Retirement & Financial Planning

What does your future look like? Nothing is 100% predictable. But you do know there will be expenses ahead  - and maybe big ones. New houses and new cars. College education, wedding celebrations and big vacations. Even major medical bills.

When should you start planning for this? Yesterday. What if you were too busy getting a degree, launching a career and starting a family - is it too late? No, of course not.

Wherever you are in life, it's a good idea to start thinking about what lies ahead. United Bank Wealth Management Advisors will work to understand your financial goals and then show you real-world ways to reach them.  We use cutting-edge software to take a deep dive into where your money is coming from and where it’s going. We may recommend stocks, land, 401(k), IRAs, CDs, and more to help you accumulate the assets you need.

Maybe you want an active retirement - adventure, travel, or a small business running out of your home. Or perhaps you envision a relaxed retirement - front porches, friends, and good times with the grandkids. In either case, you'll want a financially comfortable retirement.

How much money is that going to take? Where is it going to come from? You may have a bit of savings, an employer-sponsored 401(k) Plan, an Individual Retirement Account or two, maybe even a pension. And then there's Social Security. Is that going to be enough?

Saving for retirement is a long journey. United Bank Wealth Management advisors can make sure you're on the right path. We can answer your questions, help calculate future expenses, and explain asset-building strategies that you may not have considered. See our Retirement Plan calculator to get a more accurate view of your projected retirement finances.

Time waits for no one. But the next chapter of your life can be the best one yet. Whatever you dream about doing, you'll want enough money to enjoy every moment.

It's possible that there's no government program that is relied on more but understood less than Social Security. How do they determine the amount you're going to get? When can you start collecting? Is it better to claim benefits at age 62, 70 or somewhere in between?

Some basics: For many people, Social Security represents the bulk of retirement income. The government's not just giving you the money. You pay Social Security taxes every year on your wages, with that money going to current beneficiaries. When you ultimately retire, your monthly benefits come from the current workforce. The amount depends - among other things - on your salary from your top 35 earning years.

As you can see, it's complicated. United Bank Wealth Management Advisors can help you dig into the details and see where things actually stand for you. 

Online tools on the Social Security Administration’s website can help you factor these hard-earned benefits into your retirement picture. You can also use United Bank’s Social Security and Retirement Plan calculators to get a more accurate view of your retirement finances.

College costs are astronomical. There's really no debating that.

In 1980, the average yearly tuition at a four-year school was just north of $10,000. Forty years later, it was closing in on $30,000. And that's not including room and board and other fees that have driven yearly costs at some private institutions to more than $70,000 a year.

So when should you start saving for college, when your child is in kindergarten? Probably before that. But if you didn't, don't despair. At United Bank Wealth Management, we can talk to you about effective strategies that include tax-advantaged 529 Plans, Coverdell Education Savings Accounts and more.

Whether the scholar in your family is still learning the ABCs or starting to think about the SATs, our advisors are ready to help you invest in their future.

Most people don't like talking about taxes. And no one enjoys paying them.

By discussing your taxes with United Bank Wealth Management Advisors, you and your heirs may end up paying less. As you approach the end of your career, it's vital to have an effective strategy that allows you to keep as much of your savings and income as possible. This includes having tax-advantaged accounts such as 401(k)s and IRAs.

There's more to it at that. To name just a few examples, our advisors work with tax experts to help business owners, people with trusts, and those with highly-appreciated assets retain and pass on more of what they have earned.