SIU Credit Union Blog

Tag: Certified Financial Planner

Don’t Let Money Worries Rob You of Sleep

Money worries are rampant among Americans.

A recent survey by Ohio State University found that 70% of the nearly 19,000 students surveyed reported feeling stressed about money. Half worried about not having enough money for daily expenses, and 60% were anxious about the cost of tuition.

But it’s not just college-age adults who worry about money. Another recent survey byCreditCards.com found that 62% of Americans were losing sleep over their financial problems.

The most common fears they expressed were not having enough money for retirement and educational expenses. If you find that money worries are keeping you up at night, here are some steps you can take:

1. Ask yourself some questions.

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THE CURRENT CD QUANDARY: Today’s yields can’t beat inflation.

Scott McClatchey, CFP®
SIU Credit Union Investment Services

CD investors are effectively losing money. According to Market Rates Insight, a research firm tracking bank rates, annualized inflation has surpassed long-term certificate of deposit rates since February. In April, 12-month inflation hit 3.16% while the highest-yielding 5-year callable CD on the market offered a 2.4% interest rate. May’s Consumer Price Index put annualized inflation at 3.6%; as of mid-June, the highest-yielding nationally available 5-year CD was at 3.05% APY.1,2,3

Still, the Federal Reserve found that almost $9 trillion of American wealth was held in CDs, bank accounts and various FDIC-insured products as of April.4

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Free Seminar: 9 Mistakes to Avoid for a Successful Retirement.

Join SIU CU Investment Services‘ CERTIFIED FINANCIAL PLANNER™ Jeff Rose as he discusses the key to a financially successful retirement.The free seminar is 12 p.m. to 1 p.m. on Wednesday, March 24 at 395 N. Giant City Road, Carbondale. Lunch will be provided and seating is limited. To RSVP, contact Lisa at 618-549-8621.

Visit our new Investment Services webpage to learn what  Jeff Rose CFP®, can do for you. Click here to visit the new web page.

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