Making Retirement Planning Simple
Retirement planning sounds big—but it doesn’t have to be complicated. You don’t need a finance degree or a stack of paperwork to get started. In fact, you might already have tools in place, like a 401(k) through work or access to an IRA you can open in minutes.
This guide breaks down the basics—what each account is, how they work, and what smart steps you can take right now. The best part? With digital tools and support that fit your life, building your future is more accessible than ever.
Start With What You Have
You don’t need a perfect plan—or even a plan at all—to start saving for retirement. Maybe you’re already contributing to a 401(k). Maybe you’ve heard about IRAs but haven’t looked into them. Or, maybe you’re just now starting to think about your future.
That’s okay. The goal isn’t to have everything figured out—it’s to take one step forward.
If you’ve already started saving, even a little, that’s something to build on. If you haven’t, there are tools available that are simple to set up, flexible to manage, and designed to work behind the scenes while you focus on life.
The best plan is the one you actually use. Whether it’s through your employer or through Community Choice, there are ways to start right where you are—with options that are easy to understand and ready when you are.
Your 401(k): Don’t Miss the Match
If your job offers a 401(k), it’s the best place to begin. These plans let you set aside money for retirement automatically with each paycheck. Many employers also offer a match—adding to your savings just for participating.
That match is part of your compensation. Not contributing enough to earn the full match? That’s like saying no to free money. For example, if your company matches 50% of contributions up to 6% of your salary, not taking full advantage could mean leaving thousands behind.
Once enrolled, take a look at your quarterly statements. Two simple things to check:
- Are you contributing enough to get the full match?
- Are your investments diversified?
You might see names like Vanguard, Fidelity, or T. Rowe Price. These are mutual fund providers—companies that offer pre-built “baskets” of investments. Vanguard is known for offering low-fee, long-term funds, including target date funds that adjust over time as you get closer to retirement.
Checking and adjusting your contributions is quick and accessible through most online payroll or benefits platforms, giving you more control with less effort.
Tax season is a great time to take a closer look at your 401(k). When you contribute pre-tax dollars, you lower your taxable income—which can shrink your annual tax bill. For example, saving 5% of a $40,000 salary could reduce your taxes by $500 while adding $2,000 to your retirement. It’s a win now and a win later.
IRAs: Your Flexible Backup Plan
If you don’t have access to a 401(k), or if you want to save beyond your workplace plan, an IRA (Individual Retirement Account) gives you more flexibility.
There are two main types:
- Traditional IRA: You may get a tax break now, but you’ll pay taxes when you withdraw funds in retirement.
- Roth IRA: You contribute after-tax dollars now, and your future withdrawals are tax-free.
Both options offer long-term growth and are especially helpful if you’re self-employed, working part-time, or simply looking for additional ways to save.
You can open an IRA directly through Community Choice Credit Union. It’s simple to set up and even easier to manage over time. You can make deposits when it works for you or schedule recurring contributions to keep your savings growing.
It’s a flexible, low-pressure way to build your future—accessible, no matter your career path or income level.
Need Help Choosing the Right Path?
Retirement planning isn’t one-size-fits-all. Your goals, your job, your timeline—they all play a role. That’s why Community Choice offers free sessions with our Certified Credit Union Financial Counselors. These one-on-one conversations are designed to help you take the guesswork out of saving for retirement.
Whether you’re just getting started, trying to make the most of a 401(k), or deciding if a Roth IRA fits your future, we’ll help you understand your options and choose what works best for you.
Our counselors take the time to explain everything clearly, so you can feel confident in your next step. You’ll walk away with a personalized roadmap that fits your life today—and grows with you over time.
With flexible scheduling and support available both in person and online, it’s never been easier to get the guidance you need—on your time and at your pace.
