• Home
  • Mobile Banking
  • Personal
    • Certificates
    • Checking
    • Savings
    • Additional Services
    • Credit, Debit, ATM Cards
    • Loans
    • Switch Kit
    • Online Account Opening
  • Business
    • Cash Management
    • Business Checking
    • Loans
  • Mortgage
  • Agriculture
    • Real Estate Banking
    • Loans
  • About Us
    • Giving Back
    • Locations & Hours
    • Careers
    • Contact
  • Local Events
  • Home
  • Privacy Policy
  • Contact Us
  • Blog
  • Site Map
Citizens First Bank Logo Log In Click for contact info
Open an AccountOpen an AccountClick for Mobile bankingMobile Banking Click for online banking Online Banking Click for contact info Contact Us
Citizens First Bank Logo
  • Personal
    • Certificates
    • Checking
    • Savings
    • Additional Services
    • Credit, Debit, ATM Cards
    • Loans
    • Switch Kit
    • Online Account Opening
  • Business
    • Cash Management
    • Business Checking
    • Loans
  • Mortgage
  • Agriculture
    • Real Estate Banking
    • Loans
  • About Us
    • Giving Back
    • Locations & Hours
    • Careers
    • Contact
  • Local Events
Citizens First Bank Logo

You are now leaving Citizens First Bank's website and are going to a website that is not operated by the bank. We are not responsible for the content or availability of linked sites.

Citizens First Bank offers links to other third party websites that may be of interest to our website visitors. The links provided in our website are provided solely for your convenience and may assist you in locating other useful information on the internet. When you click on these links you will leave the Citizens First Bank website and will be redirected to another site.

These sites are not under the control of Citizens First Bank. Citizens First Bank is not responsible for the content of linked third party websites. We are not an agent for these third parties nor do we endorse or guarantee their products. We make no representation or warranty regarding the accuracy of the information contained in the linked sites. We suggest that you always verify the information obtained from linked websites before acting upon this information. Also, please be aware that the security and privacy policies on these sites may be different than Citizens First Bank policies, so please read third party privacy and security policies closely. If you have any questions or concerns about the products and services offered on linked third party websites, please contact the third party directly.

Proceed
Home Blog Start Investing Today for the Tomorrow You Want
Single Post Featured Image

September 2, 2020

Start Investing Today for the Tomorrow You Want

When it comes to investing for your retirement, waiting to start can be costly.

Deciding when and how to start investing can be difficult. How does it work? What type of investment is best for me? How much should I invest? Can I afford to invest more? Navigating these questions and getting started can be stressful for even the most financially savvy among us. Learn some best practices for getting a jumpstart on investing now to give your money the most time to grow.

Prepare yourself.

Before you start investing, you should consider the overall health and stability of your financial situation. We recommend that you have an emergency savings fund. Start out with a goal of $500 for emergency expenses, then over time grow it so that you can cover three to six months’ worth of expenses. Secondly, if you have any high-interest credit card or other debt, it’s a good idea to pay that down before beginning to invest.

Get started.

The best place to start is with your employer. If they offer an investment account like a 401(k) or an IRA, many employers will also offer to match contributions to a certain percentage. This means you’re essentially getting free money! If your employer offers a matching program, try to contribute enough to collect all of it. A good long-term goal is to invest or save 15% of your income for retirement. If that’s more than you can afford now, start with what you can and work your way up to that rate by raising your contribution each year. If your employer doesn’t offer an investment opportunity, there are other options. IRAs, Roth IRAs, index funds, and mutual funds are all available for investors.  Make an appointment to speak with a CFB Personal Banker at your local branch to discuss what type of retirement account might be right for you.

Avoid these.

With new apps and easy ways to start investing in individual stocks, real estate or other alternative assets, it’s a good idea for your first investments to be a bit more diversified. This will allow you to gain comfort with the investment process and learn what risks are worth the possible rewards. If you’re ready to move beyond a basic 401(k), IRA, or other investment account, drop by your local branch to learn about building an investment portfolio.

Focus on the future.

Time is money—the more time you allow your money to grow, the more you’ll likely have when you take it out. Saving and investing are important pieces of your financial planning strategy. Your local CFB branch is happy to help you set achievable financial goals and help you decide what types of accounts and investments can help you reach them.

Starting to invest doesn’t have to be as stressful or difficult as it can seem. Don’t let being scared of making the wrong move stop you from taking steps to reach your financial goals. Steady investments can yield big, long-term results. Unsure about investing or want to learn more? Stop by your local branch to discuss options.

Facebook0
Other posts you may like

6 Ways to Save on Date Night

A memorable and fun date night doesn’t need to break the bank! Whether you’re getting to know a new potential match, or are in an established relationship, dates play an important role in making connections. While an elaborate night out can be an exciting occasion, there are many other date night options that won’t break […]

Other posts you may like

How to Protect Yourself from Fraud

Follow these steps to avoid and prevent financial fraud. Discovering fraudulent activity on your account can be a frustrating experience. While you can’t always stop fraud from occurring, there are steps you can take to minimize it. Here are some helpful tips to help protect yourself from financial fraud: Stay alert while online. When you’re […]

Recent Article


6 Ways to Save on Date Night

February 1, 2023

Recent Article Featured Image

You May Also Like


How to Protect Yourself from Fraud

January 25, 2023

Will Your Retirement Savings Be Enough?

January 18, 2023

5 Common Investing Mistakes to Avoid

January 11, 2023

3 New Year’s Money Resolutions

January 4, 2023

  • Home
  • Privacy Policy
  • Contact Us
  • Blog
  • Site Map

©2023 Citizens First Bank. Equal Opportunity Employer. Member FDIC. Equal Housing Lender.

FDIC logo