Embrace financial freedom in your empty nest era
As your kids grow up and start their next chapter, you may find yourself wondering "What comes next for me?" Change can feel uncertain, but it also presents new opportunities, like more freedom to focus on your financial goals.
Now is the perfect time to evaluate your plans and make sure you're on track for the future you deserve. Whether you're planning to invest more in your retirement savings, travel or pick up long-lost hobbies, here are some tips to help you stay financially secure for the road ahead.
Now is the perfect time to evaluate your plans and make sure you're on track for the future you deserve. Whether you're planning to invest more in your retirement savings, travel or pick up long-lost hobbies, here are some tips to help you stay financially secure for the road ahead.
- Assess your budget - Life-changes are a great reason to revisit your budget. Review your monthly expenses and look for areas you can cut back or reallocate funds to what matters most, like boosting your Individual Retirement Accounts (IRAs) or 401(k). You can also consider moving funds into your High-Yield Savings Account1 to help grow your savings easily.
- Pay down debt - Paying down debt, especially high-interest debt, will help you save in the long run. You can save smarter by consolidating your high-interest debts into one simple payment with our Personal Loans2. Our Personal Loans offer a fixed rate for predictable payments, so that you can simplify your budget.
- Invest in yourself - With the kids moving out and fewer day-to-day responsibilities, you may have more room to invest in your retirement savings. This is the perfect time to maximize your contributions and make the most of your remaining working years. Not sure if you're saving enough? Connect with our Investments Team here, they are happy to help you optimize your retirement funds.
- Estate planning - As your kids get older, it's important that you keep your estate documents up to date. Go over your will, power of attorney or healthcare directives to ensure they reflect your wishes and help to minimize taxes.
Transitioning into this new stage of life comes with both opportunities and adjustments, but you're not alone. At Abound, we're here to support your financial wellness every step of the way.
Interested in our Personal Loans or a High-Yield Savings Account? Visit your local branch today!
Interested in our Personal Loans or a High-Yield Savings Account? Visit your local branch today!
1Dividend rates are variable and may be changed or discontinued at any time. Current rates can be found at AboundCU.com/deposit-rates. A blended annual percentage yield (APY) is calculated based on balances in each earning tier, and the exact APY will depend on the balance in the account. Dividends paid and compounded monthly. Limit of one High Yield Savings Account per primary member’s Social Security Number. Available to both business and consumer members. Subject to $10 Membership fee if not already a Member
2All loans are subject to credit approval.
2All loans are subject to credit approval.
