Macatawa and Wintrust Announcement
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Protect your ability to save for retirement

Plan for the unexpected

During your working career, you have the opportunity to earn and save for the future. Like many people, you may plan for an uninterrupted and growing income throughout your career that will allow you to steadily build a comfortable nest egg. But unfortunately, the reality is that almost everyone experiences disruptions in their income before retirement.

A recent report from the National Endowment for Financial Education reveals that 96 percent of American men experienced four or more income shocks — defined as a loss of 10 percent or more of earnings — by the time they reached age 70.* Poor health and disability, job loss and divorce are some of the most common causes of financial blows.

Fortunately, you can help keep financial setbacks from derailing your retirement plans by planning ahead for them. Here are tips for staying on track if hurdles come your way:

Start saving early.

The earlier, the better. The more money you’ve saved, the less vulnerable you’ll be to financial setbacks. There isn’t a one-size-fits-all formula for saving. Participating in an employer-sponsored retirement plan is a popular option because it offers reliability and consistency.

Maintain emergency savings.

Having an emergency fund in a savings account or similar vehicle can allow you to cover unexpected expenses without going into debt or tapping your retirement savings prematurely.

Live a healthy lifestyle.

Poor health is one of the greatest threats to retirement saving. Hospital bills can eat up a large chunk of your funds. You can help keep yourself in tip-top shape by eating well, exercising, getting enough sleep and scheduling regular exams with your physician.

Expect the unexpected.

Insurance can help protect your savings if you’re sidelined by a serious illness or accident — particularly health and disability insurance. Insurance may not seem necessary if you’re young and healthy, but it could save you thousands of dollars if the unexpected happens.

Plan your recovery.

If you’ve been dealt a financial blow, re-evaluate your retirement savings when the emergency has passed. Figure out what it will take to get back on track, then implement your plan.

Invest in your future

Saving for retirement is important. We have the expertise you need to make sure your retirement is on the right track. Talk to one of our investment representatives to get a free financial review. Call us at (877) 820-2265 or fill out the form at the bottom of the page.

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Think ahead

Protecting your ability to save may sound like a challenge, but with some foresight and determination, you can make it work. Seeking the expertise of a financial advisor may also help you reap the rewards of saving. Contact an Osaic Institutions financial advisor today.

*Source: NEFE, Income Shocks and Life Events; Why Retirement Savings Fall Short, 2017.

Products and services offered by OSAIC INSTITUTIONS, INC. are: 
Not a Deposit | Not FDIC Insured | Not insured by any federal government agency | Not guaranteed by the bank | May go down in value
Osaic Institutions and the Bank are not affiliated

Tax trivia

In ancient Greece, the tax professional was revered as the most noble man in society. On the flip side of the coin, in 1789, French tax collectors were sent to the guillotine.

Until the Civil War, our federal tax system was based mainly on excise taxes and customs duties. To help finance the war, Congress passed the Revenue Act of 1861, which levied a 3 percent tax on all personal incomes higher than $800 a year.

The error rate for paper returns is 21 percent, compared with an error rate of 0.5 percent for e-file returns.

Common mistakes on tax returns include failing to enter correct Social Security numbers, claiming the wrong filing status and forgetting to date and sign the return. For a list of other common errors, visit

Ratified in 1913, the 16th Amendment grants Congress the power to levy a tax on personal income.

Include our routing number 072413845 and your 9-digit account number on your return for direct deposit of your tax refund into your Macatawa Bank account.

Sources: IRS (, U.S. Department of the Treasury (

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