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Golden Years

Golden Years

This is the season of life to enjoy retirement with more time to spend with family and friends, or your favorite hobby. Even if you are satisfied with your retirement and investments, keep an open mind about new ways to leverage your money. Here are some ways Farmers Bank & Trust can help you strengthen your financial position during your golden years.

    1. Keep the monthly budget.

By now, you have years of experience following a monthly budget. As your income changes and becomes more fixed, it is still important to stick to a budget and spend less than you bring in. Use Clarity to autimatically build and track your budget. Take advantage of any senior discounts whenever and wherever possible!

    2. Prevent overspending with direct deposit.

Don’t give yourself unlimited access to your investment funds. We invite you to come visit with one of our financial advisors about setting up direct deposits from your investments and social security to your checking account, for systematic withdrawals. This route provides a consistent paycheck and helps prevent overspending.

    3. Talk to a trusted investment advisor.

If you have contributed little toward retirement, or want to contribute more, it is more important than ever to start now. Check into possible benefits through your employer, such as a 401(k) investment plan. If your employer does not offer retirement benefits, we invite you to come visit with one of our financial advisors to learn more about IRAs and other investment options that fit your life. After age 50, you are qualified to boost your plans with “catch-up” contributions for your savings. You may want to consider these Farmers Bank & Trust services in planning for your future:

    4. Rent a safe deposit box.

A safe deposit box* is a convenient place to store important items that would be difficult, or next to impossible, to replace. Farmers Bank & Trust safe deposit boxes offer privacy and in most cases, greater security than keeping your valuables and important documents elsewhere. Also, some insurance companies charge lower insurance premiums on valuables kept in a bank’s safe deposit box instead of at home.

*Safe deposit box contents are not FDIC insured.