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Long Term Planning

Long-term Saving Is a Marathon, Not a Sprint.

Securing your financial future is about seeing the big picture and making a long-term plan that can help you live comfortably well into your Golden Years. So what should you be thinking about?

  • How should I plan long-term with present expenses?
  • Where should I put my money for it to grow?
  • When do I want to retire and what type of lifestyle do I want to have?
  • What type of support do I want to provide for my child’s education?

Here are some quick tips to help you get started thinking about long-term planning.

Start a 401(k)
A 401(k) is a savings contribution plan that allows you to make pre-tax contributions to a long-term plan via payroll deduction from your employer. Many employers offer dollar-for-dollar matching up to a certain percentage in addition to your contribution. Don’t you just love free money!

Supplement your 401(k) with an IRA
If your employer doesn’t offer a 401(k) plan, or you want to have more control over your investment plan, consider opening an Individual Retirement Account (IRA) through your financial institution. IRAs also offer tax benefits and can be automatically funded a bank account monthly.

Take your investment strategies to the next level
If you’re ready to take your investment strategy to the next level, take the time to meet with an investment professional who can review your entire financial picture and recommend products that can help you allocate your assets based on your retirement time horizon and your future lifestyle need. Financial Center provides this service in its retirement planning area through its partnership with CUSO Financial Services, L.P. (CFS)*.

Start a 529 Plan for Educational Expenses 
Simply put, a 529 plan is a long-term savings plan to help pay for education expenses for children, grandchildren, or even yourself. Like other investment vehicles, 529 plans offer tax benefits. All states offer their own plan, and you can enroll in any plan out there. However, tax benefits may be limited to the state in which you reside. Check out Indiana’s 529 plan at

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. CUSO Financial Services, L.P. and its representatives do not provide tax advice. For such advice, please contact a tax professional.

Your savings federaly insured to at least $250,000 and backed by the full faith and credit of the United States Government: NCUA, Equal Housing Lender, ESI