LIFE STAGES

CHANGING JOBS

Whether it's something you're planning, or happens unexpectedly, changing jobs means making some important financial decisions, for both your short and long-term needs.

To begin, you'll want to make sure your life and health are properly insured. Then, if you have a distribution from your former retirement plan, you'll want to make the right decision about accepting a lump sum or reinvesting. If you have already taken your distribution from your employer-sponsored retirement plan, you have many options for reinvesting. Two to consider are: a Rollover IRA or a new employer's plan. Did you know that, if you decide not to reinvest the money for retirement, or miss the 60-day reinvestment deadline, you could lose up to 50% of your money in taxes and penalties?

We can also objectively evaluate a host of other, important financial issues facing you. We'll help determine if your current life insurance coverage is adequate. Show how your IRA may grow earning a set rate of interest. In conjunction with your tax advisor, we can help you determine the best strategy for your lump sum distribution.

At CommunityAmerica, we regularly help people start new jobs without the extra burden of unnecessary financial concerns. With the right financial plan, you can focus on your new job, instead of worrying about your money.

Have confidence in your CFS* Financial Advisor at CommunityAmerica Credit Union to help you deal with the changes you face in life. There's a saying that the only constant in life is change. But one thing that won't change is the commitment of your CFS* Financial Advisor. We're here to help answer your questions, and make sure you're aware of all the options available to you.

An important step is to start planning today by contacting a CommunityAmerica Financial Advisor. Our CFS* Financial Advisors can help you take the work out of your new financial situation.

How? Through our CFS* Financial Advisors –– dedicated career professionals, registered through CUSO Financial Services, LP, our broker dealer, carefully selected and trained to serve credit union members.

Most of all, you can always have confidence in your CFS* Financial Advisor to act in your best interest –– which means you can expect our advice to be objective, fair and honest.

We invite you to call your CFS* Financial Advisor today, so we can begin working with you to develop the right plan for your retirement.

Divorce is another life change that can greatly affect your financial planning.
Going through a divorce can be devastating –– both emotionally and financially. If you are preparing for a divorce or have recently completed the process, you'll be forced to make many crucial, financial decisions.

We're here to help you put together the pieces of your financial life.

For example, many people receive investments as part of a divorce settlement. We can help you coordinate investments and eliminate unnecessary paperwork. We'll advise you on how to build an emergency fund, create a new financial plan for your future, evaluate your retirement plans and update beneficiaries on any investments or accounts.

If you were claimed as a dependent on your spouse's health insurance plan, you'll need to check and see if you are still covered or if you need to find your own plan. In addition, all aspects of your tax claims may change, especially if you have full custody of your children*. If you haven't purchased life insurance, you'll want to consider it, especially, if you have full custody of your children. You'll also want to consider purchasing long-term care insurance to help cover any future long-term illness.

There's also estate planning to consider after a divorce. You probably should rewrite your will or, if you did not have one previously, create one. It's never too early to be prepared.

The good news is with the right financial plan you can emerge from a divorce with full control of your financial life. Investing with a plan makes a difference.

*Investments and investment advisory services offered through CUSO Financial Services, L.P. (CFS), an independent broker-dealer and SEC Registered Investment Advisor are Not NCUA/NCUSIF insured, are Not credit union guaranteed and May lose value. CommunityAmerica Credit Union is affiliated with CFS. Financial Advisors are employees of CommunityAmerica Credit Union and registered through CFS. (Member FINRA/SIPC)
**For specific tax advice, please consult a qualified tax professional.
***Figures quoted are for illustrative purposes only and are not necessarily indicative of past or future results for any specific investment. They may or may not include any consideration of the time value of money, inflation, fluctuation in principal, or in many instances, taxes.