MidWestOne Investment Services Blog

As your retirement draws closer, you will probably start to have lots of questions such as:

Unlike verbal literacy, financial literacy isn't often taught in schools—which means that many people may enter adulthood without having all the tools they need to make informed and effective financial decisions.1 Fortunately, gaining financial literacy doesn't need to be a long or complicated process.

When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even if you do, there are reasons you may want to consider using Traditional and/or Roth IRAs to supplement your retirement savings.

Many have heard Social Security retirement benefits referred to as part of the "three-legged stool" of retirement: Social Security, a pension or defined benefit plan, and personal savings.1 The idea is that with these three sources of income, a retiree can ensure several steady streams of income without relying too heavily on just one "leg."

In 2020, the average FICO score in the U.S. rose to 711, an eight-point increase from 2019.1 When it comes to having healthy credit, your score is the result of many factors. But what specifically goes into someone's credit report, and what steps can you take to improve your credit?1 Test your credit knowledge with our quiz below.

Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time outweighs such risks.

If you're like many Americans, you may have a few dents and dings on your credit report.

When approaching the latter part of life, it is easy to get caught up in achieving every goal on your bucket list. Individual lists vary widely, but often are filled with wild adventures like skydiving and scuba diving in the Great Barrier Reef. Bucket list items are the things one plans to do their entire life once they have the time and money to do it.

How resourceful can you be during your retirement? Determining where your retirement money will come from is an integral part of planning for retirement. Most people draw on three main sources of income: Social Security, employer-sponsored plans, and personal retirement savings. Each offers important resources that can help you fund the lifestyle you seek in retirement.

While the 2020 tax year saw some significant changes to filing deadlines due to the effects of the global pandemic, the 2021 tax season seems to be set to be on track with normal filing deadlines. With the pandemic still in sight, it is important to consider that these dates may be subject to change.