Transform your financial habits- prepare for the future
|Your 50s are a good time to take stock of the asset allocation of your portfolio and evaluate your position relative to your retirement plans. For an accurate estimate, consider at what age you would like to retire and the lifestyle you plan to have… will you travel, have a vacation home, take up an expensive hobby? Project a budget, keeping in mind that some costs, such as health insurance, may increase and others, like your mortgage payment, may disappear. Once you have estimated your living expenses, then estimate how much your assets will be worth at retirement, and how long they are likely to last. You can do this with UBM’s retirement calculator. Also estimate your Social Security income. With all this information at hand, you may want to increase your retirement contributions.|
As you enter your 60s, fine-tune your projections and your asset allocations. If you retire before age 65, be sure you have medical insurance to cover you until you are eligible for Medicare.
UBM can help you in your pre-retirement lifestage to re-allocate your assets, increase IRA contributions and more.
Here are other ways pre-retirees can enhance their financial position at Ultima Bank:
Take advantage of our Premier checking account for customers over 55More Info
|Premier Checking – Free checks, safe deposit box rental at a reduced rate and more just for being a Premier account holder. The benefits keep adding up when you receive your statement via email. More details...|
Save time, money and paper with UBM's convenient online banking, ePay and debit card service
Let us help you take a shortcut to better financial management.
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 - There are many ways a UBM Debit card can benefit your lifestyle. View more information 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...
Check out our ratesMore Info
Catch up on your IRA contributionsMore Info
Now is a good time to up your contributions to your retirement savings accounts. In 2015, individuals under age 50 can contribute up to $5,500 into a Roth IRA or Traditional IRA.
After age 50, you are qualified to boost your plans with “catch-up” contributions up to an additional $1,000. Please consult your tax advisor for additional information.
Traditional IRA - If you are looking for a tax deductible IRA.
Roth IRA - If you desire tax free withdrawals at retirement over a deduction today.
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.