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So if you want to get the most out of the proverbial Golden Years,
you need to plan ahead carefully.
Taking Charge of Your Financial Future
Taking a few common-sense steps can help put you on the road to
the kind of retirement you envision.
No matter what your dreams are, Huntington Funds can help you
invest for the times of your life.
To receive a complimentary Personalized Financial Analysis
please visit a Huntington Investment Representative at a Huntington
office near you or call 1-877-480-7384 and press 1.
Step 1: Know your retirement needs and be
realistic
Retirement is expensive. It's easy to underestimate what your expenses
might be when you stop working. For example, You might not need
a work wardrobe any more, but your travel and entertainment expenses
may go up considerably. Make sure your retirement goals are specific
and measurable. Get a handle on how much income you'll actually
need and remember, you may need it for quite some time.
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Step 2: Find out about your Social Security
benefits
Do you know exactly how much you can count
on from Social Security? Social Security benefits were never intended
to be the only source of income for you and your family when you retire.
You'll need to supplement your benefits with income from an employer-sponsored
plan, as well as personal savings and investments. Call the Social
Security Administration at 1-800-772-1213 or log onto their Web
site for a free Personal Earnings and Benefit Estimate Statement.
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Step 3: Learn
about your employer's pension or profit sharing plan
If your employer offers a plan, check to see what your benefit is
worth. Request a statement of your individual benefits. Know what
will happen if you change jobs.
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Step 4: Contribute
to a tax-sheltered savings plan
If your employer offers a tax-sheltered savings plan, such as a
401(k), experts recommend taking full advantage. You make pre-tax
payroll deductions which grow tax deferred, and your employer will
probably match your contribution in amounts anywhere from 25% to
100%. If you're self-employed, you might want to think about funding
a Keogh plan, which lets you shelter self-employment income. Depending
on the size of your company, you may be able to take advantage of
a Savings Incentive Match Plan for Employees IRA (SIMPLE-IRA).
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Step 5: Consider
an Individual Retirement Account
As an individual you should strongly consider funding an Individual
Retirement Account (IRA). Since 1998, two different types of IRAs,
the Traditional IRA and the Roth IRA, offer different benefits to
qualified investors. To learn more about IRAs please visit a Huntington
Investment Representative at a Huntington office near you or call
1-800-322-4600.
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Step 6: Get
advice and personal attention from a registered representative of The Huntington Investment Company*
Through a detailed Personalized Financial Analysis, your
Huntington Investment Representative can help you build a sound
financial retirement plan based on your goals, risk tolerance and
time horizon. This analysis will assess your current financial situation
and assess how prepared you are for retirement. It will detect any
shortfalls. Based on the results of this analysis, your Representative
can tailor a strategy that's right for you. You can relax knowing
that each comprehensive analysis is prepared by a Huntington Chartered
Retirement Planning Counselor.
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If you do not have a brokerage account, please call 1-877-480-7348, option 1 to receive your complimentary Personalized Financial Analysis.
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Step 7: Review
your Progress
It's important to review your retirement plan regularly to ensure
that it still meets your needs. A Huntington Investment Representative
can help you review and evaluate your retirement portfolio to make
certain that it is in line with your projected goals. To locate
a Huntington Investment Representative in your area, call 1-800-322-4600
and press 1.
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