KeyPoint Credit Union Blog


From CEO, Brad Canfield

Consider IRAs to Plan Your Financial Future

Tax season is in full swing and that means conversations with an accountant or financial advisor about limiting your tax liabilities next year, taking a look at your financial plan, and doing all you can to improve your financial situation.
An Individual Retirement Account (IRA) can play an important role, whether it’s structured to serve as your sole source of retirement income or to augment an employer-sponsored 401(k). If you’re an H-1B engineer in the Silicon Valley, you can use an IRA to balance your company stock options and additional foreign investments or savings accounts. As an engineer who’s new to the country, an IRA is part of an effective strategy to achieve an American lifestyle in the Silicon Valley.
Before we get too deep into this, I have to tell you that this information shouldn’t be taken as tax advice. Your tax advisor can help with any specific questions.

Retirement Planning Through KeyPoint Credit Union

Are you looking for a trustworthy financial advisor in the Silicon Valley? Well you’re in luck. One of KeyPoint Credit Union’s investment representatives is ready to meet with you for a complimentary, no-obligation discussion about different IRA choices that are available to you. 

The money in your IRA can be invested in a variety of stocks, bonds and other holdings, all of which can be adjusted depending on how much risk you’re willing to take and the financial goals you’re trying to reach. Keep in mind that IRAs aren’t federally insured and aren’t guaranteed by KeyPoint Credit Union or any other third party. There’s risk involved with the investment strategy, which emphasizes the importance of seeking assistance from our investment representatives if you unfamiliar with IRAs.

Different IRAs for Different Financial Needs

If you want to research IRA options before you come in to see us, Money magazine provides a good explanation of several types of IRAs. The most popular are Roth IRAs and Traditional IRAs, both of which have discrete tax advantages and specific rules about withdrawing money. Which one is better? It all depends on your personal finance and employment situations now and in the future.
People often add IRAs as a valuable component to their overall portfolio, which can include your Silicon Valley/Peninsula Valley real estate, savings accounts, life insurance, 401(k) and other assets. Contact us today and let’s set up a time to discuss IRAs and the benefits they hold for you and your family. We look forward to seeing you!


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