Celebrating National Financial Awareness Day Across Generations

Happy National Financial Awareness Day! At America’s Credit Union, we believe that financial literacy is the cornerstone of a secure and prosperous future. Today, we’re celebrating by sharing tailored financial tips for every generation. Whether you’re a Gen Z just starting your financial journey, a Millennial navigating the complexities of adulthood, a Gen X planning for retirement, or a Baby Boomer enjoying retirement, we’ve got you covered.

Gen Z (Born 1997-2012): Building a Strong Foundation

For Gen Z, financial awareness starts with education and smart habits. Here are some tips to get you started:

1. Start Saving Early: Even small amounts can grow significantly over time thanks to compound interest. The Performance Saver from ACU is a great tool to start building your savings now.
2. Budget Wisely: Use budgeting apps to track your spending and ensure you’re living within your means.
3. Understand Credit: Learn about credit scores and how to build good credit by paying bills on time and keeping credit card balances low.

Millennials (Born 1981-1996): Navigating Financial Milestones

Millennials are often juggling multiple financial responsibilities, from student loans to homeownership. Here’s how to stay on top:

1. Manage Debt: Prioritize paying off high-interest debt and consider refinancing options for student loans.
2. Invest for the Future: Take advantage of employer-sponsored retirement plans and consider additional investment options like EasyVest or EasyCoin, available within ACU’s Online Banking.
3. Emergency Fund: Aim to save 3-6 months’ worth of expenses to cover unexpected costs.

Gen X (Born 1965-1980): Preparing for Retirement

Gen X is in the prime of their careers and starting to think seriously about retirement. Here are some strategies:

1. Maximize Retirement Contributions: Make the most of 401(k) or IRA contributions, especially if your employer offers matching.
2. Diversify Investments: Ensure your portfolio is well-diversified to manage risk. Now is a great time to speak with Justin Deutsch – VP of Financial Services and Registered Representative of Cetera*.
3. Plan for Healthcare: Consider long-term care insurance and other healthcare costs in your retirement planning.

Baby Boomers (Born 1946-1964): Enjoying Retirement

Baby Boomers are often enjoying the fruits of their labor in retirement. Here are some tips to ensure a comfortable and secure retirement:

1. Manage Withdrawals: Plan your withdrawals from retirement accounts to ensure your savings last throughout your retirement. Did you know ACU offers IRA Share Certificates? With ACU, you have the choice of an IRA Savings or an IRA Share Certificate. In addition, we offer both Traditional and Roth options.
2. Stay Informed: Keep up with changes in Social Security and Medicare to maximize your benefits.
3. Estate Planning: Ensure your estate plan is up to date, including wills, trusts, and beneficiary designations.

No matter your age, financial awareness is key to achieving your goals. At America’s Credit Union, we’re here to support you every step of the way. Contact us to learn more about how we can help you on your financial journey.

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*Securities and advisory services offered through Cetera Advisor Networks LLC, Member FINRA/SIPC a Broker/Dealer and a Registered Investment Advisor. Cetera Advisor Networks and America’s Credit Union are not affiliated companies • Not NCUSIF insured •No Credit Union Guarantee • Not a deposit • May lose value • Not insured by any federal government agency.