Blog

With Planning, the Money Will Take Care of Itself

7/24/2017 by Illinois National Bank

By Rick Schramm
Senior Vice President, Commercial Lending

A friend shared a story with me about a conversation he had with his late father. My friend was debating whether to spend money to take a possible trip. His dad responded, “Take the trip – at a certain point, the money takes care of itself.”

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Do You Need $1 Million for Retirement?

7/17/2017 by Illinois National Bank

By Rick Schramm
Senior Vice President, Commercial Lending, NMLS #662906

Reality is, you will likely need the $1 million portfolio. In his book, You Can Retire Sooner Than You Think, Wes Moss outlines the $1,000 per Month Rule. The rule is this: For every $1,000 per month you want to have at your disposal in retirement, you need to invest $240,000. These investments will supplement Social Security and any pension or part-time work in retirement.

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You Could Still Lower Your Tax Payment

2/22/2016 by Illinois National Bank

By: Chris Parks
Senior Vice President

If you think it’s too late to affect the amount you’ll pay in 2015 taxes, you could be wrong! You may be able to lower your tax burden and pay yourself at the same time by contributing to a traditional IRA (Individual Retirement Account). You have until April 18 to open an account or add to your existing IRA.

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Saving for Retirement Can Start Tomorrow, Right?

1/9/2015 by Illinois National Bank

By Dee Jason AVP, Riverton and Mt. Pulaski Branch Manager, NMLS #662874

With mortgages, car loans, social outings and other expenses, it’s easy to say “later” when it comes to contributing toward a retirement fund. However, the earlier you start, the more you will accumulate, which means there is no better time to start contributing to your retirement savings than right now, with these simple steps.

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