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IRA Contribution Limits:
| Traditional
and Roth IRA Aggregate Annual Contribution
Limits |
| Tax
Year |
Annual
Contribution Limit |
Additional
“Catch-Up” Contributions for Owners
Age 50 and Older |
| 2007 |
$4,000 |
$1,000
($5,000 total) |
| 2008 |
$5,000 |
$1,000
($6,000 total) |
| 2009 |
$5,000 |
$1,000
($6,000 total) |
| The
contribution limit will be adjusted for inflation
in 2009. |
Source: CUNA Mutual Group |
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Upcoming
FREE Seminars
First
Time Home Buyers
Making the Right Mortgage Choice
Tues.,
Feb. 19, 2008, 5:30 p.m.
Novato Branch, 1010 Grant Ave., Novato
Dig
Out of Debt
Improve Your Financial Picture
Wed.,
Feb. 27, 2008, 6:00 p.m.
RCU Administrative Offices
3033 Cleveland Ave., Santa Rosa
To
RSVP, call (800) 479-7928,
ext. 5110 or visit redwoodcu.org.
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On
the Road to Financial Success:
Rainy Day Savings Tips |
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  f
saving for a rainy day is in your plans for 2008,
consider the following tips on your journey toward
financial success.
1.
Start Early. Time is your ally
in building a nest egg. The Cullom family (at
right) started their son’s financial education
early by establishing his RCU Youth account!
2.
Pay Yourself First.
Make saving a regular part of your financial routine.
Set up a payroll deduction directly into your
savings account and watch the balance grow.
3.
Refinance Loans.
You can save money by reducing the amount you
pay each month and paying a lower interest rate.
See page 2 for special
refinancing options.
4.
Participate in Employer Sponsored Plans.
Make pre-tax contributions to your employer’s
401(k) plan. If your employer offers a matching
contribution, you’re essentially getting
paid to save! For those who are contributing to
an IRA it’s important to make sure you understand
contribution limits. (see chart lower left).
5.
Monitor Your Progress.
Regularly review your savings progress. Check
to see if you’re on track and seek trusted
financial advice if you’re not.  |
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Ask
About These Saving Options:
Call or visit RCU today:
(800) 479-7928 
redwoodcu.org
*Investments
offered through CUSO Financial Services,
LP (CFS) an independent broker dealer, are
not NCUA/NCUSIF insured, are not Credit
Union guaranteed and may lose value. Redwood
Credit Union is in partnership with CFS
(member FINRA/SIPC). Financial advisors
are employees of Redwood Credit Union and
are registered through CFS. www.finra.org
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 etermining
whether you are adequately insured is an important
component to your financial picture. Life events
such as the purchase of a new home, vehicle or
birth of a child can affect the types of insurance
and coverages you need.
The
knowledgeable specialists at RCU Insurance Services
will evaluate your situation and provide you with
a complimentary quote for all your insurance needs,
including auto, home, business and more.
On
average, RCU
Members saved $477 last year by
switching to RCU Insurance Services. Call or visit
today to see how you can benefit:
(800)
479-7928
redwoodcu.org
License
No. 0D91054 |
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