Retirement

Just by glancing at a single number, lenders can determine how financially responsible you are and decide whether to lend you money or not. Your credit score determines other important things like interest rates as well, which is why it’s so important to make sure your score is good. If you don’t have the greatest credit score, here are some basic ways you can improve it.      Check Your Credit Score Frequently   Just like you should be monitoring your Read More

It may seem like a lifetime away, but retirement has a way of sneaking up on all of us. Something to remember when it comes to retirement is that the earlier you start saving, the better. Plus, you’re never too young to invest in your future. If you’re in your 20s, here are some helpful strategies you can implement to set yourself up for a successful retirement.  1. Rid Yourself of Debt  The first step in creating a retirement fund is to look at what you’re dealing Read More

Why should I worry about saving for retirement right now? Are IRAs really that important? If you are questioning the importance of saving for retirement and what can drastically affect your future, you’ll want to continue reading. We wanted to provide a beginner’s guide to IRAs so you can understand your options and the differences between IRAs.  What is an IRA?  An individual retirement account (IRA) is basically a savings account with tax advantages for Read More

It’s been proven that senior citizens are a much easier target for hackers because older folks didn’t grow up in the current world of technology. Whether you’re a senior looking for some advice or you have an older loved one who you want to look out for, these cybersecurity tips are important for everyone to remember. Don’t Overshare Information Social media is a great way to stay connected to family and friends, especially if they don’t live nearby. Keep in mind Read More

Now that you’re out of your 20s and you’ve most likely been working for a few years, you may have come up with some new financial goals for the decade. Maybe you’re still hanging onto some bad money management habits that developed in your 20s and you’re ready for a fresh start. Keep reading to learn what to avoid in this new stage of life. Avoiding the Thought of Retirement It may seem like retirement is still lifetimes away, but it’s extremely important to invest Read More

IRAs can be confusing and even seem unnecessary to talk about for some, especially if retirement still seems lightyears away. Allow us to answer some of the most common questions people have about IRAs: Q: Am I allowed to contribute to an IRA if I have a retirement plan through work?  A: Yes, as long as you meet the IRA’s eligibility requirements ‐ even if you participate in a 401(k) plan at work.  Q: What is the contribution limit? A: The contribution limit is annual, Read More

Even though it may seem far off into the future, it is never too early to start saving for retirement. If you have an idea of what you want your retirement to look like, it makes it much easier to plan for it and set goals in order to reach that vision. Here are some tips on how you can look ahead toward retirement savings.   Set Your Goals After all your years of hard work, you’re looking forward to some rest and relaxation—but how will you finance it after Read More

Congratulations on your engagement and wedding! Whether you are recently engaged or have already tied the knot, talking about finances is extremely important in order to set you both up for success. Exchange Bank of Northeast Missouri wants to offer a married couple’s guide to finances, so you can live happily ever after.  How will bills be split?  There are many day-to-day and monthly expenses that arise. You’ll want to talk about how these will be shared so both Read More

While retirement might sound lifetimes away, it sneaks up faster than you think. Many people wonder when to start saving for retirement, how to start, how much money they’ll need and more. We’ll answer those common retirement questions in this blog, so keep reading!  When to Start  The time is now! If you are earning paychecks, start saving for retirement as soon as you can. The sooner the better, and the main reason for this is because your money will have Read More

Maybe you are already off to a good start when it comes to saving for retirement, but there may be some ways in which you can amp it up. If you could boost your retirement savings even by a little now, it can pay off big time later! Here’s how: Step Up the 401(k) Most companies offer a matching contribution of up to three percent to your 401(k). If you aren’t taking advantage of this now, make sure you do so immediately. Once you have established this for a year, consider ramping Read More