Heading Off Financial Regret
Almost everyone has a financial regret, whether it’s not having bought Apple stock or having waited too long to start socking away retirement money.
Here are some common money-related moves people wish they could go back and do over and ways to address mistakes, along with how Liberty Bank can help you reach your goals.
| Missed opportunity | Consequences | How Liberty Bank can help |
|---|---|---|
| Not taking full advantage of 401Ks, IRAs, and other retirement savings opportunities. | Possible retirement shortfall. | Open an IRA and save money for your retirement each month. If you’re over 50, make catch-up contributions. Learn more about IRAs at libertybank.com/ira. |
| Not buying a condo for a rock-bottom price 30 years ago. | Money wasted on rent; lost appreciation during real estate run-ups; not living mortgagefree-today. | Competitive mortgage rates; speedy approvals; buyer counseling. Call a Liberty Bank Loan Officer today at 847.986.8881. |
| Not teaching children smart money management. | Children who don’t understand the financial basics and the importance and value of regular savings. | You can start teaching kids about money as early as age 3. For some how-tos, see Liberty Bank’s Kids & Money blog (libertybank.com/ teaching-kids-financial-literacy). |
| Not living within your means and overspending. | Too much debt, too little savings, and an inability to find money to save and invest. | Pay Yourself First Automated Savings account lets you preauthorize electronic transfers. Minimum of $25 to open and maintain. For more details, visit libertybank.com/pay-yourself-firstsavings- account. |
| Not paying attention to small daily costs and wasting money on junk fees, ATM charges, and so forth. | Seemingly small fees for things like checking accounts and out-of-network ATMS add up to a lot of wasted money over a long period of time. | Surcharge-free access to over 75,000 ATMs; 50-Star Checking, a no-minimum-balance checking account, for customers 50 and older. |
| Not buying a smaller, more affordable house. | Feeling strapped by the mortgage payments and taxes and having little leftover to invest. | Mortgage refinancing; competitive rates; information regarding home buyer counseling. Call a Liberty Bank Loan Officer today at 847.986.8881. |
