Transform your financial habits to prepare for the future

Your 50s are a good time to take stock of the asset allocation of your portfolio and evaluate your position relative to your retirement plans. For an accurate estimate, consider at what age you would like to retire and the lifestyle you plan to have… will you travel, have a vacation home, take up an expensive hobby? Project a budget, keeping in mind that some costs, such as health insurance, may increase and others, like your mortgage payment, may disappear. After estimating your living expenses, then estimate how much your assets will be worth at retirement and their longevity. You can do this with ACB Bank’s retirement calculator. Also include an estimate your Social Security income and with this information at hand, you may want to increase your retirement contributions.

As you enter your 60s, fine-tune your projections and your asset allocations. If you retire before
age 65, be sure you have medical insurance to cover you until you are eligible for Medicare.

ACB Bank can help you in your pre-retirement lifestage to re-allocate your assets or increase IRA contributions. Please contact us for more information.

1.Take advantage of our interest-bearing checking account.

Take advantage of our interest-bearing checking account.

Interest Account

Money Market

2.Conserve time, money and paper with ACB Bank’s convenient checking accounts with online banking

You’ve earned it. ACB Bank gives you two checking accounts built for the way you live.

Also, you’ll reduce the time it takes to pay your bills and save on the expense of paper checks and postage while helping the environment.

Interest Account

Free Checking

3.Catch up on your IRA or other retirement plan

After age 50, you are qualified to boost your plans with “catch-up” contributions. Contact us for more details.

After age 50, you are qualified to boost your plans with “catch-up” contributions. Contact us for more details.

Tips for Effective Financial Management:

  • Become aware of opportunities to reduce your lifestyle costs, e.g., downsizing vehicles or your home may provide convenience while lowering the costs and time of maintenance.
  • Determine your financial priorities, make a list with deadlines and start accomplishing them.
  • Start the decision-making process about where you want to live during retirement and figure all the associated costs.
  • Spend time doing what you plan to do at retirement to help yourself determine if you’re ready.

Some Financial Calculators for Pre-Retirees

Our calculators can help you determine what you need to achieve your goals and stay on budget.

Life Insurance  Social Security