Investing to Build Your Wealth
Investing is an excellent tool to help you build your wealth. Some people consider themselves wealthy because they live in an expensive house and travel around the world, others believe they are wealthy simply because they’re able to pay their bills on time. Whatever your definition of wealth looks like, building wealth requires having the right information, taking the time to create a plan, and making good choices. You can create personal wealth and meet your financial goals. By choosing to save and invest, you can pay off debt, send your child to college, buy a comfortable home, start a business, save for retirement and put money away for a rainy day. Through budgeting, saving and investing, building credit and controlling debt, all of these goals are within your reach. Whether you’re an experienced investor or you’re starting from scratch, there are many different ways you can begin investing:
Money Market
A money market account is a type of savings account, but with a higher interest rate than the general savings rate. A money market account can also be great for housing your emergency fund. It keeps the funds separate from your daily use so you aren’t tempted to dip into your savings, but the higher yield will help your savings grow even faster.
Certificate Account
A certificate account is an excellent way to use your money knowing you'll earn top dollar. A certificate is similar to a savings account, except you earn a higher interest rate in exchange for agreeing to leave the money in the account for a set period of time. Certificate terms can range from 6 months to 60 months. At the time of maturity, you can withdraw the funds with accrued interest or choose a new term and continue earning. The certificate will automatically renew at the maturity date for the same period of time you originally chose and at the new current rate, unless you call and make any changes.
Individual Retirement Account
An individual retirement account (IRA) is a type of savings vehicle that provides you a secure way to build your nest egg for retirement. IRAs also give you a tax break for investing money for your future. The specific tax benefit depends on the type of IRA. At Robins Financial, we offer Traditional, Roth, and Coverdell Education Savings Accounts.
Robins Financial Credit Union offers multiple investment options for you to choose from. We will be right here every step of the way to help you start investing and as you build and maintain your portfolio. By creating savings and building on investments, you can face the future with confidence and financial security. We can help with a variety of savings and investment accounts, from IRAs that are available as a savings account, CDs with competitive rates and flexible terms from 6 months up to 5 years, and Prestige Money Market Accounts that earn market rates.
Robins Investment and Retirement Services Program is a personal financial management service designed especially for credit union members. At no cost or obligation, we provide professional retirement, insurance and investment services to members like you whether you’re just starting a savings plan, nearing retirement, or already living in retirement. Our Robins Investment and Retirement Service Representatives can work with you to help you achieve your goals. Contact them to today to make an appointment.