Financial guidance for maturing adults without children
Maximizing your paycheck in your 30s and 40s is a priority during this time when your income tends to rise. You may have discretionary income for travel and hobbies, and the challenge is to find the right balance between spending and saving. The financial decisions you make now will have the greatest impact on the lifestyle you will enjoy during retirement. It’s important to note that people are retiring earlier and living longer, and you may need more money in the future than you think.
Ultima Bank Minnesota can help you stay on track with your long term financial goals.
Shop for the best mortgage and consumer loans
Seeking the best mortgage or consumer loan by shopping, comparing and negotiating may save you thousands of dollars.
A mortgage—whether for a home purchase, refinancing or a home equity loan—is a product, just like a car, so terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage including interest rates, points, fees and down payment and private mortgage insurance requirements. Personal loans and lines of credit can be helpful when extra cash is needed to reduce significant credit card debt—but be cautious about re-building credit card debt once it is paid.
With competitive rates, experienced lending professionals and local decision-making, you’ll be sure to find a loan at UBM that meets your needs. For more information on our loan products, stop by and talk with one of our loan officers or view more information.
Understand your credit report
Your financial behavior over the past seven years, including how much credit you have, how long you've had it and whether you pay your bills on time is information included in your credit report.
Three credit reporting agencies — Equifax, TransUnion and Experian — maintain these reports, and lenders buy them to help them decide whether to offer you a prequalification. Your credit report also carries your credit score ranked between 300 and 850 that many lenders use to decide whether you are creditworthy and will repay a loan. Your credit score can also influence the interest rate you pay. In many cases, the higher your score, the lower your interest rate. Your credit score is available from the three credit reporting agencies:
Check out our convenient checking accounts, online banking, bill pay and no-charge ATM services
Save time, money & paper ... need we say more?
UBM Regular Checking Account - This account, when statements are received via email, is service charge free. There is no minimum balance required, no fee to have a debit card and no per item charges. Check out this and all of our UBM Checking products...
eStatements & eAlerts - The fastest way UBM offers our customers information on their accounts is via eStatements and eAlerts. They use technologies we are all accustomed to and completely eliminate paper ... now that is a winning combination. For more information on either of these great services, please click on the links above.
UBM Debit Card - Easy access to cash and faster checkout times with the UBM debit card. Learn more and locate a no fee ATM near you...
Pay bills with ease online with ePay - Access is securely granted via your NetBanc or ExecuBanc session. ePay can notify you when a bill is due, once it has been paid and so much more. More information...
So Many Ways To Save
No matter what you are saving for, we have a product to suit your needs.
At UBM, we try to stay competitive with our rates and offer products to fit your needs. No matter if you are saving for something big or for a rainy day, we can help you get a plan started to help keep you on track.
Certificates of Deposit -Check out terms and current interest rates.
Savings - At UBM, there are many ways to save, with savings accounts to fit any need. More savings information...
Remember that saving doesn't have to hurt. We can help you to set up a systematic savings plan with as little as $5 all on your schedule. This can be done with our assistance or via NetBanc scheduled transfers. Please contact us at firstname.lastname@example.org for more information on how you can get started.
Save for Retirement
Many people underestimate the amount of money they’ll need in retirement.
Be realistic about major expenditures, e.g., will your mortgage be paid off by retirement? If so, you may need less income than you do now. Do you plan to buy a vacation home or travel extensively? Will you have to pay for your own health insurance? These and other financial considerations all come into play.
Now is a good time to up your contributions to your retirement savings accounts. In 2016, individuals under age 50 can contribute up to $5,500 into a Roth IRA or Traditional IRA. Those over age 50 can also contribute up to an additional $1,000 in catch-up contributions. Please consult your tax advisor for additional information.
Traditional IRA - If you are looking for a tax deductible IRA, a Traditional IRA may be the product for you. More information...
Roth IRA - If you desire tax free withdrawals at retirement over a deduction today, a Roth IRA may be the product for you. More information...
For help determining the best practices and products for sound and productive money management during your particular lifestage, please contact us at 800-421-2588 or email@example.com.