Investing Insurance
Grow your money. Protect what you love.
Investing and retirement planning help your money grow over time and prepare you for life after full-time work. Starting early, staying consistent, and protecting what you build can make a powerful difference in your long-term financial security.
Investing and insurance 101
Best practices
Here are some important investing and insurance best practices that you can use in your daily life.
Start early
Time allows compound interest to work in your favor, making it easier to build long-term financial security.
Save consistently
Regular contributions, even small ones, build strong habits and powerful growth over time.
Diversify your money
Spreading investments across different types of assets lowers risk and helps protect against market changes.
Use employer matches
Employer contributions are extra money that can significantly boost your retirement savings.
Increase savings as income grows
Putting part of every raise or bonus toward retirement strengthens future stability.
Protect what you build
Insurance and beneficiary planning help safeguard your progress and your loved ones.
Review accounts yearly
As your life changes, your investments, goals, and protection needs should change too.
Terms & definitions
You need to know what things are before you can make sense of them. Here are some basic terms and definitions to help you better understand investing and insurance.
Term |
Definition |
|---|---|
Individual retirement account (IRA) |
A personal retirement savings account that offers tax advantages |
401(k) or 403(b) |
An employer-sponsored retirement savings plan, often with matching contributions |
Life insurance |
Money paid to loved ones if you pass away |
Certificate of deposit (CD) |
A low-risk savings account where money is set aside for a fixed time and earns a guaranteed rate |
Homeowner’s insurance |
Protects your home and belongings from damage or loss |
Illness and accidental death insurance |
Coverage that helps protect against major medical or unexpected life events |
Rollover |
Moving retirement money from one account to another without cashing it out |
Compound interest |
When your money earns interest on both what you saved and what you’ve already earned |
Returns |
How much your investment grows or loses over time |
Employer match |
Money your employer adds to your retirement account when you contribute |
Beneficiary |
The person who receives your retirement funds or insurance benefits if you pass away |
Additional resources
Connect with SECU
In person or virtual. Connect with us when it’s convenient for you.
VISIT THE VIRTUAL FINANCIAL CENTER
SCHEDULE IN-PERSON APPOINTMENT
SCHEDULE VIRTUAL APPOINTMENT
Investing & insurance FAQs
IRA stands for individual retirement account. IRAs allow you to make tax-deferred investments to provide financial security when you retire.
SECU offers the following IRA accounts:
- Traditional IRA
- Roth IRA (Contributory or Conversion)
- Coverdell ESA
IRAs are considered Payable on Death accounts which means you may name whomever you wish as your beneficiary to inherit the money upon your death. At that time, your beneficiaries will be notified, and funds will be distributed accordingly.
At any time prior to death, you may submit a form to update, add, or remove the beneficiaries listed on the account. To do this, visit a visit a financial center, or schedule an appointment
To withdraw money from your IRA, stop by your local financial center or make an appointment here.
Per the IRS: Generally, the amounts an individual withdraws from an IRA or retirement plan before reaching age 59½ are called “early” or “premature” distributions. Individuals must pay an additional 10% early withdrawal tax unless an exception applies.
Further fees may apply. Please contact SECU for more information.
