Your dreams are our dreams. When we’re able to help you afford your dream home, send your kid to college, retire early, drive off in your new car – that’s what makes us happy. Several of our employees were recently recognized for doing just this. We had 13 inductees into the 2013 President’s Circle for outstanding service in helping our Members achieve their dreams.
- Mike Orsomarso
- Mary Beth Geglia
- Melissa Sack
- Ashley Dever
- Sue Maxam
- Kim Crye
- Peter Berowski
- Dawn Arabia
- Russ Hayes
- Cheryl Sylvester
- Julieann Maciag
- Girlie Ann Baldwin
- Mel Greiner
It Pays to Save Early…Literally
February 18th, 2014
‘Compound interest’ is a term it is very good to be familiar with, especially if you’ve just started your first job. Let’s say you’re in your early 20’s, just graduated from college and got a job making roughly $35K. You save about $5,000/year for retirement. Let’s say you do this for 10 years saving $50K. Then something happens, you have a life change and end up not contributing any more to this initial savings. Your existing savings will still continue to grow until you retire when you’re 65.
Now let’s say instead, you were unable to save right away. But at around 40 you had a secure job making roughly $75K, and now you could start to save. So you save $10K/year for 10 years, saving $100K. At 50, you have a life change and cannot contribute any more. But your initial savings grow until you retire at 65.
In both scenarios, let’s say your investment grew at 10%/year. At age 65 your totals would be very different. The “you” who started saving in your early 20’s would have a little over $1 million to retire. The “you” who started saving at 40, even though you contributed more, would have only a little over $500,000.
Time. Investments take time to grow and the longer you have, the better. So even if it doesn’t seem like much, it’s better to start saving even a little now, than waiting to save more later.
Want to know more and see what will work best for you? Talk to our friends at Choice Investments. They’ll customize a plan that works within your budget. It’s never too early to start. Call them today at 315-732-7200.
National Wear Red Day
February 7th, 2014
Today is The American Heart Association’s National “Go Red” Day and First Source is proudly be participating. This is a day when our employees wear red and our physical branches will be sporting the color too. We do this to help raise awareness of heart disease in women. Many of our employees and Members are women. It is important to us to help educate them as well as the greater community on taking care of yourself and knowing the signs of a heart attack.
Women tend to take care of others, putting their family, friends and jobs first. Inevitably, this means they are putting themselves last. Women need to focus on themselves too. They need to listen to their bodies. Sometimes the very symptoms of a heart attack can be perceived as stress and are often ignored.
First Source is honored to do our part to empower, educate, and encourage women to take charge of their health. Join us in supporting the American Heart Association and the Go Red for Women movement on May 7th at the Go Red for Women Luncheon at Hart’s Hill Inn. This will be First Source’s fifth year as the Luncheon’s Presenting Sponsor.
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