CB&S Bank Logo

How to Plan Financially for Retirement

Older couple snorkeling on vacationMaking the switch from working to retirement takes vigilant financial planning. But what should you include in your plan and how do you create it? CB&S Bank has produced these 3 tips to help you prepare financially for your retirement:

  1. Save!—The first step to being financially prepared for retirement is to save. It's a good idea to have a savings to rely on in case of any delays in your pension or Social Security. Open a Savings account to begin saving. You could also consider opening an Individual Retirement Account or a Roth IRA to save additional funds for retirement. CB&S Bank also has an IRA Savings Calculator and a Roth IRA Savings Calculator to help you reach your retirement savings goals!
  2. Re-evaluate your Insurance needs—It may be a good idea to re-evaluate your insurance coverage... Make sure that all of your coverage is necessary to your situation and be sure to adapt, if needed.
  3. Create and test a retirement budget—Just because you retired does not mean you no longer need a budget. Create a list of all your expenses before retirement and keep in mind of things that may change once you do retire... Once you have done this, try to implement your proposed budget and see if you can live comfortably with your projections. 
  1. Personal

    1. Personal Banking
      1. Personal Checking
        1. Personal Checking Account Comparison
        2. Free Checking
        3. Star Rewards Checking
        4. eChecking
        5. Premium Checking
        6. Interest Checking
        7. Prime Advantage
        8. Platinum Checking
        9. All About U Student Checking
        10. Golden Customer Club
        11. Golden Customer Club Plus
        12. Insured Money Fund
      2. Personal Savings
        1. Savings Account Comparison
        2. Statement Savings
        3. Star Rewards Savings
        4. eSavings
        5. Super Star Savers Club
        6. Christmas Club Savings
        7. Vacation Club Savings
        8. Certificates of Deposit (CDs)
        9. Individual Retirement Account (IRAs)
      3. Debit Cards
      4. Safe Deposit Boxes
    2. Personal Borrowing
      1. Home Loans
      2. Personal Loans
      3. Auto Loans
      4. ScoreCard Rewards Credit Card
    3. Account Tools & Resources
      1. Personal Financial Insights
      2. Personal Financial Calculators
      3. ID Protection
      4. Access Line
      5. Reorder Checks
      6. Report Lost/Stolen Card
      7. Download a Switch Kit
  2. Business

    1. Business Banking
      1. Business Checking
        1. Business Checking Account Comparison
        2. Free Business Checking
        3. Business Select Checking
        4. Business Analysis Checking
        5. Business Interest Checking
        6. Business Prime Advantage
        7. Insured Money Fund
        8. Workplace Advantage Checking (For Your Employees)
      2. Business Savings
        1. Business Savings Accounts
        2. Simplified Employee Pension (SEP) Account
      3. Business Mobile Banking
      4. Business Debit Cards
      5. Treasury Management
        1. Treasury Management Services
      6. Merchant Services
    2.  Business Borrowing
      1. Small Business Loans
      2. Commercial Loans
      3. Commercial Real Estate Loans
      4. Credit Cards
    3. Account Tools & Resources
      1. Business Financial Insights
    4. Business Financial Calculators
      1. Capital Calculator
      2. Cash Flow Calculator
      3. Commercial Loan Calculator
      4. Debt Service Calculator
      5. Ratios Calculator
  3. Digital Banking

    1. Personal Digital Banking
      1. Mobile Banking
      2. Mobile Deposit
      3. Internet Banking
      4. Internet Bill Pay
      5. PopMoney
      6. eStatements
      7. MobiMoney
      8. Mobile Wallet
    2. Business Digital Banking
      1. Mobile Banking
      2. Treasury Management Internet Banking
      3. Business Express Deposit
  4. Home Loans

    1. Home Loan Options
      1. Apply For A Home Loan
    2. Meet Our Mortgage Team
      1. Scott Pride
      2. Dean Smith
      3. Lenea Waldman
      4. Charlotte Loines
      5. Alana Beaugez
      6. Bobby Wright
      7. Martha Neely
    3. Mortgage Tools & Resources
      1. Home Loan Insights
      2. Home Loan Toolkit
      3. Home Loan Glossary & FAQ
      4. Loan Calculator
      5. NMLS Registry
  5. Financial Services

    1. Insurance
    2. Personal Investments
      1. Meet Our Team
  6. About Us

    1. Our Story & History
    2. Locations & Hours
      1. Adamsville
      2. Ardmore
      3. Birmingham
      4. Bolivar
      5. Cherokee
      6. Clarksdale Downtown
      7. Corinth Alcorn Dr
      8. Corinth Harper Rd
      9. Cornersville
      10. Decatur 6th Ave
      11. Decatur Beltline Rd
      12. Eupora
      13. Fayetteville
      14. Florence Downtown
      15. Florence Hough Rd
      16. Greenville Downtown
      17. Greenville Highway 1
      18. Greenwood Downtown
      19. Greenwood Park Ave
      20. Hodges
      21. Hohenwald West Main St
      22. Huntsville Downtown
      23. Huntsville Hampton Cove
      24. Huntsville Perimeter Park
      25. Killen
      26. Lewisburg
      27. Madison
      28. Main Office
      29. Moulton
      30. Murfreesboro
      31. Murfreesboro Cason Lane
      32. Muscle Shoals
      33. North Russellville
      34. Parsons Main St
      35. Phil Campbell
      36. Pulaski
      37. Red Bay
      38. Ripley
      39. Savannah Main St
      40. Russellville Franklin Plaza
      41. Savannah Water St
      42. Scotts Hill
      43. Selmer Mulberry Ave
      44. Starkville
      45. Sturgis
      46. Town Creek
      47. Tupelo Gloster St
      48. Tupelo Main St
      49. Walnut
      50. Whiteville
    3. Contact Us
    4. Career Opportunities
    5. Privacy & Security
    6. Terms & Conditions
    7. Disclosures
  7. Education Center


    1. Personal Financial Insights
    2. Business Financial Insights
    3. Home Loan Insights
    4. Home Loan Toolkit
    5. Home Loan Glossary & FAQ
    6. Product Video Demos
    7. Financial Calculators
Go To Top