Wauchula State Bank’s Life Stages Planning
Pre-Retirement
Transform your financial habits to prepare for the future
Your 50s are a good time to take stock of your assets and evaluate your position relative to your retirement plans. For an accurate estimate, consider at what age you would like to retire and the lifestyle you plan to have… will you travel, have a vacation home, take up an expensive hobby? Project a budget, keeping in mind that some costs, such as health insurance, may increase and others, like your mortgage payment, may disappear. Once you have estimated your living expenses, then estimate how much your assets will be worth at retirement, and how long they are likely to last. You can do this with Wauchula State Bank’s retirement calculator. You’ll also need to estimate your Social Security income. With all this information at hand, you may want to increase your retirement contributions.
As you enter your 60s, fine-tune your projections and your asset allocations. If you retire before age 65, be sure you have medical insurance to cover you until you are eligible for Medicare.
Wauchula State Bank can help walk you through all these factors as you look to your future retirement. Let our experienced Financial Advisors assist you with more detailed information.
Here are other ways Wauchula State Bank is helping pre-retirees:
You’ll reduce the time it takes to pay your bills and save on the expense of printed paper checks and postage while helping the environment as well.
Personal Online Banking – With Wauchula State Bank’s Personal Online Banking, customers can access accounts from anywhere 24 hours a day, 7 days a week via the World Wide Web at www.wauchulastatebank.com. Having the ability to monitor your account at any time offers peace of mind like never before! It’s fast, it’s easy and best of all, it’s free!
Online eStatements is a free, secure and paperless option to managing your account activity online - anytime, anywhere. Sign up by opting in for electronic statement delivery through our Online Banking service.
After age 50, you are qualified to boost your plans with “catch-up” contributions. Contact our Retirement Specialists for more details.
Tips for Effective Financial Management:
- Become aware of opportunities to reduce your lifestyle costs, e.g., downsizing vehicles or your home may provide convenience while lowering the costs and time of maintenance.
- Determine your financial priorities, make a list with deadlines and start accomplishing them.
- Start the decision-making process about where you want to live during retirement and figure all the associated costs.
- Spend time doing what you plan to do at retirement to help yourself determine if you’re ready.
Some Financial Calculators for Pre-Retirees...
Our calculators can help you determine what you need to achieve your goals and stay on budget.
| Mortgage Calculator | Retirement Calculator |
For help determining the best solutions for sound and productive money management during your pre-retirement life stage, please contact us at 863-773-4151 or customer.service@wauchulastatebank.com . We’re here for you!
