It’s Never Too Early to Start Saving for Retirement

When you are first starting out and beginning your career, the last thing you are thinking about at that moment is your retirement. But did you know that this is the exact moment you should be thinking about it? If you start your retirement savings at age 25 vs. waiting until you are 35, you have the potential to double your savings balance at retirement age. By saving early, you allow more time for the earnings to compound and grow.

You can start by opening a Roth IRA, setting up automatic transfers each pay period and potentially benefiting from tax-free earnings. Over time, you can increase the amount you invest and open Roth IRA Certificates to earn a higher percentage yield. With a Roth IRA, the dividends earned are tax-deferred until withdrawn, at which time, if all requirements are met for a qualified distribution, these earnings may be tax free.

For more information on APCI Federal Credit Union IRAs, please call Al Kauffman, our certified IRA expert, at 800-821-5104, ext. 6840.