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Funding Your Future: The key to saving enough money for retirement

Posted at 1:31 PM, Jan 27, 2016
and last updated 2016-01-27 15:31:13-05

Financial expert Rachel Langlois with Cyprus Credit Union shares the key to saving enough money for retirement - meeting with a professional wealth manager.

Before you meet with an advisor, you should take the following steps:
• Know your budget. By understanding what you need to spend on a monthly basis will allow you to better determine how much you can realistically save for retirement.
• Understand your Social Security benefits. Call your local office or access your online account to get a clear picture of what benefits you will qualify for.
• Understand your employer benefits. Make sure you are aware of and taking advantage of all retirement plans offered by your employer. Make it a priority to contribute the max amount each year, especially if they provide an employer match.
• Compile your information. Bring copies of your most recent taxes and statements from each of your current retirement plans.
Come by any branch or visit to set up an appointment.