The ball dropped, the celebration toast was made, and we are thrilled to be working together again in 2023! Most of us are setting goals for the new year, with financial plans at the top of the list. Many reports indicate that over half of Americans struggle to make ends meet with the drastic rise in the cost of living, leaving many doubtful about their financial well-being. This is likely affecting those you serve. Here is how BALANCE can help:
Research shows that the average American is unprepared for retirement. In partnership with Cornerstone Foundation, we have designed this interactive workshop based on real-life outcomes through the decades (20’s, 30’s, 40’s, 50’s, 60’s).
FINANCIAL HEALTH CHECK-UP
We all know routine health check-ups are important. Financial well-being is no different. Start the year strong by connecting with our certified financial counselors and encouraging your network to do the same.
INVEST EARLY AND OFTEN
There is a reason Albert Einstein called compound interest the eighth wonder of the world. The earlier you begin investing, the longer your contributions have time to grow. If you started investing $100 per month in a vehicle earning an average return of 7% a year, in 30 years, you would have $113, 352 ($36,000 in contributions and $77, 352 in interest earned). Think of investment vehicles like mugs; you get to pick the color and size that you like. You can choose your favorite investment (401k, IRA, HSA, etc.) Wondering what to pour inside the mug? You can choose from stocks, bonds, index funds (basket of stocks), or ETFs (Exchange Traded Funds) that can be purchased and sold the same way that a regular stock can. Interested in learning more?
YOUR PATH TO FINANCIAL FITNESS STARTS HERE
At Coastal Community FCU, we care about your financial wellness. That’s why we’ve partnered with industry-leading BALANCE to provide you with free access to expertly-crafted financial education and resources to help with your fiscal matters. And should you need, BALANCE can assist with confidential, no-cost financial counseling services to help you develop a sensible budget managing spending and debt. For all your financial life stage changes and more, we—in partnership with BALANCE—are here to help.