Contact Us Español
Nymeo Federal Credit Union Go to main content
Retirement Planning April 30, 2024

Most people think that planning for retirement starts when you’re middle aged, but in reality you should start as soon as you can. Here are some tips on how to begin retirement planning no matter how young you are.

target icon

Starting Early

Time is a powerful tool when it comes to retirement planning. The earlier you start the more you can grow your money with compound interest. This can greatly amplify your savings and can turn small contributions over time into massive gains by the time you retire.

Corporate Benefits/Retirement Accounts

Retirement accounts like 401(k)’s and IRA (Individual Retirement Accounts) offer tax advantages and can boost your retirement savings. Many employers will match a percentage of your contributions to a 401(k) which is free money towards your retirement.

balance icon

Retirement Goals

Consider what life you want to live in retirement, do you want to travel, maintain a comfortable home, or pursue your hobbies? Maybe all of the above! Specific goals will also help you save more money, since you have clear visions on how to spend it.

Stay Disciplined and Patient

Retirement planning is a long-term commitment. There is a lot of temptation to withdraw money early and spend it on impulsive investment decisions. Keep your eye on the prize!

philosophy icon


Life will throw many challenges your way and you will have to adjust your retirement contributions. It is ok to lower your contribution to make ends meet as long as you see the big picture and invest in your retirement.

Remember that Nymeo members have access to our Financial Advisor Geoff Tomasetti, who can assist with Retirement Planning.

  • Share:

Category: Financial Literacy & Safety

« Return to "Tutorial Tuesday Blog"

You may also like.


Tips on Keeping Safe During Vacation

Last year, traveling during Spring Break still seemed like a bad idea due to COVID-19. This year, everyone is ready for a vacation. As we get excited to venture out whether during Spring Break or over the summer, we may lose focus on keeping safe.

Read more

Financial Literacy & Safety
Shredded paper

Top Reasons You Should Shred

If you ever thought shredding was a waste of time, below are 4 reasons why you should do this at least once a year.



Read more

By NymeoFinancial Literacy & Safety
Up Arrow

Avoid Dynamic Currency Conversions When Traveling

When a merchant offers to convert your credit card transaction from the local currency into U.S. dollars, it might sound like a good idea because it is easier to but don’t be fooled. This is called dynamic currency conversion (DCC) and is an expensive and unnecessary fee for the cardholder.

Read more

By NymeoFinancial Literacy & Safety