Financial Planning

What Effect Does Divorce Have on Life Insurance

Like most of your financial planning objectives, your life insurance needs are related to the circumstances of your life. As your life goes through changes, your life insurance often needs to change with it. No life change may be of more consequence than a divorce. In addition to the financial and emotional difficulties that often accompany divorce, there are special … Continue reading
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Estimating Your Retirement Income Needs

Planning for your retirement is important, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. Use your current income as … Continue reading
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Protecting Loved Ones with Insurance

How much life insurance do you need? Your life insurance needs will depend on a number of factors, including the size of your family, the nature of your financial obligations, your career stage, and your goals. For example, when you’re young, you may not have a great need for life insurance. However, as you take on more responsibilities and your … Continue reading
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Understanding Long-term Care Insurance

It’s a fact: People today are living longer. Although that’s good news, the odds of requiring some sort of long-term care increase as you get older. And as the costs of home care, nursing homes, and assisted living escalate, you probably wonder how you’re ever going to be able to afford long-term care. One solution that is gaining in popularity is … Continue reading

Understanding the Need for Estate Planning

In a perfect world, everything you own would go to your desired beneficiaries – exactly as you intended, according to your will. Unfortunately, if you die unexpectedly, your assets may well not go where you want them – unless you make arrangements in advance. Probate The first concept to understand is probate. This is a formal legal process in which … Continue reading
Understanding the Need for Estate Planning

Understanding IRA’s

At Allegacy Federal Credit Union, we believe in doing the right thing for your wellbeing, including helping you prepare for every life stage along the way. As you look toward the future and your retirement, preparation and early planning can make a huge difference. An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs … Continue reading
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