Preparing for Retirement

Preparing for Retirement: How to Make the Most of Telco’s Services

Planning for a secure and fulfilling retirement involves more than saving money; it’s about making informed decisions that support long-term financial health. At Telco Community Credit Union, we understand that a strong retirement plan requires personalized guidance, dedicated resources, and access to trusted financial tools. Here’s how Telco’s services can help you navigate your journey toward retirement readiness.

1. Investment Services for Strategic Planning

One of the best things you can do for your retirement is to invest thoughtfully. With Telco’s investment services, members can work directly with our experienced advisory representative, Ryan Moran, through our partnership with Cambridge Investment Research, Inc. Whether you’re seeking steady growth, prefer low-risk options, or want to balance the two, we’ll help you set a path that aligns with your retirement timeline and risk tolerance*¹.

2. GreenPath Financial Wellness for Financial Literacy and Counseling

As a Telco member, you have free access to GreenPath’s certified NFCC and HUD counselors who offer, personalized financial counseling.  They can help you with budgeting, debt reduction, and strategies for financial success—all of which play a critical role in building a solid retirement fund. GreenPath also offers insightful webinars and workshops to ensure you’re equipped with the latest financial strategies to achieve your goals.

3. Individual Retirement Accounts (IRAs): Your Key to Tax-Advantaged Savings

Telco offers a range of Individual Retirement Accounts (IRAs) tailored to fit different needs and preferences, so you can maximize savings with built-in tax benefits.

• Roth IRA: Ideal if you want tax-free withdrawals in retirement, after age 59 ½. With Roth IRAs, contributions can be withdrawn without penalties at any time, and after five years, you can even withdraw earnings tax-free in certain circumstances, like buying a first home.
• Traditional IRA: Contributions may be tax-deductible, and funds grow tax-deferred until you make withdrawals, making this a popular choice for those seeking immediate tax advantages.
• Rollover IRA: Changing jobs or retiring? Rollover IRAs let you transfer funds from an employer-sponsored plan, like a 401(k), without penalty, giving you full control of your retirement savings. This option can simplify things, especially during transitions, and keep your retirement funds on track.

To help streamline your contributions, a Telco IRA Share Account makes regular contributions easy by allowing payroll direct deposits and automatic monthly transfers. This flexibility ensures you can meet annual deposit goals with minimal hassle.

4. Ongoing Member Support: A Foundation for Success

Telco members have access to personalized financial guidance that doesn’t stop after opening an account or choosing a retirement product. At Telco, you’re a part of a supportive community dedicated to helping you achieve financial freedom and a fulfilling retirement. That’s why we’re committed to providing ongoing support and educational resources that help you make informed decisions every step of the way. Our ongoing commitment to education, guidance, and personalized service means that we’ll be with you through every stage of planning, preparation, and beyond.

Let's Get Started Together!

Retirement planning can be complex, but you don’t have to navigate it alone, Telco Community Credit Union is here to ensure you have the tools, resources, and expert support to make this journey a successful one. Through our wide variety of retirement planning services, we are honored to support our members’ goals and help build a secure financial future.

If you’re ready to begin planning for retirement or want to discuss which options are best for you, reach out to Telco today! Your future self will thank you for taking the time to build a solid financial foundation now.

Disclaimer: This article is intended for informational purposes only. Please consult a financial advisor or tax professional for specific guidance.

*¹ Check the background of your financial professional on FINRA's BrokerCheck.

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Telco Community Credit Union and Cambridge are not affiliated.  Non-deposit investment products are not NCUA insured, not credit union guaranteed, and may lose value.