Are you saving enough for retirement? Do you know how much you’ll need to save to live the life you want in retirement?
These two questions can paralyze anyone who is approaching retirement age or beginning to think about retirement. There are many factors that influence your retirement savings: 401(k)s, IRAs, inflation, health care costs and so on.
To help you get a better idea of what you’ll need to save for retirement, we’ve created this Retirement Savings Quiz. Whether you feel unprepared or feel like you have a good handle on your retirement needs, this quiz can help. Go through and answer the questions, then check your answers at the bottom to see how you did.
If you are hoping to save money quickly, or if you are wondering what you really spend your money on, a week-long spending sabbatical may be a great idea. Not spending money for a certain amount of time offers insight to see where your money is going. The best thing about this money-saving idea is that you can tailor it to your needs and goals.
Set your first time goal modestly. If a week is too long, pick a different period of time. The goal is to make this a meaningful exercise that helps shed some light on your spending patterns and save a few dollars.
Aside from the holidays, the summer may be the most expensive time of year. It stays lighter for longer, the weather encourages you to stay outside and kids and grandkids need to be entertained. All of this can cause a rise in your spending.
By no means are we saying you should cut back on the summer fun. You simply need to be conscious of saving money in other areas of your life. Here are a few things you can do to limit your spending to continue having a fun summer.
On behalf of The Putnam Bank Foundation, President & CEO, Thomas A. Borner, presented a check to Peter Deary in the amount of $5,000 for the 2015 26th annual DKH Deary Memorial Race, Walk & Ride. Putnam Bank has been a supporter of this worthy event for many years and has been a major sponsor of the event since 2002.
“Putnam Bank and its Foundation and staff are pleased to be a part of such a worthwhile event that assists in providing cancer services and support to individuals in our community who may not have the resources to obtain much needed medical attention”. This donation reflects our commitment to this event. The Bank and its staff also will again be supporting the cause through the PB team of walkers, runners, cyclist, and volunteers; remarked Mr. Borner. Also pictured above is Barbara Elliott, one of many from Putnam Bank serving on fundraising committees for this annual event. This year’s event will take place on Saturday August 8th from Park Road in Putnam.
Putnam Bank, in existence for over 150 years, is a $481 million state chartered and insured stock bank. Putnam Bank has branch offices in Putnam, Pomfret Center, Danielson, Plainfield, Griswold, Gales Ferry, and Norwich. It also operates a full-service loan center in Putnam. For more information call (800) 377-4424 or visit our website at putnambank.com.
Tonya Brock was recently promoted to Assistant Vice President & Branch Manager of the Pomfret Office. Tonya has over 20 years of banking experience and has been with Putnam Bank for 17 years.
“We are pleased to promote Ms. Brock to the position of Assistant Branch Manager,” said Thomas A. Borner, President and CEO of the bank. “She exemplifies the best of community banking; and it is rewarding to be able to promote from within as the staff develops and grows along with the bank,” added Borner.
Tonya attended the University of Connecticut, where she received the Outstanding Academic Achievement Award from the President’s Commission on the Status of Women. She has a long history of community involvement with numerous charitable organizations and events, including: Past Board Member and Family Services Committee Chair for Habitat for Humanity of Eastern CT, Founding Member and Past Board Member of the Theatre of Northeastern CT, Founding Member and member of the Steering and Grants Committees of the Northeast Chapter of the Community Foundation’s Women & Girls Fund, Top Walker for March of Dimes WalkAmerica, long-time participant in the American Cancer Society’s Relay for Life, and a member of the philanthropic singing group Voices, which has raised well over half a million dollars for local charitable organizations in the last 15 years.
Putnam Bank, in existence for over 150 years, is a $481 million state chartered and insured stock bank. Putnam Bank has branch offices in Putnam, Pomfret Center, Danielson, Plainfield, Griswold, Gales Ferry, and Norwich. It also operates a full-service loan center in Putnam. For more information call 800-377-4424 or visit our website at putnambank.com.
Life is busy. From your twenties to the time you retire, there are several milestones you’ll hit and surpass: getting married, purchasing a home, having kids, changing jobs.
All of the big moments and changes in life require some degree of financial preparation. In fact, a lot of times being prepared financially will help you save money.
In order to help you keep track of where you should be, Putnam Bank has come up with a decade-by-decade look at financial milestones. It will give you a better idea of where you are and what you have left to do.
Give it a read, and then get in touch with us to see how we can help!
Getting a checkup isn’t always a pleasant experience. Whether it is your personal health, your car or your home that is being evaluated, the news is generally a mix of good and bad.
The same can be said for your finances, especially if you know you’ve been bad. However, the point of a checkup is so you can correct whatever it is that is wrong. It may be tough to hear, but it is necessary for improvement.
As summer can be an expensive time with trips, activities and so forth, we thought it would be a good time for a Mid-Summer Financial Checkup. Take a look at the questions below to evaluate your current financial health.