The credit union offers tips on investments, including building for retirement and sustainable investing.
PORTLAND, Ore., May 6, 2021—More than a year after the pandemic sent the world into lockdown, workers and retirees remain concerned about the long-term impact of economic shifts on their retirement and investments. A recent report from the Transamerica Center for Retirement Studies finds that one in five U.S. workers are worried about their ability to retire in light of the pandemic—of which only 27 percent are confident in a comfortable retirement. OnPoint Community Credit Union is educating the communities it serves on investment strategies and principles that may guide long-term stability.
“It’s clear the pandemic has shaken people’s confidence in money management and their long-term financial well-being,” said Daniel Bartosz, Financial Advisor, Raymond James Financial Services at OnPoint. “We’re here to provide support and resources to help our members and community understand key investment strategies, so they can make informed financial decisions, build their nest eggs, and look to the future with confidence.”
Below are several important strategies OnPoint recommends to help people with their financial planning needs, even during times of uncertainty.
How to rebuild for retirement
The first step to evaluating your investment strategy is determining if you’re on track to retire at the age you expect while still meeting your lifestyle goals. A retirement calculator can help you determine where you stand. The calculator requires specific inputs to give you accurate feedback, including estimated social security benefits, your current age, retirement age and life expectancy.
If you’re not on track, it may be time to seek help from a local financial advisor. If you currently have investments, a financial advisor will help you adjust your strategy to align with your goals. Strategic changes to your retirement plan may include:
A financial advisor can help you determine which strategies are right for you and provide accountability and guidance as you make changes.
How to pick a financial advisor
Below are five traits you want to look for when evaluating which financial advisor is right for you:
Here are five signs it may be a good time to replace your financial advisor:
Risks to your retirement plan
Rely on your financial advisor to plan for these major drivers of financial uncertainty and insecurity:
How best to handle each of these situations will depend on how close you are to retirement and how far you are from your retirement goal. In each scenario, you have options. Working with a financial advisor can help you determine a course of action.
How to evaluate sustainable investing options
Sustainable investing, also referred to as socially responsible investing, ethical investing, or values-based investing, is an investment sector focusing on companies whose goals positively impact society while refraining from doing harm. They allow you to support social change. Here’s how to get started:
Step One is to determine the company values that are most important to you, like environmentalism or social justice issues.
Step Two is to decide whether you want to invest on your own or by using a financial advisor. The DIY route means you’ll often need to research each specific investment to ensure it upholds your values before adding it to your portfolio. If you choose to work with a financial advisor, they have tools that can help align your retirement goals with your values.
Step Three is to monitor the progress of your investments, either on your own or with the help of your advisor.
Learn more about the financial and retirement planning resources from OnPoint, or request a complimentary consultation.
ABOUT ONPOINT COMMUNITY CREDIT UNION
OnPoint Community Credit Union is the largest credit union in Oregon, serving over 432,000 members and with assets of $8.2 billion. Founded in 1932, OnPoint Community Credit Union's membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler, and Yamhill) and two Washington counties (Skamania and Clark) and their immediate family members. More information is available at www.onpointcu.com or 503-228-7077 or 800-527-3932.
Disclosures
*Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC and are not insured by credit union insurance, the NCUA or any other government agency, are not deposits or obligations of the credit union, are not guaranteed by the credit union, and are subject to risks, including the possible loss of principal. OnPoint Community Credit Union and OnPoint Wealth Management & Investment Services® are not registered broker/dealers and are independent of Raymond James Financial Services, Inc. Raymond James privacy policy. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.
Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.
You can review the background of Raymond James and each OnPoint registered investment professional on FINRA’s BrokerCheck.
Any opinions are those of OnPoint and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected.
Raymond James is not affiliated with and does not endorse the entities mentioned above.
Sustainable/Socially Responsible Investing (SRI) considers qualitative environmental, social and corporate governance, also known as ESG criteria, which may be subjective in nature. There are additional risks associated with Sustainable/Socially Responsible Investing (SRI), including limited diversification and the potential for increased volatility. There is no guarantee that SRI products or strategies will produce returns similar to traditional investments. Because SRI criteria exclude certain securities/products for non-financial reasons, investors may forego some market opportunities available to those who do not use these criteria. Investors should consult their investment professional prior to mak