Investing 101
Check out these eight steps to a better financial future:

1. Educate yourself about financial matters. You don’t have to become an expert; you just have to become an informed consumer. Attend a public seminar on retirement planning. Read the financial columns in the magazines and newspapers. Ask questions.
   
   
2. Start now. The money you save today will have a chance to compound; that is, to earn money on the original principal and on any interest or earnings.
   
   
3. Know your risk comfort level. Don’t let anyone talk you into investing in something you don’t understand, or investing so aggressively that you are kept awake nights with worry.
   
   
4. Watch out for the taxman. There are many ways to invest without incurring an immediate tax on your earnings. Eliminating or deferring taxes gives the potential to build a bigger nest egg. Learn about such tax-advantaged investments as 401(k) plans, Roth IRAs, municipal bond funds, and annuities.
   
   
5. Take advantage of employer plans. If you are a business owner, consider offering a retirement plan that both you and your work force could benefit from. If you are an employee, be sure to take advantage of any plan that may be in place.
   
   
6. Squeeze pennies. Everyone’s budget has some fat. Is yours a daily latte? Going to the movies, horseback riding or clothes shopping? Identify where you can cut back, and direct those savings to a monthly investment program.
   
   
7. Work with a financial professional. Ask colleagues and family members for referrals to an investment counselor. Interview at least three individuals. Ask what licenses they carry, how long they have been in the business, and whether they have ever had a complaint lodged against them, among other questions.
   
   
8. Take control of your financial future. No doubt you’ve succeeded at much in life: in school, sports and business; and with family and friends. You can help build a more secure financial future for yourself.
   
   

Start Today!

^*For tax advice, consult a qualified tax professional.
Products and services offered through CUSO Financial Services, L.P., are not NCUA or NCUSIF insured, not credit union guaranteed, and may lose value. Financial advisors are employees of Space Coast Credit Union and registered representatives of CFS. Space Coast Credit Union is in partnership with CFS. (Member FINRA/SIPC).

The information on this page is for educational purposes only. SCCU is not engaged in providing estate planning or other advice. Please consult with a competent estate planning professional regarding any specific estate planning questions.