3 Reasons you should have an IRA (Individual Retirement Account)
Do you have an IRA account? Well, consider getting one soon. An IRA can come in the form of traditional IRA, Roth IRA or Rollover IRA. Financial institutions set up these accounts to encourage individuals to save for their retirement effectively on a tax-free basis. Regardless of the type of IRA you choose, you can rest assured that your money will potentially grow faster than it would in other taxable accounts.
Why should I have an IRA (Individual Retirement Account)?
1. Tax advantages
Having an IRA account can have so many advantages for those planning their retirement. Making contributions to a traditional IRA ensures that your money grows tax-deferred until the day you withdraw it after retirement. Alternatively, your savings can experience tax-free growth if you contribute to your Roth IRA devotedly. You have every reason to smile knowing that no one will tax whatever growth your investment attracts. Saving through IRAs is, without doubt, the most convenient way of generating tax-free income for your heirs. Interestingly; even in your death, your beneficiaries will not experience any taxation complications after inheriting your proceeds.
2. IRA account holders enjoy penalty-free withdrawals of their contributions
Another incredible reason to have an IRA is that holders enjoy Penalty-free withdrawals of contributions even before their retirement particularly if they contribute to a Roth IRA. Nevertheless, Traditional IRA/401(K) account holders are required to pay a penalty of up to 10% if they decide to withdraw their contributions before they are 591/2 years of age. Roth IRA account holders can withdraw whatever they’ve actually contributed and sell their investments (accrued market returns) penalty-free provided they are not yet 59 ½.
3. Flexible savings or contributions
Enjoy the flexibility of distributions by investing in a Roth IRA account. Apart from attracting zero-penalties or taxes, Roth IRA account holders can make their contributions at their own convenience provided they don’t default. Young people should grab every available opportunity to invest their money in IRAs.Why? Well, as a young adult, you are allowed to claim your money back after acquiring a reasonable rate of return on your investment. On top of that, you can manage to pay yourself and contribute to your retirement fund at the same time without unnecessary complications.
The bottom-line: There are a TON of reasons to own an IRA. All you have to do is contact MACCU, make your contributions, and see your investment returns grow. Do the right thing today to enjoy your tomorrow after retirement.
Top 5 Vacation ideas in New England
America’s birthplace, New England is a famous destination location for people who are looking for an unforgettable experience. The scenery is quite diverse and the regions rather attractive, they will form the perfect backdrop on holiday pictures. Visit New England any time of the year and experience American culture and history. It does not end there however because in the midst of tradition and ancient hints of how the great region came to be, visitors can still enjoy natural beauty of the destination which includes the gorgeous coastline. Are you thinking of visiting New England in your next vacation? You are in luck because there are a couple of best destinations picked out just for you.
The search is definitely over so check out this list of the top 5 vacation ideas in New England for adequate preparation;
- Martha’s Vineyard in Massachusetts
This is one of the islands that lie off the coast of MA. A quintessential getaway, the destination is home to sandy beaches that surround charming little towns. Best picked as a romantic getaway, Martha’s Vineyard sees many couples visiting for their honeymoon. It is also ideal for the family vacation because there is so much to see and enjoy. Want to know who else finds this place worth their time? The president and his family!
- White Mountains in New Hampshire
A place where the landscape is a blend of lakes and scenic wilderness, White Mountains is a vacation spot that will make you forget about the hustle of city life. It is no surprise that the White Mountains have for a long time been a popular destination for those looking for a unique holiday experience. Enjoy group activities such as hiking and one-on0nes like horseback riding and golf. There is clearly never a dull day when you are at White Mountains.
- Camden in Maine
Everything you can ever think of as an activity to do when out on a vacation will be found in Camden. If you fancy fine dining then you will love the experience that comes with eating fresh seafood obtained from the Atlantic right there. The rest of the day can be spent exploring the Penobscot bay islands and hiking.
- Newport in Rhode Island
This is one of the most photographed places in New England. An exciting destination characterized by mansions overlooking the sea, Newport is a home away from home. You get to enjoy the freedom associated with living in your own house but enjoying the view of the sea all the time.
- Nantucket in Massachusetts
One of the islands in the Atlantic, this is a population vacation destination for people who appreciate old-fashioned charm and history. While you are there, tour the lighthouses, beautiful coastline, and fishing villages that have been in existence for centuries. The wildlife refuge on the island is unique and great at learning about the various species in this part of the world.
The prominence of credit cards as the most preferred global financial services system remains undisputed. Credit cards are not only tempting but convenient and rewarding provided you’re a self-disciplined shopper. Whilst most people enjoy the convenience of transacting through credit cards, some of us can’t understand why it’s important to have one in the first place.
Let’s examine 3 reasons why you need a credit card.
- Zero liability protection
Most Credit cards holders have fallen prey to fraud, phishing scams or skimming at some point. The good news is that all major credit card issuers know that hackers and fraudsters can take advantage of cardholders for selfish gains. To protect cardholders from fraudulent charges, and unauthorized purchases, they offer zero liability protection. This policy simply means cardholders are exempted from taking responsibility for any unlawful purchase made using their credit cards. For your own convenience, it is important to report to your credit card issuer immediately in case your credit card is stolen or lost for your own convenience.
- Build a strong credit history
Credit cards can help you build a strong credit history if used properly. We all know that bad credit history can be a significant hindrance to our dreams. For this simple reason, we need to be on the good books with creditors. Maintaining a good credit history unlocks the door to all your dreams. The quickest way to build your credibility through your credit card is by using it frequently and responsibly at all times. Develop a habit of paying your debts on time and in full, only borrow what you can pay back efficiently and conveniently. Remember, a good credit score is the key to achieving your dream job, home, sports car or any other property. Use your credit card regularly and wisely to build, rebuild and even maintain a tremendous credit score.
- Safe and convenient
Credit cards remain the safest and most convenient payment options in e-commerce. Today’s consumers have a preference for online shopping. In such cases, only credit cards can be used to make safe payments. Unlike cash which is irretrievable, any fraudulent credit card transactions can be canceled quickly after detection. As a credit card holder, it is wise to conduct business with trustworthy, reputable and genuine websites for your own good. In addition, credit cards work in all currencies making them more convenient for shoppers. While some credit cards charge currency conversion fees depending on specific countries or stores, most credit card issuers don’t charge anything for purchases made in foreign countries. Lastly, most modern businesses are starting to decline other payment options for safety purpose thus making credit cards the safest and most convenient alternatives.
Winter is a fabulous time to be in Vermont. Known for sizzling ski trails, including 30 cross-country touring centers, 20 alpine ski resorts, and nearly 3,000 hectares of mountainous terrain, the Green Mountain State is a slice of heaven for skiers. Even if you’re not a fan of skiing, there are tons of fantastic things to do and see in Vermont during winter.
From snowshoeing to savoring horseradish cheddar and everything in between, here are top things to do and see in Vermont that won’t break the bank:
Snowshoeing is ideal for the whole family. It’s a fabulous (and cost-effective) way to venture into Vermont’s snowy paradise, including fantastic stretches of forest and fields. Strap on your snow boots and enjoy tantalizing trails such as Big Bear Loop or Nebraska Notch. Either way, you’ll love the fresh alpine air.
Check Out Local Restaurants
Vermont is teeming with exotic and wonderful eats. From savory treats to mouth-watering burgers, Vermont is home to the most beautiful restaurants that won’t put a huge dent in your bank account.
Fishing in the fantastic lakes of Vermont is a summer treat you’ll never forget. But the fun doesn’t stop when the snow falls, and temperatures dip. Ice fishing is an ecstatic way to enjoy Vermont’s alluring outdoors during winter. There’s an array of smaller bodies of water and large ones like Lake Champlain.
Vermont boasts more than 5,000 miles of pure snowmobiling trails. These award-winning trails are known for breathtaking scenery as well as pristine maintenance. Riding with friends or family, snowmobiling in Vermont will simply knock your socks off. And the best part: it’ll only set you back a few hundred bucks.
Skiing and Snowboarding
Whether you’re on a tight budget or not, skiing in Vermont is a must-do. After all, skiing is what makes the state a fabulous winter destination. Enjoy a chairlift ride on Mt. Mansfield or a ski adventure at the ski tow in Woodstock farm; there’s something for everyone.
Visit a Country Store
Enjoy sizzling treats and an array of handmade toys and crafts. Vermont’s country stores will make your trip worthwhile.
Visit a Museum
Vermont is home to a plethora of amazing museums. You’ll love the Museum of Everyday Life. It’s quite fascinating and will make your lazy afternoon lively.
Enjoy a live show There are several live theater and music concerts year-round in Vermont.
Take your Vermont holiday to the next level by going sledding. It’s an elegant and inexpensive way to enjoy winter months in Vermont.
After all the skiing, snowshoeing, ice skating, and whatnot, pamper yourself with an excellent spa treatment.
There you are – fabulous things to do in Vermont on a budget!
Beginning November 1st through January 2, stop into one of our 5 locations with nonperishable food items. We will be collecting through the holidays and will drop off frequently to the Vermont Foodbank.
Don’t want to bring in food items but still want to donate? We can accept cash donations too! For every $30 raised, the VT Foodbank provides 50 meals for children, families, the elderly and people right in your community. Donate today, and team up with us to help the VT FoodBank!