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Retirement Planning

Planning means being prepared. Because the future will be here soon enough.

The confidence you have with Texas Bay Credit Union extends to the Texas Bay Financial Services Center, through our broker dealer CUSO Financial Services, LP*.

Whether you’re looking for overall financial guidance, assistance with a specific financial goal, creating a comprehensive financial plan or just interested in getting a second opinion, we’re here to help.

Our CFS* Financial Advisor, Alicia Knape, can provide you individualized service, and is experienced in working directly with members like you.

Alicia Knape
Financial Advisor
CUSO Financial Services, L.P. *
Located at Texas Bay Credit Union

Your CFS* Financial Advisor

In today’s market, it’s essential to work with a Financial Advisor who can provide you with insight and guidance based on an understanding of your unique situation.

For over six years, Alicia Knape has concentrated on developing, implementing, and monitoring
personalized financial plans for her clients. She specializes in retirement strategies and IRA rollovers for 401(k)’s, 403(b)’s, 457’s, Profit Sharing, TSP’s and CalSTRS.  Alicia is FINRA series 6, 7, 63 and 65 licensed and holds a life insurance license in Texas.  She is licensed to do business in Kentucky, New Hampshire and Texas.

Whether it’s developing sound solutions for your retirement, helping to generate income, or protecting your family in the event of injury or death, Alicia Knape is here to:

  • Listen to your financial needs
  • Provide impartial advice to help you make informed decisions
  • Be dependable and responsive

To learn more, contact Alicia Knape or stop by your local branch.

Creating a Financial Plan

The road to financial freedom can be short and sweet for those who follow a road map or a long and daunting path for those who fail to make a plan. Let Alicia knape our CFS* Financial Advisor at Texas Bay Credit Union, help you take the first steps toward helping you build a relatively secure financial future, by creating a road map to your financial freedom, and designing a P.L.A.N.

Creating a Financial P.L.A.N.

Pay yourself first

  • Promise yourself to take advantage of your employer’s retirement plan, whether it’s a 401(k), a 403(b), or any other kind of contributory plan.
  • Consider dollar cost averaging. Instead of investing assets in a lump sum, this may help to spread the cost basis out over several years, possibly providing insulation against changes in market price.

Live within your means

  • Promise to pay off your credit cards. Credit card debt is the number one reason most people can’t get ahead. If you’re only paying the minimum balance due on a $10,000 credit card balance with an 11% interest rate, it could take you 20 years to pay off your debt.
  • It’s often more rewarding to save for something versus putting it on a card and getting stuck with payments. If you can’t afford it, think twice about buying it.
  • Financial fitness is a commitment, a lifestyle, similar to going to the gym and eating right.

Work towards your family’s stability

  • Write or update your will. Wills are not just for the rich. Regardless of how much or how little money you have, a will may ensure that whatever personal belongings and assets you have will go to beneficiaries you designate.
  • If you have children, a will allows you to appoint a guardian for them in the event of your death.
  • Life events such as buying a home or having a child could change the amount of insurance coverage a family needs. Work with financial professional to assess the amount of coverage you and your family may need.

Never stop learning

  • Write down your financial goals to avoid roadblocks on your road map to financial freedom.
  • Work with a financial advisor to keep you up to date with new investment opportunities available to you and your family.
  • Regular reviews can help keep your investment choices consistent with your needs, risk tolerance and time horizon.

Retirement Planning

Retirement doesn’t just begin at 65. The journey starts now.

Looking forward to the day when you’ll be spending time the way you want, not sitting in traffic on the way to work? No matter how many years there are between today and retirement, it’s never too soon to start planning.

Our CFS* Financial Advisor, Alicia Knape, can help you uncover your needs and long-term goals, then build a complimentary financial plan. You’ll better understand:

  • Which investment strategy is appropriate for you, your family, and your future
  • Various asset allocation models and investment vehicles used to help build a comfortable retirement
  • Your risk tolerance and time horizon
  • The ups-and-downs of the market and how they may affect your long and short-term goals

Over 50

When you’re in your 50s, retirement planning is more important than ever, especially considering many of us can expect to live well into our 90s. But if you haven’t started saving for retirement yet, it’s not too late to catch up. Our CFS* Financial Advisor, Alicia Knape, can help you create a financial P.L.A.N. and help you uncover ways to

  • Increase the contribution you’re allowed from your workplace retirement plan and Individual Retirement Accounts
  • Take advantage of annual catch-up contribution provisions
  • Create multiple income streams

Consolidating Retirement Accounts^

If you have IRA’s, 401(k)’s and pension plans at multiple financial institutions, you may want to consider consolidating your accounts. Our CFS* Financial Advisor, Alicia Knape, can answer your rollover questions and help you find ways to

  • Potentially save money on annual fees
  • Allocate, diversify, and rebalance in one portfolio
  • Improve your estate planning
  • Simplify required minimum distributions

Income Strategies in Retirement

There are several possible solutions available for those who need to increase their income during their non-working years. Our CFS* Financial Advisor, Alicia Knape, can help you overcome challenges and stretch your retirement income by

  • Designing a retirement plan
  • Uncovering your basic expenses and discretionary expenses
  • Evaluating current sources of retirement income
  • Identifying potential gaps between income and expenses
  • Anticipating fixed and discretionary expenses in retirement
  • Positioning assets to help generate income
  • Uncovering new sources of income

Estate Planning

Estate planning is a crucial part of financial planning. Once you’ve planned retirement and invested wisely, it’s time to focus on how your assets will be managed after your death. Our CFS* Financial Advisor, Alicia Knape, can help you feel confident that your assets will be distributed the way you desire. Regardless of the size of your estate, Alicia can help you make decisions about

  • Where your assets will go when you pass away
  • Who will take care of your finances when you are no longer able to do so
  • Who should be responsible for taking care of your children if you become unable to care for them yourself
  • Who should make decisions on your behalf if you become unable to care for yourself
  • What will happen to your remains after you die

Saving for College

For many grandparents, contributing to a grandchild’s education is a special joy. Our CFS* Financial Advisor, Alicia Knape, can help you understand the different plans that are available to help you finance college or other institutions, including:

  • 529 Plans+
  • Coverdell Education Savings Accounts
  • UGMA & UTMA Custodial Accounts for Minors
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor.  Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. For specific tax advice, please consult a qualified tax professional. Privacy Policy
^ Before deciding whether to retain assets in an employer sponsored plan or roll over an IRA an investor should consider various factors including, but not limited to:  investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock.
+Investors should consider investment objectives, risks, and charges associated with Section 529 plans prior to investing.  Most 529 plans are sponsored and administered by states.  State tax benefits vary among the states, and some offer residents additional tax benefits if they invest in their own state plan.  Consult your tax adviser for more information.
CUSO Financial Services, L.P. (CFS) does not provide tax or legal advice.  For such guidance, please consult your tax and/or legal adviser.
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