USAA is a members-only institution that is open to current and former military members, military family members and dependents, and employees of the Department of Defense. USAA is a full-service institution, offering many investment vehicles to help you plan for retirement.
Free Retirement Advice
USAA has a full staff of retirement advisors waiting to answer your questions and advise you on the best solution for you. This advice is free to all members, provided at no cost to you as a benefit of membership in USAA. USAAs financial advisors are salaried employees, and do not work on commission, so there is no pressure. This service offers members a savings of thousands of dollars a year, and can be utilized by making a simple phone call or by sending a message through the USAA website.
USAA is a full-service brokerage firm. You can buy and sell stocks simply by logging in to your USAA account. You can fully fund trades by transferring funds from your existing USAA checking or savings account to your brokerage account on USAA. Your first five trades are free; each subsequent trade costs between $4.95 and $9.95, which is a steal. Investing in the stock market is a proven way to increase your retirement account and ensure that you can retire comfortably.
USAAs Mutual Funds allow you to invest as little or as much as you want. As long as you set up an automatic monthly investment from your USAA checking or savings account, there’s no minimum to buy. In addition, you don’t pay sales fees for USAA mutual funds, you are only subject to minimal mutual fund operating expenses that may occur.
An annuity is a low-risk way to save for retirement. The value of your annuity is guaranteed to increase daily, and the interest you earn will never drop below the guaranteed minimum rate. And the interest you earn is not taxed until you withdraw it, allowing you to benefit from tax-deferred compounding. You can contribute to your annuity at any time, and USAA offers bonus matching for the first twelve months that you contribute to an annuity.
Certificates of Deposit (CDs)
A USAA CD/IRA is a great way to grow your retirement funds at a guaranteed rate. You get the security of a CD and the tax advantages of an individual retirement, and you can start a CD with as little as $250. Contributions are FDIC-insured, and interest rates are locked in for the amount and time you select (from as little as 30 days to as much as 5 years), so you have complete control over your account.
No matter what stage of life you are in, USAA is the best choice for those affiliated with the military to help plan and fund retirement expenses. And membership in USAA is free to qualified individuals. You can visit their website for more information.
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