MoneyWisdom Blog

The Retirement Checklist for All Ages

Posted by Maria Porto on Feb 5, 2019 7:30:00 AM

I have a free — no strings attached — offer today that will help you and your employees with retirement planning. It is a printable Retirement Planning Checklist with reminders for every age.

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Topics: Retirement

Budgeting for Retirement

Posted by Maria Porto on Feb 4, 2019 9:54:00 AM


Because no one truly knows how much money they will need for retirement, saving and planning for it can be daunting. Our Lunch and Learn program on Understanding Social Security Benefits is one of our most popular, and we get many questions about what retirement might look like financially.

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Topics: Retirement

Save for Retirement While Paying for College

Posted by Hanscom Federal Credit Union on Jan 28, 2019 3:48:00 PM


Student loan debt is the enemy of many millennials, but it’s becoming a problem for some older Americans, too. According to the Consumer Financial Protection Bureau, recent data shows that between 2012 and 2017 in more than three-quarters of states, the total outstanding student debt held by borrowers over age 60 increased by more than 50 percentFor many of these borrowers, this student loan debt is money borrowed for their children’s or grandchildren’s educations.

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Topics: Retirement, College

Getting Divorced? Don’t Overlook Retirement Benefits

Posted by Hanscom Federal Credit Union on Dec 20, 2018 12:10:00 PM


The issues that couples deal with in a divorce are often emotionally charged. While couples argue about the immediate issues – the house, child support, debts, etc. – they may overlook or underestimate the importance of retirement benefits. It’s important to know your rights to retirement benefits because these benefits are not automatically split in a divorce.

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Topics: Divorce, Retirement

Use Your Home's Equity to Cushion Your Retirement

Posted by MoneyWisdom Newsletter on Nov 2, 2018 2:32:19 PM

 

Use your home's equity to cushion your retirement

If you’re looking for a way to fill in gaps in your retirement income, the solution may be under your own roof. Hanscom Federal Credit Union is now offering FHA-insured Home Equity Conversion Mortgages (HECMs) to members age 62 and older.

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Topics: Home Equity, Retirement

How to Increase Participation in Employer Retirement Plans

Posted by Maria Porto on Oct 31, 2018 6:03:00 AM

I talk to a lot of small business owners and HR professionals who want to increase participation in their employer retirement plans. They invest a lot of resources into retirement benefits for employees, yet many are frustrated by low participation rates. 

In an effort to get employees interested in retirement plans, some employers try innovative techniques. For example, the office-supply company Staples created a vampire-themed game to make planning for retirement and money management more appealing to its busy associates.

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Topics: Retirement, Business, Financial Wellness

Are Americans Prepared for Retirement?

Posted by Trish Reske on Nov 14, 2017 10:09:23 AM

The answer is scary. According to the recent studies, 1 in 3 American non-retirees have no retirement savings or pension at all. And, 38% of respondents say that they have no plans to retire, or will delay it as long as possible, as a means of coping without retirement savings. 

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Topics: Retirement, Savings, budget

Want Peace of Mind? Pay Yourself First

Posted by MoneyWisdom Newsletter on Oct 18, 2017 2:38:43 PM

If you’d like to build your savings but lack the money, time, or discipline to make deposits, you’re not alone. But now is the perfect time to get in the habit of saving, and we have an ideal way for you to save automatically with each paycheck.

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Topics: Savings, Money Management, Retirement

Top 4 Myths About Target Date Funds

Posted by Hanscom Federal Credit Union on Jul 12, 2017 10:51:09 AM

When it comes to choosing investments in a retirement plan, picking one that seems the most hands-off may be enticing. For many, that means investing their money in a target date fund, a combination of stocks, bonds, and cash that becomes more conservative as the target date nears.

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Topics: Investment, Retirement, Savings

The 411 on 401(k)s

Posted by Hanscom Federal Credit Union on Apr 7, 2017 7:00:00 AM

As pension-style retirement plans have fallen by the wayside, the 401(k) plan has become the go-to option for many companies looking to help employees save for retirement. The 401(k) enables workers to set money aside, and not pay taxes on it or its earnings, until they retire and begin withdrawing funds from the account. Here are some key things you need to know about these tax-advantaged accounts.

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Topics: Retirement

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