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I’m Enjoying My Retirement
You’ve Worked Hard—Now, Enjoy Retirement on Your Terms.
Congratulations! You’ve retired from the workforce and are finally benefitting from a lifetime of hard work and financial planning. But, it’s not the time to rest on your laurels quite yet—discover the banking tools, tips, and products you need to enjoy this stage of your life on your own terms.
Some Key Terms You’ll Need to Know
Review the most important terms to know as you explore the best products and services to support you through retirement and beyond.
Social Security
A government-run program that provides financial assistance to eligible individuals, including retired workers, disabled workers, and their families.
Vesting
The entitlement to a present or future asset or benefit, usually referring to an employer-provided benefit such as a retirement account.
eStatement
An electronic version of a bank or credit union statement, which is a summary of an individual's account activity and current balance.
Home Equity
The current market value of a homeowner's property minus any outstanding mortgages or liens on the property.
Individual Retirement Account (IRA)
A type of savings account designed to help individuals save for retirement.
Pension
A regular payment made from one's employer after retirement, based on factors such as length of employment and earnings.
Building a Budget
Retirement is for Relaxing—Not Stressing about Everyday Finances.
You’ve worked hard to finally get to a place where you can say goodbye to full-time work and comfortably retire. However, if you don’t take the time to create (and stick to) a budget, you may find yourself running low on cash a lot sooner than you think. Set yourself up to enjoy your golden years with careful planning, expert guidance, and savings products that stretch every dollar.
Use a Budgeting Calculator to Crunch the Numbers.
For many retirees, the most difficult part of budgeting is figuring out how much you're spending each month, and where it's all going. Our budgeting calculator makes it easy—just plug in your income and expenses, and we'll show you how it all breaks down.
Choose a Savings Account that Does the Work for You.
You’ve spent years working to build your savings—now, it’s time to let those savings work for you. Open a dividend-yielding account with a high APY* (like an MCU Share Certificate Account) and watch as your savings grow over the term of your choosing.
Learn How to Build Your Budget, Step By Step.
Know you need to up your put a budget in place but not sure where to start? Get step-by-step budgeting instructions and learn how to create and track a budget right in your NYMCU Digital Banking dashboard.
Helpful Financial Resources
Set Yourself Up for Financial Success.
Don’t leave anything up to chance as you set plans in motion for a financially secure retirement. By taking advantage of tools and products designed to make the most of your finances, you can set yourself up to take control and enjoy your retirement on your terms.
Save Big on Insurance Coverage.
Get the insurance coverage you need without stretching your finances thin in the process. MCU members enjoy deep discounts on insurance products—including home and auto coverage—through our partners at Trustage®.
Get Ahead of Potential Fraud Attempts.
Stay one step ahead of potential financial scams and protect your legacy from outside threats. Learn what you can do to keep your assets safe, with security tips from the experts at MCU.
Stay on Top of Your Accounts with eStatements.
No need to wait for a mail delivery to take a deeper look at your transactions and account history. Enroll in paperless eStatements (found in your NYMCU Digital Banking dashboard) and access your account statements anytime you like.
BALANCE Financial Fitness Program
Stay on Track with BALANCE Financial Fitness.
Discover financial guidance and expert advice for every life path with BALANCE. Access webinars, tools, articles, and counseling that help you reach financial wellness no matter where you are in life—free to MCU members like you.
Financial Literacy Center
Give Your Financial Knowledge a Boost.
Explore our financial literacy resources—like calculators, helpful articles, and more—to access the knowledge and resources you need to make informed decisions and achieve your retirement goals.
Home Equity Line of Credit
Need Money for Retirement? Tap Into Your Home’s Equity.
Did you know that your current home’s value can be used to help you meet other financial needs or goals? A Home Equity Line of Credit (HELOC) lets you spend as much or as little as you like, replenishing your available cash as you pay down your outstanding balance—and it’s all backed by mortgage payments you’ve already made.
Get Full Financial Support That Offers Peace of Mind.
We’re here to see you through to the finish line. You’ve done the heavy lifting—let our expert team help you choose the products and services you need, so you can sit back and enjoy your retirement.
