Everyone works towards retirement in the hopes of enjoying their pension and social security and lead peaceful, simple lives. But the money saved from all their years of work sometimes isn’t enough to live comfortably once the working stops. To avoid this situation, many in the U.S. have turned to investing in high interest rate savings accounts while they are working to help supplement their income once they retire. Or they could move to Panama, like Corpus Christi natives Robert and Katherine Coleby, who discovered they couldn’t afford to live in the U.S. on their retirement.
The cost of living is on the rise in the United States making retiring into a comfortable life on a simple pension plan increasingly difficult for many Americans. This combined with the fact that most Americans have less than $30,000 in savings leads to more questions than answers when it comes time to consider retirement.
Planning and saving for retirement is an investment for your future. If you have any questions about how to start saving for your retirement, contact Valley Federal Credit Union at (956) 546-3108. Let us help with the planning of your retirement. It’s never too late…or too early.