

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...

Topics: Retirement

Give Your Retirement Accounts an Annual Checkup

December 08, 2021 by First Federal Bank

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...

Topics: Retirement

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