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Career-Minded

Financial guidance for maturing adults without children at home   

Maximizing your paycheck in your 30s and 40s is a priority during this time when your income tends to rise. You may have discretionary income for travel and hobbies, and the challenge is to find the right balance between spending and saving. The financial decisions you make now will have the greatest impact on the lifestyle you will enjoy during retirement. It’s important to note that people are retiring earlier and living longer, and you may need more money in the future than you think.

American National Bank can help you stay on track with your long term financial goals.

Shop for the best mortgage and consumer loans  >> 

Seeking the best mortgage or consumer loan by shopping, comparing, and negotiating may save you thousands of dollars. Refer to the Federal Reserve's guide to Shopping for a mortgage. A mortgage—whether for a home purchase, refinancing, or a home equity loan—is a product, just like a car, so terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage, including interest rates, points, fees, down payment, and private mortgage insurance requirements. Home equity loans can be helpful when extra cash is needed to reduce significant credit card debt—but be cautious about re-building credit card debt once it is paid.


With competitive rates, experienced lending professionals, and local decision-making, you’ll be sure to find a loan at American National Bank that meets your needs. To apply for a mortgage or consumer loan, stop by and talk with one of our lending officers.

Click here to view loan products

Understand your credit report  >> 

Your financial behavior over the past seven years, including how much credit you have, how long you've had it, and whether you pay your bills on time is information included in your credit report. Three credit reporting agencies — Equifax, TransUnion and Experian — maintain these reports, and lenders buy them to help them decide whether to offer you a prequalification. Your credit report also carries your credit score* ranked between 300 and 850 that many lenders use to decide whether you are credit worthy and will repay a loan. Your credit score can also influence the interest rate you pay. In many cases the higher your score, the lower your interest rate. Your credit score is available from the three credit reporting agencies:

*American National Bank currently does not use a credit score when evaluating credit worthiness.           

Conserve time, money, and paper with American National Bank’s convenient checking accounts with online banking and bill pay and ATM services  >> 

You’ll reduce the time it takes to pay your bills and save on the expense of printed paper checks and postage while helping the environment as well.

American National Bank offers e-Banking services to help reduce our carbon footprint.  Please navigate to e-Banking to review our electronic services, such as Online Banking, Online Bill Pay, e-Statements, Visa debit cards, and Mobile Banking.

Save for Retirement  >> 

Many people underestimate the amount of money they’ll need in retirement. Be realistic about major expenditures, e.g., will your mortgage be paid off by retirement? If so, you may need less income than you do now. Do you plan to buy a vacation home or travel extensively? Will you have to pay for your own health insurance? These and other financial considerations come into play. Now is a good time to up your contributions to your retirement savings accounts.


Talk with American National Bank’s new accounts staff to learn about the products we offer that can help you meet your retirement goals.

Certificates of Deposit

Individual Retirement Accounts (IRAs)

Savings and Money Market Accounts

Please call the Bank for current rates.

 

Tips for Effective Financial Management

  • Understand what your credit report score means and take a pro-active role in monitoring it.
  • Resist the urge to cut back on savings to meet rising expenses or accommodate other goals.
  • Make sure your mortgage payment, including taxes and insurance, represents no more than 25 percent of your gross monthly income.
  • Spend less than you earn—it’s the simplest way to stay free from
    all-consuming debt.

Some Financial Calculators for the Career-Minded...

Our calculators can help you determine what you need to achieve your goals and stay on budget.

 

For help determining the best accounts and products for sound and productive money management during your Career-Minded Life Stage, please contact us at (903) 572-1776 or email us at info@anbmp.com.

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