Consumer Financial Information & Resources » USAA

5 Things to do Before Retirement

admin — Tue, 27 Jul 2010 05:32:36 +0000

Use this Pre-Retirement Checklist to get Your Affairs in Order…

If you’re getting older and your retirement is just around the corner, maybe only a couple of years away, you may want to take some time to plan an effective exit strategy. Experts encourage older workers to start planning sooner rather than later. When planning your retirement, you may as well be planning for a vacation, a very long, indefinite vacation. Every detail matters, so you don’t want to leave this to the last minute.

1. Create a Practical Budget
Take a moment to calculate your current living expenses and match those expenses with the amount of income to anticipate receiving in your retirement, such as Social Security. If you find that your expenses exceed your income, you’ll want to address this by drawing down your savings or by using a sum of money from your nest egg to purchase an annuity.

Get the Best Coverage and Great Rates from USAA

2. Assess Your Savings and Benefits
Speak with a financial advisor about your 401k, plus any other savings and benefits you may have. You can always punch the numbers yourself as well. Try some of the more popular online retirement calculators, such as those found at Fidelity.com, TRowePrice.com, or TDAmeritrade.com.

Another thing to keep in mind is that when you retire will also affect your Social Security benefits. If you retire at 62 you’ll reduce your Social Security benefits by 25 percent or more, but if you wait until the normal retirement age of 70, you could see as much as a 132 percent boost to your benefits.

3. Pay Off the Mortgage
You don’t want to be burdened with having to pay a monthly mortgage payment. So do your very best to pay off the home loan before you retire, otherwise you’ll significantly lower your expendable income. Remember, you’re on vacation now and you want as much spending money as possible. Experts say before paying your loan amount in full, establish a home-equity line of credit so you’ll be able to access tax-deductible interest money if you need it.

4. Assess Your Potential Health Needs
If you are one of the lucky ones, you may still be covered on your former employer’s health insurance plan. But if you don’t have retiree health insurance benefits, you’ll have to fend for yourself. The good news is that Medicare offers a supplemental Medigap policy and you’ll have access to Medicare Part D prescription-drug coverage. For further information about Medicare coverage, visit Medicare.gov.

5. Review All Insurance Policies and Needs
Older people don’t necessarily need life insurance. Especially, if their kids are grown and the house is paid off. One insurance policy you may consider buying for retirement is long-term-care coverage, protecting you against the biggest threat to your retirement nest egg.

No related posts.

USAA Insurance Coverage

admin — Sat, 22 May 2010 05:27:44 +0000

USAA Offers Auto, Home & Property, Life, Business, and Health Insurance Services…

USAA is the leading insurance company in the United States in regard to customer satisfaction, according to the 2010 Forrester’s Customer Advocacy Survey. USAA insurance services include auto insurance, home and property insurance, life insurance, business insurance, and health insurance.

With USAA automotive insurance coverage you get: guaranteed repairs at over 2,300 USAA approved mechanics if you own your vehicle; accident forgiveness and discounts in most states; complete online access to get a quote, to print ID cards, and additional services; flex-payment options where customers can pay bills in accordance with their pay schedules; and young drivers who are good students are eligible for discounts.

Protect Your Home & Your Personal Property with the Nation’s Leading Insurer

With home and property insurance from USAA customer are offered competitive rates, protection for their belongings, identity theft protection, up to 100% of the replacement value, coverage for your home, apartment, car, and storage facility, coverage for jewelry and other valuables, and low to no deductibles.

Life insurances services come in the form of term life policies, permanent life insurance policies, and military personnel term life policies. With term life, customers receive affordable protection for a specific time period and the option to convert to permanent insurance without a medical examination. With permanent insurance, the insured can select from fixed or flex-payment options. And with military term life insurance, coverage is combined with military benefits, covers death caused by war, and coverage is extended past fulfillment of military service obligations.

USAA health insurance allows you to keep your own doctors, pay only for coverage you need, provide savings accounts that can offer tax advantages, receive preventative care benefits to help prevent future health concerns, and the range of plans is available to meet each individual and family needs.

No related posts.

USAA Checking Account

admin — Mon, 17 May 2010 21:04:58 +0000

Every ATM Nationwide is Your ATM…

USAA is a leader in customer satisfaction for good reason. With a USAA checking account every ATM nationwide is available for you to use without paying charges. If a bank charges a USAA checking account holder a fee for using their ATM, the money will be refunded by USAA.

One of the greatest features available with USAA checking is the ability to deposit checks from home with USAA Deposit@Home℠. Qualifying account holders can conveniently make secure deposits 24 hours a day from the office or at home. Never wait in line again, simply scan your check, upload it to a computer, and send that information directly to USAA. From there your money is immediately credited to your account.

Deposit checks instantly with a USAA Deposit@Home℠ Free Checking Account

With USAA Web BillPay® you can manage, view, and pay all of your bills from one place. With USAA’s online bill paying service you can pay anyone, including your landscaper or dentist, plus schedule all your credit card, electricity, water, and waste management payments.

Additional account features include free unlimited checking funds transfers to any U.S. bank and access to your account from any computer or mobile device through USAA’s new financial center.

USAA Financial Center allows customers to open new banking accounts and insurance policies, set up real-time video conferencing with a USAA service representative for in-depth financial discussions, and access to secure computer workstations.

A USAA checking account also comes with free overdraft protection, free checks, no monthly service fees, interest on a balance over $1,000, plus a free rewards debit card that can be used redeem cash, buy gift cards, or discount airline tickets.

Opening a checking account with USAA can be done online and the process takes about five minutes. For additional information, contact USAA directly to speak with a customer service representative. USAA ranked highest for both insurance services and banking services in the 2010 Forrester’s Consumer Advocacy Survey.

No related posts.

10 Best Financial Companies in 2010

admin — Thu, 11 Feb 2010 07:02:54 +0000

And the 7 Banks that Performed Worst…

The news is out and HSBC Bank ranks worst amongst this year’s Forrester’s Customer Advocacy rankings with only 16 percent of HSBC’s customers agreeing to the statement: “My financial provider does what’s best for me, not just its own bottom line.”

The survey involved an estimated 4,500 consumers and 46 different financial services companies, which includes banks, insurance providers, and investment firms. The bottom seven banks, based on customer responses to the above question, were HSBC with only 16 percent, Citibank with 26 percent, Fifth Third Bank with 27 percent, TD/Commerce with 28 percent, Capital One with 29 percent, Chase with 31 percent, and Bank of America with 33 percent.

According to The New York Times, A spokesperson for HSBC declined to comment because he had not seen the survey.

Only 16% of HSBC Customers Surveyed Feel the Bank does What’s In Their Best Interest

Oh, and for those of you who may be wondering, the top ten rated firms in this year’s Forrester’s Customer Advocacy rankings are:

1. USAA (insurance) – A Fortune 500 company that mainly provides insurance services, but also conducts consumer banking and investment planning product and services.

2. Any credit union

3. Any independent financial advisor

5. USAA (banking) – Yes, two top five positions.

6. AAA – Referred to as Triple-A (formerly known as American Automobile Association) boasts 50 million-plus members in North America and mainly provides vehicle insurance.

7. State Farm – The largest automobile and home insurance company in the United States, and ranked 31st in the 2009 Fortune 500 list of American companies by revenue.

8. Any regional or local bank

9. Aflac – In the United States they’re the largest provider of supplemental insurance, in Japan, the’re the largest life insurer and second largest overall insurance company.

10. GEICO – Also known as the Government Employees Insurance Company, mainly provides auto insurance, offering coverage on more than ten million vehicles, by more than nine million policy holders.

No related posts.