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Making Smart Choices: Experienced Investors

May 9, 2019

Experienced Investors review their finances.New choices for the future

There are many reasons an experienced investor might seek out investing consultation. If you already have investing experience but aren’t happy with your current situation or results, have questions you aren’t getting satisfactory answers to, want better attention and service, or possibly have additional funds you want to invest, we are here to help.

A big part of continued investing is evaluating your current situation, and making adjustments based on market changes and any changes to your financial life. As a seasoned investor, you can always learn more, improve your investments, and consider new options. We’ll discuss your current level of investment and risk, your goals, and any changes you’d like to make to your portfolio. First Source and Choice Investments invite you to take advantage of our superior experience and Member service.

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Stock Market / Stock Funds, Securities, and Advisory Services are products of Choice Investments LLC and offered through Cadaret, Grant & Co., Inc., a Registered Investment Advisor and Member FINRA/SIPC. Choice Investments LLC and Cadaret, Grant & Co., Inc. are separate entities. You can check the background of these financial professionals through FINRA’s BrokerCheck. First Source Federal Credit Union is not a registered broker dealer and is not affiliated with Choice Investments LLC. 

NOT FEDERALLY INSURED    •    MAY LOSE VALUE    •    NO CREDIT UNION OBLIGATIONS    •    NO CREDIT UNION GUARANTEE 

Funds invested through Choice Investments are not federally insured, may lose value, and are of no way obligations of First Source FCU. Involves investment risk and may involve loss of principal. First Source has no guarantees of securities and annuities products offered through Cadaret, Grant & Co., Inc. Licensed to offer securities in the states of AZ, CO,CT, FL, IA, MA, MD, ME, MI, NC, NY, PA, SC, & VT.

Starting Out: New Investors

May 9, 2019

Begin your journey with smart choices

If you’re young and just getting settled in your career and adult financial life, you may feel you’re finally earning enough to consider investing some of your money. Our first piece of advice is to make automatic deposits from your paycheck into an employer-sponsored 401K or other retirement plan (if your employer makes one available). If your employer matches contributions, it’s an even more attractive investment choice. You'll want to take full advantage of this wonderful investing opportunity. Once you’ve done so and are ready to consider other investments, we will be happy to guide you with some prudent recommendations about your savings. 


Investing Your Savings

Investing always starts with saving. Since there are inherent risks in stock market investing, and greater gains and losses are possible, we encourage beginning investors to set aside enough for their immediate and emergency needs before putting money into the stock market.

When we meet with you, we’ll start with a thorough conversation about your financial standing, well-being, and current needs. We’ll look at your needs for the future, as well as your risk tolerance, and create a unique plan just for you. Part of that plan is working with you to decide how much you can comfortably invest initially, and each month. Investing is a dynamic process that you should adapt to changes in your financial life, so you can increase, decrease, or stop the amount you invest at any time without penalty. We can show you projections of how those changes could affect your future funds.

When investing, think diversification over the longer term. It is recommended to give yourself a minimum of 3-5 years to see how your investments do. Since funds do fluctuate over the short term, longer is better.

Let us and our friends at Choice Investments help put investing principles to work for you, and make a smart start to your investing.

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Stock Market / Stock Funds, Securities, and Advisory Services are products of Choice Investments LLC and offered through Cadaret, Grant & Co., Inc., a Registered Investment Advisor and Member FINRA/SIPC. Choice Investments LLC and Cadaret, Grant & Co., Inc. are separate entities. You can check the background of these financial professionals through FINRA’s BrokerCheck. First Source Federal Credit Union is not a registered broker dealer and is not affiliated with Choice Investments LLC. 

NOT FEDERALLY INSURED    •    MAY LOSE VALUE    •    NO CREDIT UNION OBLIGATIONS    •    NO CREDIT UNION GUARANTEE 

Funds invested through Choice Investments are not federally insured, may lose value, and are of no way obligations of First Source FCU. Involves investment risk and may involve loss of principal. First Source has no guarantees of securities and annuities products offered through Cadaret, Grant & Co., Inc. Licensed to offer securities in the states of AZ, CO,CT, FL, IA, MA, MD, ME, MI, NC, NY, PA, SC, & VT.

Posted in: new investors

It Pays to Save Early

May 2, 2019

A great saving strategy for the long term can be summed up as, “Save early and often.” Why do we hear the advice so often that it pays to start saving early? The key: compounding. Dividend or interest compounding is simply the idea that, as our savings earn interest or dividends, those earnings are added to our total, and the next dividend is calculated on our new total. As a simple example, say you invested $100 at 2.5% interest. When your interest is earned, you’ll add $2.50 to your $100, for a new total of $102.50. Then your next 2.5% interest is on $102.50, which is $2.56, added to $102.50 is now just over $105, and so on. If your account compounds monthly, the total is updated every month, and you earn more as you go. 

To add to this strategy, we recommend in addition to your initial savings, that you add to your savings every month. Once again, the earlier you start the more months you have to save, and the more your savings will grow. As your life and career progress, the more you might earn enabling you to save more every month. All these factors can add up over time, with positive results. 

Our graphical example shows that if you start at age 20, with even with a small initial deposit and relatively small monthly contributions, a smaller investment can yield you more over time than if you waited until you were 40, with a much larger deposit and twice the monthly contributions. 


When Should You Start?

Everyone’s life is different, but the rule is to save as much as you can, as soon as you can, and keep up with your savings. Over time, compounding will reward you. Learn more about our Savings Account Options, and Save Smarter. 

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ATV Financing Pre-Approval

May 29, 2019

Estimating The Right Cost

Putting together an accurate estimate and getting pre-approved for a Recreational Loan for your new ATV or UTV provides you with a number of benefits before and after your purchase. 


Budget For Extras

Whether you’re exploring country trails, snow blowing in the winter, or getting work done on your farm, most tmes you'll want accessories and extras. 

When you estimate how much you’ll need to pay, consider everything from safety equipment and tools, to repair and spare parts add-ons, upgrades, and usually a trailer for towing.

Insurance can also add to your out-of-pocket costs, so think about that as well, to help you budget more accurately. 


Why Pre-Approval?

Once you have considered everything you plan to purchase, bring your estimate to your appointment. 

  • We can help you understand what you may or may not be able to afford

  • If you can’t afford everything now, we can help you make a plan to save for future purchases

  • Pre-approval puts more purchasing power in your hands when talking with the sales rep

Finally, consider how much you can put down up front to reduce your loan payments. If you’re unsure, we can help you budget. 


Explore Smarter 

Learn more about financing your ATV and UTV, and Live Smarter. 

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