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Attention young adults: if you saved $140 a month starting today, you could be a millionaire by the time you retire.
No joke — just look at the chart below. Your age can give you a HUGE advantage if you start now;
it all has to do with compound interest and time.
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| Years |
Investment ($140/mo) |
Total balance w/
8% APY |
| 10 |
$16,800 |
$25,380 |
| 20 |
$33,600 |
$80,172 |
| 30 |
$50,400 |
$198,466 |
| 40 |
$67,200 |
$453,853 |
| 50 |
$84,000 |
$1,005,213 |
This example is hypothetical only and does not represent the actual performance of any particular investment.
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Take the risk & higher returns
Okay, let's be transparent. While Columbia Credit Union offers great, insured IRA certificates and savings accounts*, you're young. You can probably handle some investment risk and, yes, potentiallybenefit from the higher returns
that can potentially come with uninsured investment products, like mutual funds and stocks.
Columbia's Wealth Management department is ready to help you invest. Like caring teachers, our
representatives will demystify investment choices and help you pick accounts that best fit your
personal goals. Schedule an appointment online or call 360.891.4093.
In 50 years (sooner if you save more now), you could be the "millionaire next door." Calculate other
savings goals using our online calculator tool.
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Automate It
Sure, you have good intentions to save, but it can be hard to start the habit. Therefore, ask us to set up automatic withdrawals.
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Securities are offered through Financial Network Investment Corporation, a registered broker/dealer
and Member SIPC. Financial Network is not affiliated with Columbia Credit Union or its subsidiaries.
The Financial Network Registered Branch is located at 3003 NE 62nd Ave. PO Box 324, Vancouver WA 98666.
Not NCUA/NCUSIF Insured . May Lose Value . Not a Deposit . No Credit Union Guarantee
. Not Insured by Any Federal Government Agency.
*See details & disclosures for insured IRA products.
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