Branch lobbies now have expanded appointment-only services & drive-thrus remain open. Learn more here.

Find answers to our Frequently Asked Questions.
Posted January 10, 2020

Finding a job is a college graduate’s top priority. When the good news comes along, the last thing on your mind is retirement. You’re focused on paying your rent, bills, and student loans while trying to build your career. We get it and we’ve been there.

We want to let you in on a little secret though: saving for retirement early pays off in a big way due to a little something called compound interest. Einstein called it the eighth wonder of the world; he was right. Find out what you need to do today to enjoy tomorrow to the fullest.


The book How to Turn $100 into $1,000,000 illustrates how saving early goes a long way. The book gives an example in which one person, Jackson, saves $1,000 per year starting at age 15, and another person, Layla, begins saving $3,500 per year starting at age 30. They both earn 8%, invest until age 70, and hit the $1,000,000 mark. Hooray!

While they both have the same amount in the end, Jackson only had to save $55,000 (and earned $945,000 in compound interest) while Layla saved $140,000 — an $85,000 different. It’s not always easy to see how compound interest can make your money work for you, but it does. The longer your money earns interest and that interest earns interest, the better.

Set up an account.

If your employer offers a 401K, take advantage and sign up. They may even match contributions up to a certain percent. If this option is not available or you want to save more, open an Individual Retirement Account and make your contribution automatic. If you prefer, start small and gradually increase your contributions.

Invest appropriately.

When we’re young, time on our side and we can choose investments with more risk but higher potential returns. It’s normal for investments to rise and fall over time and it’s not until the investment is sold that you lose or make money. Most retirement plans have different portfolios to suit different risk levels. Ultimately, it is up to you to select the portfolio or investments that align with your risk tolerance.

Speak to an expert.

Financial advisors know the ins and outs of different types of investments and can help guide you in building your financial plan. Talk to an advisor about both short-term and long-term investments. Together you can determine what best fits your needs while exploring options that can get you where you would like to be. To get started, members of A+FCU can take advantage of a free consultation with an A+ Wealth Management advisor.

Securities offered through SWBC Investment Services, LLC, a registered broker/dealer. Member SIPC & FINRA. Advisory services offered through SWBC Investment Company, a Registered Investment Advisor. SWBC Investment Services, LLC & SWBC Investment Company are not affiliated with this institution. Securities are:

  • Not NCUA/NCUSIF Insured
  • Not ESI insured
  • Not Guaranteed by the Credit Union
  • Not a Deposit
  • Not insured by any Federal Government Agency
  • May Lose Value