Money Talks E10: Retirement & Investments

In the final episode of “Money Talks,” Lila covers savings and investments. Saving and investing come in two flavors—short-term and long-term savings.

Important Takeaways

  • Short-term savings, which are achieved in a relatively short period of time, can be placed in conventional savings accounts, certificates, or money market accounts. These short savings goals are often used for the following:
    • Building an emergency fund
    • Putting a down payment on a car
    • Saving for a vacation

Long-term savings goals like retirement can take decades to reach. Thankfully, long-term savings vehicles feature compound interest, which helps your money grow exponentially. The two most common account options are Individual Retirement Accounts (IRAs) and Employer-sponsored accounts like 401Ks, both of which allow tax-deferred contributions.

The earlier you start saving and investing (and get a conversation started with your trusted financial institution), the easier it will be to reach your ultimate goals.

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Nondeposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Nondeposit investment products offered through CFS are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. SELCO Community Credit Union has contracted with CFS to make nondeposit investment products and services available to credit union members.