TopLine Federal Credit Union: Here for Your Investment Needs

Many people don’t realize the importance of investment planning to save money for your future and provide for your family. Put the work in now to plan and save for a better future.

Investment planning is one of our specialties at TopLine Federal Credit Union. Our helpful financial advisors are able to help you create a plan for your future and keep track of it. There are three primary aspects of life where investment planning is key – whether you work with a financial advisor or not:

College Planning

When it comes to planning for a college fund, there are three things to remember: start early, pick a balanced low-cost portfolio of stocks and bonds, and aim to spend it down sensibly over time.

You have 30-40 years to plan for retirement, while most people only have 18-20 years to plan for a college fund, and through much of that time, your parents are making plans for you. There are ways that you can be extremely strategic and smart when it comes to planning like taking advantage of tax breaks and knowing when it’s the right time to be aggressive and when it’s the right time to scale back. Such planning can be difficult alone, which is where a TopLine financial advisor can help you maximize your potential.


Estate Planning

Estate planning is very important. Unexpected things can happen and, especially if you are a parent of little ones, outlining what happens to your estate and your children is crucial, otherwise, the government will decide. Simply put: if you want your estate and loved ones are taken care of once you can no longer do it, you should create an estate plan.

Retirement Planning

Now more than ever, it’s important to take your retirement fund and planning into your own hands. The population is aging, which means more and more people depend on the social security system, while fewer and fewer contribute to it. Additionally, as we age there tends to be an increased risk for large unplanned medical bills. Let one of our financial advisors assist you with planning for your retirement will help you ensure that you’re able to save for retirement, no matter your income.


Retirement Investments Made Easy – Choosing an IRA

When you’re young and just breaking into the workforce, the last thing on your mind is saving for retirement. Ignorance can be bliss in that regard. But in reality, you should focus on starting a retirement plan at your job as soon as possible. The more money you have saved now, the better off you’ll be for it at a later age.

According to the Federal Reserve, nearly one-third of working-age Americans have no retirement savings or pension. That also includes 25 percent of non-retired people over the age of 45.

For a lot of Americans, retirement planning starts and ends with their employer’s retirement options, often called a 401(K). But not every employer offers a retirement plan and many people are forced to look elsewhere for retirement options.

Usually, an IRA (Individual Retirement Account) is the best place to start if this is the case.

It can be very confusing to figure out what kind of plan to choose when you haven’t looked that deep into retirement planning. The first thing you have to figure out is the difference between a Roth IRA and a traditional IRA.

Choosing an IRA

A Roth IRA is a great choice if you expect your tax rate to be the same or higher in retirement. Withdrawals in retirement are not taxed. A traditional IRA might make a good choice if you expect that your tax rate will be lower in retirement because contributions made now are deductible.

Both IRAs have income thresholds that govern who can make qualified contributions to the accounts. Contributions made to the accounts are made after taxes are paid, so there is no deduction. The contribution always grows tax-free.

How to invest your money isn’t an easy choice. It requires a lot of homework on which direction is best to take. The safest bet is picking investments in the stock market. Taking risks when you’re younger is safer than when you’re older.

Investors with 10 or more years left until they retire can also afford to take risks and go for high returns offered by the stock market rather than playing it safe with certificates of deposit and bonds. The good thing is you can’t lose money in safe investments, but the bad part is you can’t make that much, either.

You can open an IRA at most financial institutions, including TopLine Federal Credit Union. TopLine can help you prepare for your financial future with our specialized investment services.

Reach us at 763-391-9494 or learn more at!