Retirement marks the beginning of a new chapter you've spent years preparing for. Even with careful planning, it's natural to have questions. Will your retirement savings last? When should you claim Social Security? How can you prepare for healthcare costs or manage your money on a fixed income?
The good news is that you don't need a complicated financial plan to feel more secure about retirement. With a clear plan, reliable information, and people you can turn to for guidance, you can feel more prepared for whatever comes next.
At Golden 1, we're here to help.
Retirement resources and support from Golden 1
Golden 1 helps members through:
- Personalized financial coaching
- Budgeting and debt-management guidance
- Golden Prestige banking benefits for members age 62 and older
- Retirement planning resources and educational tools
- Access to the Silvur Retirement Simplified platform
From one-on-one guidance to everyday banking benefits, each of these resources is designed to support your financial well-being. Combined, they can help you approach retirement with even more clarity, confidence, and peace of mind.
Five ways to build confidence in retirement
While every retirement journey is unique, these five steps can help you prepare for the future:
- Create a retirement spending plan
- Reduce high-interest debt
- Understand Social Security and Medicare options
- Prepare for healthcare expenses
- Use trusted resources and guidance
One of the most valuable retirement resources is personalized guidance from someone who understands your unique situation.
Financial coaching for real retirement challenges
Retirement doesn't come with a one-size-fits-all financial plan. Golden 1's financial coaches work with members on topics such as budgeting, debt management, retirement income, and healthcare expenses.
Golden 1 President and CEO Donna Bland recently shared the story of a member approaching retirement who wasn't sure where to turn after high-interest debt became difficult to manage.
After working with a Golden 1 financial coach, the member was able to:
- Complete a comprehensive financial review
- Improve her credit score
- Consolidate debt with a personal loan
- Adjust her budget and save approximately $400 each month
Today, she has more control over her finances and less day-to-day stress.
"Stories like this reflect the lasting impact of personalized support and financial education. The most rewarding outcomes for Golden 1 are improving member experiences." – Donna Bland
Donna’s insights were featured in a CreditUnions.com article about how credit unions support older adults through retirement and other life transitions.
Make an appointment for one-on-one financial coaching online or by calling us at 1-877-465-3361.
Golden Prestige: Banking Benefits Designed for Members Age 62+
Planning for the future is important, but so is having banking services that make managing your money easier today.
If you're age 62 or older, Golden Prestige offers banking benefits designed to help make everyday banking a little easier and reduce common banking costs and fees.
Available at no additional cost with an eligible Golden 1 checking account,* Golden Prestige includes:
- No monthly maintenance fees*
- No per-check charges
- Two boxes of free custom image checks each year
- Up to 10 free cashier's checks per month
- Free notary services
- Free domestic wire transfers**
These benefits have helped Golden 1 earn recognition on MONEY.com's "Best Banks and Credit Unions for Seniors" list for three consecutive years.
And because retirement is often a shared journey, eligible joint account holders can enjoy Golden Prestige benefits once the primary account holder enrolls.
Learn more about Golden Prestige.
Retirement planning resources through Silvur
While banking benefits like Golden Prestige can help simplify everyday financial management, planning for the future can require additional tools and resources. Retirement involves important decisions about Social Security, Medicare, healthcare costs, taxes, and income planning.
That's why Golden 1 partners with Silvur Retirement Simplified, a retirement planning app designed to help make those decisions easier and provide practical financial planning for retirees.
With Silvur, you can:
- Estimate how long your retirement savings may last
- Explore different Social Security claiming strategies
- Compare Medicare-related scenarios
- Access more than 500 educational lessons on topics like retirement taxes, cost of living, and more
Whether you’re just starting to plan or already retired, Silvur helps you make informed decisions based on where you live, when you retire, and how you want to spend your golden years. Sign up at golden1.silvur.com to get started.
Retirement planning FAQs
Many members have questions about the financial side of retirement. Here are answers to some of the most common ones.
What is the most important part of retirement planning?
One of the most important steps is creating a retirement income plan that accounts for your expenses, income sources, healthcare costs, and savings goals.
How can I manage money on a fixed income?
Start with a realistic retirement budget, prioritize essential expenses, review your spending regularly, and look for opportunities to reduce unnecessary costs and fees.
Should I pay off debt before retirement?
Many financial professionals recommend reducing high-interest debt before retirement when possible. Doing so can provide greater flexibility and reduce financial stress during retirement.
When should I start planning for retirement?
The earlier you start, the more options you may have. That said, retirement planning can be valuable whether you're years away from retirement or already retired.
What expenses do retirees often underestimate?
Healthcare costs, home maintenance, inflation, and unexpected emergencies are among the most overlooked retirement expenses.
What banking services are most useful to retirees?
Many retirees appreciate reduced-fee checking accounts, financial coaching, notary services, and retirement educational tools.
How can a credit union help retirees?
Credit unions can provide personalized guidance, member-focused service, educational resources, and products designed to support your long-term financial well-being.
How can I maximize my Social Security benefits?
The age at which you begin claiming Social Security (your “claiming age”) can affect the amount you receive, and the right strategy depends on your individual circumstances. Taking time to evaluate these factors can help you choose an approach that supports your long-term financial goals:
- Explore your options
- Understand how claiming age affects benefits
- Consider how Social Security fits into your overall retirement income strategy
Your retirement, your way
After years of working, saving, and planning, retirement is a chance to focus more on what matters most to you.
Whether you're preparing for retirement, recently retired, or looking for additional support, Golden 1 is here with personalized financial coaching, Golden Prestige benefits, Silvur retirement planning tools, and ongoing educational resources. We’re committed to helping you approach retirement with more confidence and fewer unanswered questions.
Ready to get started?
Contact Golden 1 or visit your nearest branch to learn more.
Insured by NCUA
*Eligible checking accounts include Free Checking, Premium Checking, and MarketRate CheckingSM. Premium Checking and MarketRate Checking require a $25 minimum opening deposit.
**Fee(s) required for international wires.
