PLAN FOR RETIREMENT
Go confidently toward your future.
Planning for retirement is one of the most important ways you can invest in yourself and your future. Our team of Wealth Management Advisors, available through CUSO Financial Services, LP ("CFS")*, is here to help you with Individual Retirement Accounts (IRAs), 401(k) plans, Social Security benefits and more.
Which IRA is right for you?
Pay taxes later and invest more now.
A traditional IRA allows you to save pre-tax income that grows tax-deferred. The funds are taxed at the owner’s current income tax rate when they’re withdrawn. Contributions may be tax-deductible.
Who can open one: Practically anyone can open and contribute to a traditional IRA. The main requirement from the IRS is to have taxable compensation.
Instead of being taxed, your income is invested in savings
You may be in a lower tax bracket when you make withdrawals from the account
Withdrawals can be made penalty-free starting at age 59 ½
Contribute after-tax funds now to avoid taxes later.
Withdrawals from Roth IRAs in retirement are tax-free. Contributions to Roth IRAs are made with after-tax dollars, and contributions are not tax-deductible.
Who can open one: Roth IRAs are available for individuals with incomes below limits set by the IRS. Contributions can be made at any age; however, contribution limits vary based on age.
Qualified withdrawals in retirement will be tax-free
Original contributions may be withdrawn at any time
If the account has been open at least 5 years, qualified tax-free distributions may include first home purchase, education or medical expenses
More retirement planning services.
Invest, consolidate or roll over your 401(k).
When you’re changing jobs or looking for a new one, there’s a lot on your plate. Let our experienced CFS Wealth Management Advisors help you decide what to do with your 401(k) funds. Spend? Transfer? Roll into an IRA? Once you’ve made an informed choice, we’re here to make it happen. Our seasoned advisors can also recommend 401(k) investment options.
SOCIAL SECURITY CONSULTATION
Make a plan for Social Security benefits.
Did you know that Social Security benefits don’t need to start as soon as you retire? We can help you plan when to start receiving those valuable benefits to maximize your retirement goals.
IRAS FROM ELEVATIONS CREDIT UNION
You don’t need to go anywhere else to save with an IRA.
With traditional IRAs, Roth IRAs and IRA certificates, Elevations has options to get you all squared away for retirement.
All Elevations IRAs feature:
$0 monthly fees
$0 fee to accept transfers
No limit to dollar amount of transfers
$100 minimum opening deposit
TAX BENEFITS BLOG
Tax-advantaged savings vehicles.
This blog details the key differences between traditional IRAs, Roth IRAs, 401(k)s and more to help you better understand their tax benefits.
The 401(k) plan is one of the most popular types of employer-sponsored retirement plans—but do you know how they work? Before you sign up, learn the basics in our blog.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Elevations Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
CUSO Financial Services, L.P. (CFS) does not provide tax or legal advice. For such guidance, please consult your tax and/or legal advisor.
Financial Advisors are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with, residents of other states will be made only upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.