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Retirement

Banzai!

First Southern National Bank has partnered with Banzai to bring you clear, in-depth lessons to help you dive into the financial topics you care most about.

How to save money on summer vacation

2024-01-12T18:08:56+00:00May 21st, 2023|

How to save money on summer vacation Summer is a time of fun and adventure, but it can also be a time of significant expense, especially when it comes to planning a family vacation. The good news is that with a little bit of planning and creativity, it is possible to enjoy a

Retirement Planning

2024-01-12T18:09:43+00:00May 8th, 2023|

How to ensure you're on track for a comfortable future. Retirement is a phase of life that many look forward to. It's a time when you can relax, travel, pursue hobbies, or spend more time with loved ones without the burden of a full-time job. However, you must have a solid plan to

Leaving a Job with a 401(K)

2024-01-02T21:45:21+00:00October 30th, 2020|

When you leave a job with a 401(k), you’ll generally have four options for what to do with the money. Each has its own benefits and drawbacks, so deciding what’s right for you will depend on your situation and preferences. Leave the Money in Your Old Account If you have more than $5,000 in

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Trusts

2020-08-10T18:03:54+00:00August 6th, 2020|

Setting up a trust is a way to ensure that your assets are handled the way you want them to be after you pass away. Trusts A trust, similar to a will, is a way to designate what happens to a person’s belongings after they pass away. How a Trust Works When

  • Elderly retired couple reading their social media news on a laptop computer in a fresh white kitchen as they enjoy a relaxing retirement

Meet Your 401(k)

2024-01-02T21:46:27+00:00July 1st, 2020|

If you’re lucky enough to be introduced to a 401(k), you’ll make a friend for life. Even if you’re just starting your first real job—actually, especially if you’re just starting your first real job—it’s time to start thinking about retiring. That’s not a comment on how motivated or unmotivated you are, or a

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Social Security Basics

2020-07-01T19:50:16+00:00July 1st, 2020|

Since its introduction in 1935, in the wake of the Great Depression, Social Security has evolved from a safety net designed to relieve poverty to the mainstay of a secure retirement. But the role it will play for future generations is less certain. Fewer workers will be putting money into the system in the 21st century while more

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Disability Insurance

2020-07-01T19:09:30+00:00July 1st, 2020|

Even if you feel your job is secure and you're in perfect health now, it's smart to plan for the unexpected; acquired disabilities may be more common than you think. According to the Social Security Administration, there is a three in ten chance of a 20-year-old worker becoming disabled before he or she hits

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Portfolio Building

2020-08-10T18:12:11+00:00July 1st, 2020|

As logical as it might seem to look for the perfect stock, bond, or mutual fund and make it your investment of choice, that’s not the best approach to meeting your financial goals. No single investment, or type of investments, provides a strong return year in and year out. The saving grace is

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Individual Retirement Accounts

2024-01-02T20:46:10+00:00June 30th, 2020|

Individual retirement accounts (IRAs) are tax-deferred, personal retirement plans. You must have earned income to contribute, and you can put money into an IRA whether or not you participate in an employer’s retirement plan. There are two types: the traditional IRAs, to which contributions may be deductible or nondeductible, and the Roth IRA.

Coach: Am I Ready to Retire?

2024-01-02T21:23:13+00:00March 31st, 2020|

Coach: Am I Ready to Retire? HOW IT WORKS Every individual has a different goal for retirement. This Coach guides you through setting a personal retirement goal and predicts your total retirement savings. It then helps you evaluate whether you're on track to meet your goal. To begin the Coach, select "Get Started."

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Critical Retirement Choices

2024-01-12T18:22:32+00:00March 26th, 2020|

You’ll have the answers you need down the road if you ask the right questions now. The idea of retiring isn't new. People who grew too old or too ill stopped working and stayed home long before pensions and Social Security. But as people live longer, the retirement experience takes on a different

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Coach: Retirement Funds

2020-06-30T19:28:56+00:00March 16th, 2020|

Coach: Retirement Funds HOW IT WORKS When you invest in a retirement account, your money will grow until you're ready to retire. But how do you know whether to use a Traditional or Roth retirement account? The Coach session will walk you through both types of accounts and show how your personal retirement savings will be affected

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