Start Saving for Retirement: St Anne Credit Union New Bedford

When should you start saving for retirement? It’s different for everyone. Ideally, you should start saving as soon as possible, in your 20s if you can manage it. It all depends on when you want to retire and what you want to be able to do in your retirement. Different career paths provide different solutions that can help you to afford retirement. Some jobs offer pensions or retirement savings programs, while others don’t provide much in the way of savings opportunities. In this type of situation, it is up to you to make sure that you put money away to invest in your retirement, so you won’t have to work all the way through your golden years.

Take advantage of your account at St Anne Credit Union in New Bedford. In addition to providing members with local options for New Bedford credit savings on interest rates and retirement IRA Share Savings accounts, there are also other ways to start putting money away for your future. It all starts when you open an account at your local credit union in New Bedford, beginning with a basic Share savings and checking account. Speak with a representative at your local branch to ask about other opportunities, including New Bedford credit checking options, money market accounts, certificate of deposit (CD) accounts and much more.

Getting Started: Open a Savings Account
Even if you aren’t ready for an IRA Share account, you can start putting money away into your regular New Bedford credit savings account. When you join St Anne Credit Union in New Bedford, you can start putting money away for your future any way that you like. Some people make deposits with every paycheck, so if you get paid weekly, twice a month or at the first of the month, make your savings deposits accordingly. Others like to make savings deposits based upon what they have leftover after paying bills and monthly necessities, adding more or less depending on that month’s bills. Another way to save is to put money into your savings at the credit union in New Bedford as though it were a monthly bill.

One example of this would be making a list of all your monthly costs, including rent or mortgage, average utilities, grocery costs, car payments, insurance, gas for your vehicle(s), credit card payments and anything else that you pay each month. Include a line in there for savings. Figure out how much you can invest each month into your savings and consider it a monthly bill. Whether that amount is $50, $100 or more, pay it each month and then just don’t think about it. Over time, that money will grow and grow, along with interest earned on your account, helping you to save enough to deposit it into a higher interest earning account, make an investment, or start your IRA Share savings account when you are ready.

Finding Money to Save
If you are like most Americans, you are currently living what is known as “paycheck to paycheck,” so you might think that you don’t have enough money to save for your retirement. The truth is that there is always money to be saved and found – if you are willing to work for it and look for it in your monthly budget. By working with an account representative at St Anne Credit Union in New Bedford, you can find ways to pay down credit cards to reduce interest, pay off certain credit accounts to lower your monthly payments. You can even save on things like mortgage and auto loans by financing through your local credit union instead of traditional banking institutions.

You can grow your savings over time. As you find more and more ways to cut your monthly expenses, move that money into your retirement account savings. You might have started out just saving $50 a month for retirement, but in year’s time with careful planning and reduction of high-interest credit card payments, you could be socking away $250 a month into your IRA Share savings account. Whether you are 25, 35 or even 45 years of age, any amount that you begin to put away into your New Bedford credit savings accounts that will go toward your retirement is a worthwhile investment. Ask about long-term savings opportunities that carry little to no risk, such as money market accounts, certificates of deposit (CD) and IRA Share savings at your local credit union in New Bedford.

Call or Visit St Anne Credit Union
If you are interested in learning more about putting money away for your retirement or even for a future major purchase, such as a new vehicle or as a downpayment on a new home, make sure to call or visit St Anne Credit Union in New Bedford. Our team can help you with lots of great opportunities for New Bedford credit savings, checking, auto and home loans, plus short and long-term savings options to help you get your IRA Share account rolling. Give us a call at 508-993-0011 to speak with a representative or stop by our location on Union Street in New Bedford, Massachusetts.