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Want to do a better job preparing for retirement? Three easy-ish steps that could make a big difference.

Young woman talking to female financial advisor

If you’re like some people, thinking about retirement is probably right up there with “schedule root canal” and “take dog to the vet.” You’re certainly not alone in feeling this way.

But having lots of company doesn’t mean it’s ok to put retirement in your “I’ll worry about that someday” pile. Because the comfortable retirement you’ve been dreaming of is only going to happen if you make it happen! And there’s no better time to do that than the beginning of a fresh, new year.

Here are three steps to get you there.

Step #1. Take a closer look at your employer-sponsored retirement plan

If your employer has and an employer-sponsored retirement plan, how much are you contributing each year? Lots of employers automatically sign you up for whatever amount your company will match — and you should definitely take advantage of what’s essentially “free money.”

But should you be setting aside more through this plan? For many people, the answer is “yes.” But that might not be the case if you have lots of high-interest debt (like a credit card you’re struggling to pay off), don’t have a rainy day fund or know your employer’s plans have high fees associated with them.

How can you figure all that out? Proceed to Step #2!

Step #2. Sit down with a Summit Financial Advisor

One of the best ways to own your retirement is to really understand the tools you’ve already got in place and then decide if there are other things you should be doing too.

An easy way to do both? Set up an appointment with a Summit Financial Advisor.

To get the most out of your appointment, bring in your current retirement plan statements. This will give your Advisor the tools they need to help you create a hard-working retirement plan.

Step #3: Investigate whether you should diversify your retirement savings by adding an Individual Retirement Account (IRA).

Participating in your employer’s plan (if offered) is a great first step, but most people should be saving for retirement in other ways too. One tool that works well for a lot of people is an IRA.

IRAs come in two flavors: Roth and Traditional. Each has its own benefits and qualifications and you’ll find a quick summary on our IRA page.

Then, count on your Summit Financial Advisor to learn more. They know the pros and cons of each IRA type and can help you figure out which one is right for you.

See, that wasn’t so hard! You’re on track to owning your best retirement — and you can already check a resolution off your list!

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. FR-1984430.1-0118-0220 

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