Be an Early Saver Save Less and Retire With More Money ... - BECU
Be an Early Saver Save Less and Retire With More Money ... - BECU Be an Early Saver Save Less and Retire With More Money ... - BECU
THE CREDIT UNION DIFFERENCE BECU Seafair Ambassador Program Symposium IF YOU’RE A high school sophomore or junior, please join us on March 15 at Qwest Field for the BECU Seafair Ambassador Program Symposium. You’ll learn what it’s like to work in a variety of industries, get a chance to earn scholarship money, or even win a trip to Japan. Jumpstart your future today! Win College Scholarships! Six students will be selected to receive a $1,000 college scholarship at the university of their choice. Win a Trip To Japan ! Six students will be selected to serve for a year as Seafair Ambassadors. They will represent the festival on a once-ina-lifetime international trip to Kobe, Japan in the fall of 2008. It’s a unique opportunity to learn about international relations with community and business leaders in Seattle’s sister city. Seafair Ambassadors will meet Japanese government officials, visit local high schools and visit famous historical sights in the beautiful city of Kobe. Amazing Speakers The Symposium offers you the chance to plan for your future and hear Seattle business executives discuss topics that affect our world today. Make a Difference in Your Community Get involved with the community by volunteering your time. The BECU Seafair Ambassador Program Symposium will also feature a volunteer expo where you can meet with several non-profit organizations from the Puget Sound area to learn how you can become involved, earn high school credit and make a difference through community service. WHAT: BECU Seafair Ambassador Program Symposium WHEN: Saturday, March 15, 2008 (8am – 3pm) WHERE: Qwest Field EXTRAS: All students will receive a water bottle, portfolio and lunch. COST: It’s free! REGISTER: Visit www.seafair.com to register or to get more information. BECU Annual Meeting ALL MEMBERS ARE invited to attend BECU’s 72 ND Annual Meeting held on Wednesday, March 19. The meeting will be held in the second floor auditorium NEW ATM LOCATION at the Tukwila Financial Center and will begin promptly at 5pm. All BECU members are invited to attend. No RSVP is necessary. BECU is pleased to announce our new Snapshot ATM located at Antioch University, 2326 6th Avenue, Seattle. 4 MARCH 2008 more
BECU SOLUTIONS Save Less and Retire with More Money IT MAY SOUND too good to be true, but it really is a fact that if you start saving at an early age, you can retire with more money. And we can show you how. In February’s newsletter, we included an article entitled Make Planning for Retirement a Priority that stressed the importance of saving, and described the different options available at BECU. This month, we want to share with you how big of an impact saving at an early age can make on your retirement savings. The following chart demonstrates that someone who contributes to an IRA for only 10 years starting at age 20 can accumulate more retirement savings than someone who contributes to an IRA for 32 years starting at age 30. * Value at Age 62 1,300,000 — 1,100,000 — 900,000 — 700,000 — 500,000 — S A V I N G F O R RETIREMENT $1,186,994 Brittany $831,464 Chelsea Submitted by: Jennifer M., Newcastle, DE Brittany Invests from Ages 20 to 29 >> $5,000 a year for 10 years ($50,000 total) >> $1,186,994 accumulated by age 62 Chelsea Invests from Ages 30 to 61 >> $5,000 a year for 32 years ($160,000 total) >> $831,464 accumulated by age 62 The same concept applies no matter what two ages you compare. Whether you’re in your 20’s, 30’s, 40’s or older, the earlier you start saving, the more you can accumulate for retirement. It’s called the power of compounding, and it simply means the more time your savings has to earn interest upon previously earned interest, the more your balance will grow. If you don’t currently have an IRA, now is a great time to open one. You can still make an IRA contribution for tax year 2007 until April 15, 2008 and make a contribution for tax year 2008 any time this year. Call 206-439-5700 or 800-233-2328 for more information. Or visit www.becu.org/ira to open an IRA online. * Chart is based on monthly investments of $416.67 totaling $5000 a year, and monthly compounding. Total value is based on an average annual return of 8.5%, which should be typical of someone investing in a mixture of insured and non-insured investments. more MARCH 2008 5
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THE CREDIT UNION DIFFERENCE<br />
<strong>BECU</strong> Seafair Ambassador<br />
Program Symposium<br />
IF YOU’RE A high school sophomore<br />
or junior, please join us on March 15<br />
at Qwest Field for the <strong>BECU</strong> Seafair<br />
Ambassador Program Symposium.<br />
You’ll learn what it’s like to work in a<br />
variety of industries, get a ch<strong>an</strong>ce to earn<br />
scholarship money, or even win a trip to<br />
Jap<strong>an</strong>. Jumpstart your future today!<br />
Win College Scholarships!<br />
Six students will be selected to receive<br />
a $1,000 college scholarship at the<br />
university of their choice.<br />
Win a Trip To Jap<strong>an</strong> !<br />
Six students will be selected to serve for<br />
a year as Seafair Ambassadors. They<br />
will represent the festival on a once-ina-lifetime<br />
international trip to Kobe,<br />
Jap<strong>an</strong> in the fall of 2008. It’s a unique<br />
opportunity to learn about international<br />
relations with community <strong>an</strong>d business<br />
leaders in Seattle’s sister city. Seafair<br />
Ambassadors will meet Jap<strong>an</strong>ese<br />
government officials, visit local high<br />
schools <strong>an</strong>d visit famous historical sights<br />
in the beautiful city of Kobe.<br />
Amazing Speakers<br />
The Symposium offers you the ch<strong>an</strong>ce<br />
to pl<strong>an</strong> for your future <strong>an</strong>d hear Seattle<br />
business executives discuss topics that<br />
affect our world today.<br />
Make a Difference in<br />
Your Community<br />
Get involved with the community<br />
by volunteering your time. The<br />
<strong>BECU</strong> Seafair Ambassador Program<br />
Symposium will also feature a volunteer<br />
expo where you c<strong>an</strong> meet with several<br />
non-profit org<strong>an</strong>izations from the Puget<br />
Sound area to learn how you c<strong>an</strong> become<br />
involved, earn high school credit <strong>an</strong>d<br />
make a difference through community<br />
service.<br />
WHAT: <strong>BECU</strong> Seafair Ambassador<br />
Program Symposium<br />
WHEN: Saturday, March 15, 2008<br />
(8am – 3pm)<br />
WHERE: Qwest Field<br />
EXTRAS: All students will receive a<br />
water bottle, portfolio <strong>an</strong>d lunch.<br />
COST: It’s free!<br />
REGISTER: Visit www.seafair.com to<br />
register or to get more information.<br />
<strong>BECU</strong> Annual Meeting<br />
ALL MEMBERS ARE invited to attend<br />
<strong>BECU</strong>’s 72 ND Annual Meeting held on<br />
Wednesday, March 19. The meeting will<br />
be held in the second floor auditorium<br />
NEW ATM LOCATION<br />
at the Tukwila Fin<strong>an</strong>cial Center <strong>an</strong>d<br />
will begin promptly at 5pm. All <strong>BECU</strong><br />
members are invited to attend. No RSVP<br />
is necessary.<br />
<strong>BECU</strong> is pleased to <strong>an</strong>nounce our new Snapshot ATM located at<br />
Antioch University, 2326 6th Avenue, Seattle.<br />
4 MARCH 2008 more
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