Gulf Winds Federal Credit Union Blog

5 Easy Steps to Save for Big Ticket Items

Very few of us have money at the ready to cover an emergency, never mind the money for the larger purchases we’d like to make. This is why it’s that much more important to prioritize savings to cover both the items you need as well as those you want.

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To Roth or not to Roth? Seven Things to Consider Before Transferring Retirement Assets

When you leave a job, you have the opportunity to convert your employer-sponsored retirement account to a Roth IRA. The tax benefits are clear. Roth IRAs offer tax-free growth and tax-free withdrawals in retirement. And even if you made too much while working to contribute directly to a Roth, you can still take advantage of a conversion. Your tax and financial advisors can help you determine if a conversion benefits you. Let’s look at some factors that could affect your decision.

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Savings is an Option for Individuals with Disabilities

Often individuals with disabilities are not familiar with the savings options available to them, or they may be afraid to save money in fear of jeopardizing their public benefits. However, there are a wide variety of saving strategies that individuals with disabilities can potentially access to achieve their savings goals and improve their financial well-being.

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Why Holiday Savings Accounts Are Your Ticket to Financial Wellness

Most of us spend more during the holidays than we do the rest of the year. Budgeting is always a good idea, but it becomes particularly important when Black Friday, Cyber Monday, Christmas, and all the other spend-happy holidays roll around. 

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Q&A: Renter Nation Rising

Lifestyles are changing dramatically with the coming-of-age of the millennial generation, and homeownership is no longer perceived as fulfillment of the American Dream. Even if this generation were to decide that homeownership was preferable, most are unable to afford the ownership lifestyle of choice, resulting in a trend that we refer to as “Renter Nation Rising.” Affordability and socio-demographic shifts are both playing a huge role.

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Generosity Within Limits

One of the great things about wealth is getting to share it with those you care about, during your lifetime or after. Current tax laws enable you to do just that quite generously. As a quick reminder, here are a few ways you can make the most of your giving nature.

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Why a Credit Union is a Great Source for a Mortgage

Now is a great time to buy a house. Interest rates and housing prices are still temptingly low, and there are plenty of homes on the market to choose from. But where do you go for a mortgage on your new home? Increasingly, homeowners are turning to credit unions. 

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A Fresh Start: The Pros and Cons of Changing Careers

Business moves faster than it did in a few decades ago with ongoing changes in technology. The average worker today will only stay at his/her job for 4.4 years, and 91 percent of those born between 1977 and 1997 expect to stay with a business for less than three years.

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Five Facts You Should Know About Preparing for Retirement

Retirement is a milestone that many working professionals both look forward to and fear. Here are five tips that’ll help you prepare for retirement, no matter what stage you’re at.

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Clearing Out Your Personal Finance Clutter: A Keep and Toss Checklist

One of the most tedious aspects of personal finance is keeping track of paperwork. By law, you're obligated to hold on to certain financial documents in case the IRS decides to audit your taxes, but once you know which documents are essential and which are just clutter, you'll find that your paperwork is more manageable. Take a look at these two lists to know what you must keep and what you can toss.

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Saving Money While Eating Out

Cutting expenses, creating a budget, and sticking to your financial plan are great methods to achieve savings goals. However, it is only human nature to want to splurge from time to time, especially when it comes to food. Fortunately, there are ways you can enjoy eating at your favorite restaurants without breaking the bank.

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Tips for Negotiating With Skill

Negotiating can be intimidating to some. It's a skill that requires clear communication, confidence, and quick thinking. Novices to negotiation usually approach it with the mindset of solely looking out for themselves and their interests. However, this one-dimensional approach may backfire and limit their negotiations. Here are some tips that can help new negotiators close the best deals possible.

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Gift Registries: When, Why, and How

Gift giving is a time-honored tradition for birthdays, bridal showers, house warming parties and just about any occasion, really. You don’t need an excuse to buy someone a gift! However, there are some situations where gift giving goes into overdrive. Weddings, for example, sometimes involve hundreds of guests, so knowing what to bring as a gift can get tricky if there’s no way of knowing who else is gifting what?

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Ways to Make Saving Fun for Kids and Teens

Financial responsibility is one of the most valuable life skills kids and teens can learn. Teaching kids how to save and earn money instills healthy habits at an early age.  Early financial lessons help children and teens manage and invest money wisely as they grow into young adults.

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What you Need to Know Before Applying for a Home Equity Loan

Home equity loans and home equity line of credit are two common ways that people get cash out of their homes for various needs. If you have equity in your home and expensive needs like home improvements, learn more about these two activities and how they can benefit you.

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