Retirement Planning

Financial advisors often recommend “starting early” when it comes to retirement planning. That doesn’t just mean opening a 401K when you are 21; establishing a strong credit history early on pays dividends too, and helps add shine to the Golden Years.

  • Yes! Credit Matters: How Refinancing is Good for Retirement

    In retirement, every penny counts. If you’re a homeowner, the equity in your home can act as an income stream to help you meet monthly obligations, reduce expenses, or even create an instant cash flow. Whether you’re retired or just planning for it, refinancing your home can be a smart financial move. Basically, it allows you to pay off your current mortgage and replace it with a new mortgage that has better terms—which means you pay less and save more.

  • Yes! Credit Matters: When to Consider a Reverse Mortgage

    These days, plenty of people are using Reverse Mortgages to stretch their dollars during retirement. Instead of receiving a lump sum up front, then making loan payments each month, seniors who qualify for a Reverse Mortgage actually receive payments each month. This is a smart solution for seniors living on a fixed income whose homes are close to being paid off. To see if a Reverse Mortgage is right for you, talk to your mortgage lender.

Score Planner

See how different events might impact your Credit Score. The Score Planner is available to both members and non-members.

Types of questions you'll see:

  • icon-credit-card.pngWhat if I pay off that card?
  • icon-apply-car-loan.pngWhat if I apply for a loan?
  • icon-late-payment.pngWhat if I have a late payment?
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Question: Is saving or investing more important?

Answer: In order to retire, you'll need savings, investments, and a good deal of planning. You'll probably want to meet with an experienced Financial Planner to help you determine an appropriate strategy for your retirement. Remember, the sooner you implement your retirement strategy, the better off you’ll be in the long run.

Taking good care of your credit can help you get the things you want. Get started now!

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Making Good Credit Decisions

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How Much Will I Pay to Cash Out a Traditional IRA Early?

Some IRA cash outs are penalty-free. Learn which types qualify for waivers, and which don’t.

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Blunders That Can Ruin Retirement Plans

Incorrect assumptions about how long you’ll be retired and how much money you’ll need can foul up your retirement plans.

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Retiring

Making the Transition from Working to Retirement

With planning, your retirement could be extremely pleasurable. But it’s a different lifestyle than working, which is also true for your credit.

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