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Saving for Retirement

After years of saving and investing,
you can finally see the big day – retirement!

Before kicking back, you still need to address a few matters. Decisions made now could make the difference between your money outlasting you or vice versa.


Before mapping your retirement financial strategy, it’s important to figure out how much retirement income you may need. You’ll need to consider your housing cost, the length of your retirement, whether you have earned income, your retirement lifestyle, health care and insurance costs, and the rate of inflation. Next, identify all of your potential retirement income sources and review your asset allocation. Remember, it’s important to keep your portfolio working for you – both now and in the future. A consultant at the Investment & Retirement Center at On Tap Credit Union can help you determine how much you should save.


When cracking your nest egg, figure out how much you can afford to draw down your retirement assets each year, and which you should tap first: tax deferred or taxable investments? A consultant the Investment & Retirement Center at On Tap Credit Union can help you determine the strategy that works best for you.


An effective estate plan can help you maximize current income while minimizing taxes for you and your heirs. A will is the most basic form of an estate plan, as it helps ensure that your assets get disbursed according to your wishes. Also, make sure that your beneficiary designations for retirement accounts and life insurance policies are up-to-date. The consultants at the Investment & Retirement Center at On Tap Credit Union can help you with estate planning to better prepare for this new stage of your life.








As a first step in retirement planning, you’ll need
to figure out how much income you may need

Consider the following factors in your planning:
  • Your home
  • The length of your retirement
  • Earned income
  • Your retirement lifestyle
  • Health care costs and insurance
  • Inflation
Next, you’ll need to identify all of your potential income sources, including Social Security, pensions, and personal investments. Don't overlook cash-value life insurance policies, income from trusts, real estate, and the equity in your home. You’ll also want to review your asset allocation – how you divide your portfolio among stocks, bonds, and cash.

Finally, it's time to look at cracking that nest egg you've built up. You need to determine a prudent withdrawal rate and decide when to tap into tax-deferred and taxable investments, taking any tax implications into account.  

It's easy to become overwhelmed by all the financial decisions that you must make at retirement, but you don’t have to go at it alone. A consultant at the Investment & Retirement Center at On Tap Credit Union can help guide you to make sure that you're prepared for this new – and exciting – stage of your life. Contact us today to schedule a free, no obligation consultation.
























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start planning now for your
ideal retirement experience


Tom Valdez
Thomas P. Valdez Jr., Financial Consultant

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to open your account today!



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