Retirement: Secure Tomorrow, Today

As we journey on the Road of Life, planning for retirement can often take a back seat to more immediate financial needs. Bills need to be paid, and necessities covered, but that doesn’t mean retirement should be completely out of mind, especially when time is always working against us. Planning and saving to pave the way to a secure retirement is a lot easier than you may realize.

It’s never too early or too late to start working toward retirement, especially with the trusted guidance of our experts at The Peoples Bank Asset Management and Trust Services Department Our experts can provide simple strategies to help you grow a nest egg to be proud of when deciding to clock out of work for the last time.

Save Often

Any retiree will tell you this, but only because it’s true. Saving early and as often as possible will have you thanking yourself later down the road of life. The power of compound interest in a high-yield savings or money market account can work wonders the longer you allow your money to grow. The saving process, even if it’s in smaller amounts, will add up faster than you think.

Maximize Employee Benefits

Take full advantage of employer-sponsored retirement plans, such as 401(k)s, and Roth 401(k)s, etc. especially if your employer offers matching contributions and vested options. Employer matches are when organizations contribute money to your 401(k) that matches the contributions you put into the account every paycheck up to a certain percent, essentially increasing the amount you save at no cost to you. Contributing the maximum amount your employer will match, or even as much as you can afford, will yield significant benefits for when you choose to retire.

Create Your Own Retirement Accounts with The Peoples Bank

If your employer doesn’t have a 401(k) or other retirement benefit, our friendly staff can help show you the benefits of doing so directly with the bank.

Automate When Applicable

They say the simplest solution is often the most effective, and that’s absolutely the case whenever it’s possible to exercise this next tip: Automate your savings! Here are some easy ways to get started:

Have your employer automatically allocate money for your 401(k).
Work with the team at The Peoples Banks Asset Management & Trust Services Department to set up automatic transfers from a checking or savings account into an investment account. You can do this even if the account you are transferring “from” is not at The Peoples Bank. Just call that department at 228-435-8208 to learn how.
Enroll in The Peoples Banks CentsUp™ program where every purchase you make is rounded up to the nearest dollar with the change being sent to your savings. This way, you’ll be saving money without even thinking about it!
Talk to our team about setting up an Automatic Investment Plan (AIP) with one of our certified trust and fiduciary advisors (CTFA) today! Just call that department at 228-435-8208 to learn more.

Beyond basic savings, The Peoples Banks Asset Management and Trust department provides a multitude of investment, trust and estate planning services to help you plan for the future. The entire Peoples Bank team is always here to offer guidance no matter where you might be on the Road of Life. Learn more and get started today by visiting our Retirement Planning page or call 228-435-8208.

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