Welcome to Global Credit Union  Mon - Fri  8 am - 6 pm  Planning
for Retirement  While saving and investing for your retirement
can be complicated, in most cases it doesn’t have to be. A
simple, step-by-step approach can help you build up an
impressive sum with a surprisingly small amount of effort and
outlay.  Start early  The sooner you begin to set money aside
for your retirement, the longer your investments have to grow.
By starting early you have the most powerful force in
mathematics working for you: compound interest. With it,
interest is calculated not only on the deposits you make but
also on the accumulated interest from prior periods.  Compound
interest works best over time, which is why starting early is
key. For example, if you were to put aside $100 per month
beginning at age 30 you’d have about $216,000 at 65, assuming an
8 percent annual return. However, if you wait ten years, you’d
have just $91,000 saved. The difference in contribution amount
is small: $12,000 ($100 each month for 10 years)