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Preretiree

Advice for mature adults to transform their financial habits and prepare for the future.

Between the ages of 50 and 60, retirement becomes a more realistic part of your future.  This can be daunting for some adults as they want to be sure they have all of their assets aligned to allow for retirement in a timely and comfortable fashion.

Calculate how much you will need to save.

HHSB can assist you in your pre-retirement planning to re-evaluate allocation of assets, increase your current Individual Retirement Account contributions or set up an annuity. Schedule an appointment with one of our loan officers or our financial professional to discuss possible adjustments to your portfolio.  Here are other ways pre-retirees can enrich their financial development at HHSB:


 

Take advantage of our more advanced checking and savings account options.
Save time by using convenient paperless options.
Take advantage of the services you are offered as a customer here at HHSB.

We are excited to be able to offer relevant, helpful products to streamline decision making when planning to fund your retirement.  Services available through our financial professional include:

  • Retirement Income Planning
  • Portfolio risk assessment
  • Life Insurance Planning
  • Indiana-Long Term Care Insurance

Make an appointment with our financial professional today to discuss the many other unique ideas and tools to save for retirement.


TIPS FOR EFFECTIVE FINANCIAL MANAGEMENT:

  • Use a retirement calculator annually.  This will give you an idea of whether you are on track with saving for your retirement.
  • Re-evaluate contributions to Individual Retirement Accounts (IRA’S) and other retirement plans.  After age 50 you may be qualified to make “catch up” contributions to boost your plans.  Consult our financial professional for more details.
  • If you plan to retire before age 65, be sure you have health insurance coverage to fill the gap until you qualify for Medicare.
  • Obtain a copy of your annual estimate of Social Security income at retirement age from the Social Security Administration.  This is available online at www.ssa.com.
  • Establish an estate plan and/or trust fund.  This can help plan for the special needs of your children, aging parents, responsibilities of higher education, and more.
  • Make a list of your financial priorities and begin checking things off to fast track the increase of your funds for retirement.

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