Breaking Down Retirement: What Plans Work Best For You
November 16, 2018
Categories: Business, Financial Education, Retirement
Saving for retirement is an important part of life. How much you save during your working years can dictate how comfortably you live in your older years.
And saving early is important. It can be the difference between hundreds of thousands or even millions of dollars. For example, if you put away $5,000 annually at an average growth rate of about 8 percent, you could be a millionaire in 40 years ($1.4 million). If you wait 10 years and only have 30 years on that growth, you’d only...
Money Magic Tricks
September 27, 2017
Categories: Budgeting, Financial Education, Retirement, Savings
Magic is one type of entertainment that will never go out of style. Whether it’s David Blaine and his shocking stunts, or newly famous films such as Now You See Me, this classic art has proved to truly stand the test of time. While Peoples Trust & Savings Bank may not be the best at slight of hand, we do have a few savings tricks up our sleeves! See if you can understand the steps to these financial stunts and make your fiscal success appear out of thin air.
Make...
How to Save for Retirement at Every Age
March 1, 2017
Categories: Personal Finance, Retirement, Savings
How much do you need to retire? Will you continue working after age 65? Do you want to travel during your retirement? These are just a handful of questions that are important for retirement preparation. Unlike saving for a home or new vehicle, saving for retirement requires long-term commitment and goal oriented benchmarks. At Peoples Trust & Savings Bank we want to help you succeed as you save, and offer these milestone marks:
Age 18-25: During this...
5 Financially Savvy Ways to Use Your Tax Refund
January 11, 2017
Categories: Financial Education, Mortgage, Personal Finance, Retirement, Saving Money
Getting your taxes done early not only takes one more thing off your to-do list but further allows you to start planning for the future. Working with your tax professional, determine how much your family may receive this year from a tax refund. No matter the amount, we recommend putting it towards your financial goals for the year. Here are some great strategies we’ve tried to get the best bang for our buck:
Max out your 401(k) or Traditional IRA contributions....
How to Hit a Homerun in Retirement
July 11, 2016
Categories: Budgeting, Financial Education, Retirement
Winning in a baseball game or in your retirement savings is no easy feat! It takes dedication and determination to seal the win. As you begin to reexamine your retirement plan try these key pointers from Peoples Trust & Savings Bank to coach you along the way!
Load the Bases
If you have available resources, make sure you’re using them! Just as a batter is primed to score with his bases covered in players, so are you by capitalizing on...