When it comes to your personal finances, it is important to always make good choices and invest in the success of your financial future. While stocks and bonds have the opportunity to be very profitable, it is not always a sure or safe financial investment. It also takes significant research and understanding of the stock market to make sure you are investing your hard-earned money appropriately.
Safest Investments for 2020
At White River Credit Union in Enumclaw, we take financial investments seriously and want to help you find the best investment opportunities available to you. The stock market is a tricky investment field and takes expertise and experience to know which stocks are likely to succeed and which will fall flat. With the new year quickly approaching, our team has compiled the following list of the safest financial investments for 2020.
401(k) Matching
If the company at which you are employed offers 401(k) with a matching contribution, take full advantage of that. Many employers offer 50% (even as much as 100%) matching contributions to whatever you put into your 401(k), so if you haven’t invested as much as is allowed for matching, you are leaving money out there.
Health Savings Account (HSA)
Health Savings Accounts are tax-advantaged ways to save for healthcare expenses and have great retirement savings benefits in the long-run. If you are able to contribute as much as possible to your HSA, you may be able to save enough money to eventually supplement your retirement savings. Check to see if your employer contributes to the account as well.
IRA
Saving for retirement is an important part of your working life, and you need to have a plan to do so. If you do not have a 401(k) or HSA, you may want to consider an IRA as your retirement savings plan. It will prevent you from using money you have set aside for retirement to pay your current bills or other expenses. There are also some great tax benefits to having an IRA.
Long-term CDs
Having solid financial investment that have high yields is important as interest rates continue to decline. Long-term certificates of deposit (CDs) is a great way to have the high yield for your future retirement. You can also stagger (or ladder) your CDs so that they mature at different times giving you money more regularly.
Local Investment Opportunities
Many small businesses in your community are looking for supporters looking to invest in the business and help it grow. Local investment opportunities are a fun, exciting way to be a part of the business world and, hopefully, yield a profit. At White River Credit Union, we can help you find investment opportunities such as local businesses that you can take advantage of.
Contact Our Enumclaw Credit Union
Our team at White River Credit Union is here to help you wisely invest your money and make sure you feel secure in your financial future. We are happy to explain various investment opportunities and help you decide which is best for your financial situation. With over 60 years of banking experience, we have the skills and knowledge to show you how to properly invest in your future. Contact us today for more information.
