Should I Invest in a Roth IRA or a Traditional IRA?

There is no easy answer to this question. An individual retirement account (IRA) is a personal savings plan that offers specific tax incentives to encourage you to save for retirement. Currently, there are two types of retirement IRAs, Traditional IRAs and Roth IRAs, and they share certain general characteristics. Both feature tax-deferred growth of earnings …Continue Reading

Four Steps to Build a Strong Financial Foundation

Most people have good intentions about saving money and investing for the future. It’s easy to think that you will begin to save and invest when you reach a more comfortable income level, but the longer you put it off, the harder it will be to accumulate the amount you may need for an emergency …Continue Reading

Why You Should Plan For Your Future Right Now

by Michael Poulos, President/CEO of Michigan First Credit Union Keeping Your Balance is a blog brought to you by Michigan First Credit Union and The Oakland Press. For younger people, the future can seem like a distant dream. If you’re just starting your career, it’s hard to imagine that 30 years from now, you’ll be …Continue Reading

Rx For Your Retirement Plan

Seventy billion dollars! Here’s that number with all of the appropriate zeroes: $70,000,000,000. That’s the amount of money being removed each year from 401(k) plans across the country. It’s a sign of the times, as our nation continues to seek solid financial footing … but what does it mean for those people resorting to such …Continue Reading

Your Retirement Warning Track

In baseball, a warning track is the part of the field where grass gives way to dirt as a way to warn players in the outfield they’re approaching the wall or fence that marks the outermost edge of the playing area. It’s a sort of “head’s up” they’re running out of time as they chase …Continue Reading