Fewer defined benefit pensions, a Social Security system likely to be revamped, and longer life spans all necessitate increased savings. They Have Established Financial planning is especially challenging the older we get. One reason for this challenge is the heavy reliance on fixed incomes. Pensions typically lose purchasing power over time, and Social Security is barely keeping pace with inflation. In addition, many seniors find themselves on a reduced income.
Large differences exist among the elderly population.
On the other hand, older persons, as a group, have more assets and fewer debts than the younger generations. Time to cool down. Remember, your financial needs and tasks will change throughout your life. Your Credit Union wants to be your primary financial institution to assist you with all your needs. We can help you to focus on your current life events.