PLAN FOR RETIREMENT

Go confidently toward your future.

Planning for retirement is one of the most important ways you can invest in yourself and your future. Our team of Wealth Management Advisors, available through CUSO Financial Services, LP ("CFS")*, is here to help you with Individual Retirement Accounts (IRAs), 401(k) plans, Social Security benefits and more.

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A CFS Wealth Management Advisor can help you:

  • Review your overall financial strategy for retirement

  • Decide whether a traditional IRA or Roth IRA is best for you

  • Invest 401(k) funds, consolidate 401(k)s or roll a 401(k) into an IRA

  • Understand your Social Security benefit options

  • Decide the right time to withdraw Social Security benefits

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Which IRA is right for you?

TRADITIONAL IRA

Pay taxes later and invest more now.

A traditional IRA allows you to save pre-tax income that grows tax-deferred. The funds are taxed at the owner’s current income tax rate when they’re withdrawn. Contributions may be tax-deductible.

Who can open one: Practically anyone can open and contribute to a traditional IRA. The main requirement from the IRS is to have taxable compensation.

Benefits:

  • Instead of being taxed, your income is invested in savings

  • You may be in a lower tax bracket when you make withdrawals from the account

  • Withdrawals can be made penalty-free starting at age 59 ½

ROTH IRA

Contribute after-tax funds now to avoid taxes later.

Withdrawals from Roth IRAs in retirement are tax-free. Contributions to Roth IRAs are made with after-tax dollars, and contributions are not tax-deductible.

Who can open one: Roth IRAs are available for individuals with incomes below limits set by the IRS. Contributions can be made at any age; however, contribution limits vary based on age.

Benefits:

  • Qualified withdrawals in retirement will be tax-free

  • Original contributions may be withdrawn at any time

  • If the account has been open at least 5 years, qualified tax-free distributions may include first home purchase, education or medical expenses

Elevations members get a free first consultation with a CFS Wealth Management Advisor.

More retirement planning services.

401(K) CONSULTATION

Invest, consolidate or roll over your 401(k).

When you’re changing jobs or looking for a new one, there’s a lot on your plate. Let our experienced CFS Wealth Management Advisors help you decide what to do with your 401(k) funds. Spend? Transfer? Roll into an IRA? Once you’ve made an informed choice, we’re here to make it happen. Our seasoned advisors can also recommend 401(k) investment options.

SOCIAL SECURITY CONSULTATION

Make a plan for Social Security benefits.

Did you know that Social Security benefits don’t need to start as soon as you retire? We can help you plan when to start receiving those valuable benefits to maximize your retirement goals.

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IRAS FROM ELEVATIONS CREDIT UNION

You don’t need to go anywhere else to save with an IRA.

With traditional IRAs, Roth IRAs and IRA certificates, Elevations has options to get you all squared away for retirement.

All Elevations IRAs feature:

  • $0 monthly fees

  • $0 fee to accept transfers

  • No limit to dollar amount of transfers

  • $100 minimum opening deposit

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TAX BENEFITS BLOG

Tax-advantaged savings vehicles.

This blog details the key differences between traditional IRAs, Roth IRAs, 401(k)s and more to help you better understand their tax benefits.

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401(K) BLOG

401(k) basics.

The 401(k) plan is one of the most popular types of employer-sponsored retirement plans—but do you know how they work? Before you sign up, learn the basics in our blog.

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Elevations Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

CUSO Financial Services, L.P. (CFS) does not provide tax or legal advice. For such guidance, please consult your tax and/or legal advisor.

Financial Advisors are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with, residents of other states will be made only upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.