Planning for Retirement

We look forward to retirement for most of our lives.

What’s the most expensive thing you’ll ever buy? If you guessed retirement, you’d probably be right. However, not many people view retirement as something you buy.

But just like you would save for a house or a car, you can also save for retirement. Linn Area Credit Union can help!

401(k) SAVINGS CALCULATOR Many employers provide 401(k) retirement benefits for their employees. Take advantage of this – even if you’re working your first job. Check out this calculator and see how you can rack up some serious retirement savings.

401(k) SPEND IT OR SAVE IT CALCULATOR When you leave a job, it’s tempting to take that little chunk of retirement funds and spend it. How bad does that hurt your chances of living well in retirement? Plug your info into this little calculator and see!

BENFICIARY REQUIRED MINIMUM DISTRIBUTIONS CALCULATOR So you’re the beneficiary on a retirement plan? What does that mean? What do you have to do? This calculator can tell you how much money you’re required to withdraw to avoid being penalized by the IRS. Our IRA experts are here to help if you have questions.

RETIREMENT INCOME CALCULATOR So you’ve got some retirement money stashed away? Way to go! Want to know how much income it will give you each month? Just use this little calculator and you’ll know.

RETIREMENT NESTEGG CALCULATOR This is a great calculator for playing around with different retirement scenarios. How much do you have to have in retirement to get by on 80% of your current income? How about 75%? You’ll be much smarter after you’ve checked out this calculator.

RETIREMENT PLANNER CALCULATOR Need a plan for how much to save each month to have a carefree retirement? Try out this calculator and see how minor changes affect the amount of funds you’ll have available.

TRADITIONAL IRA CALCULATOR You can contribute up to $5,000 a year ($6,000 if you’re over 50) into a Traditional IRA and the contributions typically are tax-deductible. We can even help you arrange your IRA deposits via payroll deduction by clicking here — it’s not as painful if you save a little each payday. Stop by the credit union and get started today. The IRS provides great information, as well.

ROTH IRA CALCULATOR Roth IRAs are a pretty good deal for many of us, especially if you want more flexible withdrawal options. You can use this calculator to compare a Roth to a normal investment. Click here for some info about LACU’s Roth IRAs. The IRS provides some great information, as well.

COOL MILLION CALCULATOR Want to be a millionaire? You can make it happen with a plan. Check out this calculator and see how long it will take you to become rich (and maybe even famous).

HEALTH SAVINGS ACCOUNT (HSA) SAVINGS CALCULATOR Health Savings Accounts are a tax advantageous way to save for medical expenses – and if you have leftover money it can be used for retirement. Click here for information about HSAs at Linn Area Credit Union.

LONG TERM CARE CALCULATOR It’s no secret that an extended stay in a nursing home can quickly wipe out a family’s retirement savings. Debating if a long term care insurance policy is a good idea for you? Maybe this long term care calculator can help you decide.

Your retirement funds are safe at Linn Area Credit Union. They’re federally insured through the National Credit Union Share Insurance Fund (NCUSIF) which is managed by the National Credit Union Administration (NCUA). The NCUSIF insures member traditional and Roth IRA’s for $250,000 in the aggregate at each federally insured credit union.

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