Unity One Credit Union

Unity One CU informs: The Dow may have dropped, but don't drop out!

Thu, Feb 08, 2018 @ 12:48 PM / by Alyssa Guillory posted in certificate of deposit, wwk wealth advisors, Unity One Credit Union

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Bill_Fairley.jpg

 

 

 

 

 

 

Bill Fairley -
WWK Wealth Advisors

 This week, the Dow Jones Industrial Average dropped in a way that it never had before. Monday, the benchmark fell 1,175 points, taking the greatest tumble in its long history. At one point, it was down 1,500 points during the trading day. While Monday’s Dow loss was indeed severe, it was not as catastrophic as certain headlines trumpeted.

The index fell 4.6%, which is today’s equivalent of a 652-point dive back in October 2007 when the Dow reached its pre-recession closing peak of 14,164.43. For some recent perspective, consider that the Dow took a 610-point dive the day after the United Kingdom voted for the Brexit in 2016 – and over the following 20 months, it ascended to record heights.

The Dow actually witnessed an intraday correction Monday. At the bottom of the plunge late in the trading session, it was at 23,923.88, which was 10.1% beneath its last record close of 26,616.71 on January 26. It finished Monday’s trading day off 8.5% from that January peak.

 

The S&P 500 finished Monday at 2,648.94, about 7% below its last record close of 2,872.87.

Corrections happen. It has been so long since the last one (early 2016), many investors have forgotten the frequency with which they normally occur. Corrections can counteract irrational exuberance, and bring some rationality back into the market, which can be good for Wall Street’s collective health.

Fundamental economic data is still strong: as an example, the Institute for Supply Management’s service sector purchasing manager index just came in at 59.9 for January, a 13-year high. Just one of many recent strong indicators.

Pullbacks and corrections will always occur on Wall Street, and sometimes the bulls turn tail and run. It is part of the long-term story of the market. This Dow pullback was extraordinary in its four-digit depth, which was to be expected someday with the index above 26,000.

This is a moment in stock market history – and thankfully, not the norm in that long history, as any glance at stock market cycles will reveal. At times like these it’s a good idea to avoid making hasty decisions, keep the long term in perspective, and realize that corrections are part and parcel of stock market investing.

If you're apprehensive about getting or staying in the market, check out Unity One's 15-month CD Special going on now for a limited time! It's an easy way to increase your savings with no extra work on your part.

Invest Today!

About Unity One Credit Union

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals. 

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has nine branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™

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Credit union informs: Investing for #FirstTimers

Fri, Jun 05, 2015 @ 08:30 AM / by Alyssa Guillory posted in retirement, wwk wealth advisors, #FirstTimers, Unity One Credit Union

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You’ve probably been told at least a few times in your life that you should be putting money aside “for a rainy day”, but perhaps it hasn’t yet crossed your mind to begin planning, specifically, for your future retirement. If you think it’s too early, or if you feel you’re not yet ready, financially … think again. Even with a certain amount of debt from car payments, student loans, and living expenses, there are several different ways that a young person can invest their money (and their time) wisely.

While it’s true that some people begin investing later in life and still manage to enjoy comfortable returns on their investments, one only needs to see a few friends have financial troubles to realize that things don’t always work out that way. Investing earlier in life can sometimes make the difference between retiring when you are ready and retiring when you are able; while you may be healthy well into your senior years, that’s not always guaranteed.

401(k)s and Roth IRAs. Many employers offer 401(k) plans, which are retirement savings accounts. You may be fortunate enough to find a job where the employer offers matching contributions to the plan. 401(k) plans are fairly versatile and, since the contributions are generally not taxed until disbursement, your take home pay may not seem quite so diminished.1

Another investment which can go a long way is the Roth Individual Retirement Account (IRA). Since the money is taxed before deposit, the funds can be enjoyed tax-free upon retirement. One other feature is flexibility: you have the option to withdraw the money you have deposited (though not the earnings) without penalties, making the Roth IRA a potential source of emergency funds.2

A powerful force. Perhaps the greatest advantage to investing at an early age is the effect that compound interest can have on your savings. A long disputed quote has Albert Einstein claiming that compound interest “is the most powerful force in the universe.” Regardless of who actually said it, there is some truth to the joke.

What makes compound interest special?  It is interest based not only on the principal, but from previously accrued interest. In the short term, it’s not terribly impressive, but over thirty years or more, it can produce a handsome dividend.

Great minds have been fascinated with compound interest for generations. Founding Father Benjamin Franklin, who liked to posit that a penny saved was a penny earned, decided to put it to the test. At his death in 1790, he bequeathed £1000.00 each to the cities of Boston and Philadelphia, with intent to build trade schools and public works projects in one-hundred years’ time. Compound interest did the trick, netting $572,000 for those cities in 1891.  The fund was closed in 1990, with institutes named for the statesman and scientist earning a $7 million dollar bounty.3

Making it work for you. If you were to place a small sum of money into a bank account that offers compound interest and leave it alone for a long period of time as Franklin did, your money would grow. For example: $100.00 left alone in the bank for thirty years at a 10% annual compounded interest rate would multiply to $1,744.94.4 

However, if you were to add money to the account over time, the compounded interest would only grow and could create a very healthy supplement to whatever other retirement plans you may have in place.  Say that you started with $1000.00 in an account offering 15% interest; an account you added $600.00 to per year ($50.00 a month). In 40 years, if you kept up your deposits, the account would hold $1,495,435.86.4

Things to consider. These are hypothetical situations; you may be able to contribute more or less money as time goes on. You may find an account that earns a different level of interest. Inflation needs to be considered as well; just as a million dollars today doesn’t get you as far as it did forty years ago, it may not seem like a lot of money once you’re ready to retire.

There is no guaranteed path to financial security, but a young person has advantages that shouldn’t be squandered. A combination of investments, with an eye to the long-term, can make all the difference.

Bill Fairley

Sean Weaver

This article was presented by Bill Fairley and Sean P. Weaver of WWK Wealth Advisors. Bill Fairley & Sean P. Weaver, CFP® are Investment Advisors with WWK Wealth Advisors, a Registered Investment Advisor and may be reached at 817-336-6300 or www.wwkllc.com

Register Now!

*The views and opinions expressed at this event are those of WWK Wealth Advisors and not necessarily of Unity One Credit Union. 

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Credit union informs: Introduction to Investing Class

Tue, Apr 14, 2015 @ 09:34 AM / by Alyssa Guillory posted in financial education, wwk wealth advisors, #FirstTimers, Unity One Credit Union, investing basics

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describe the imageStocks? Bonds? Money Market accounts? How do you know which option is right for you? 

It's easy to feel overwhelmed when thinking about the different retirement savings options available. Join us on Tuesday, April 21, at our North Tarrant branch as we discuss ways to save for your dream retirement. We will have representatives from WWK Wealth Advisors on-site to teach you tips and tricks to make the most out of your retirement money. 

This class is perfect for both beginners and seasoned investors. All ages are invited to attend. Light refreshments will be served.

Attendees will be entered to win great door prizes!

Register Now

ABOUT UNITY ONE CREDIT UNION

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals.

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has seven branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™ www.unityone.org

 

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Credit union informs: Investing for retirement

Tue, Feb 24, 2015 @ 02:35 PM / by Alyssa Guillory posted in retirement, wwk wealth advisors, Unity One Credit Union

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F.E. Class - FebHow much money do I need to begin investing? Where should I put my retirement money? Stocks? Bonds? What's the right mix?

If you find yourself asking these questions, Unity One can help! We have partnered with WWK Wealth Advisors to help make sense of investing. We know that success in retirement requires careful planning and investing. Together, we want to help our members reach their retirement goals.

Here are a few important tips, whether you're new to investing or just like a quick refresher, to follow when investing for retirement:

  • Consider the lifestyle you hope to lead. You may need between 60% and 80% of your final working year’s salary each year during retirement to achieve your goals. 
  • Consider the inflation factor. Assume that inflation will average about 4% in the future. Develop and refine your plan through the years, keeping in mind that inflation can potentially spike or dip substantially in the short term. 
  • Develop your retirement plan to include stocks, bonds and money market accounts. Each asset class has different risks and return characteristics, so determine your risk tolerance and plan accordingly. An aggressive mix may include 10% money market instruments, 10% bonds and 80% stocks while a conservative mix may include 20% money market instruments, 50% bonds and 30% stocks. 
For more financial tips, join us at our next FREE financial education class. 
Register Now!

ABOUT UNITY ONE CREDIT UNION

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals.

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has seven branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™ www.unityone.org

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Credit union informs: FREE Investment Fundamentals class

Tue, Feb 03, 2015 @ 08:35 AM / by Alyssa Guillory posted in retirement, financial education, wwk wealth advisors, saving money, Unity One Credit Union, family's financial future

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Financial Ed - Feb 2015Join Unity One Credit Union and WWK Wealth Advisors at an informative workshop on how to pursue your retirement goals. It's never too soon - or too late - to start!

No matter what your age, this workshop will provide you with insights and techniques that can help you manage your retirement investment plan. 

When: Tuesday, February 17, 2015
            6:30 - 8:00 p.m.

Where: Unity One Credit Union
             6701 Burlington Blvd.
            Fort Worth, TX 76131

Register Now!

*The views and opinions expressed at this event are those of WWK Wealth Advisors and not necessarily of Unity One Credit Union. 

ABOUT UNITY ONE CREDIT UNION

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals.

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has seven branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™ www.unityone.org

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Credit union informs: Paying for college while saving for retirement

Tue, Jan 20, 2015 @ 10:30 AM / by Alyssa Guillory posted in Fort Worth, financial education, wwk wealth advisors, financial literacy, Unity One Credit Union

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shutterstock 70550551 blogIt can be done. All across America, families are meeting a mighty financial challenge – the challenge of paying college costs with retirement potentially on the horizon. How do they do it? They go about it consistently; they also get creative.

First, make sure the priorities are in the right order. Strange as it may sound, your retirement may need to take precedence over your child’s college education.

Think about it. Your son or daughter might qualify for student loans or financial aid. By the time they are 30 or 35, they will have the earnings potential to pay those loans back. Do you see any ads out there for “retirement loans” or “retirement aid”? For most, it is much harder to earn money at age 65 than at age 35. Because of this, many choose to allow the younger generation to assume the debt.

The following are some short-term and long-term ideas you may want to consider if you have college costs on your mind:

Save for college the DCA way. While dollar-cost averaging is a useful way to build retirement savings, its merit often goes unrecognized when it comes to saving for higher education. If you could put $40 a month even in a basic savings account with a tiny interest rate, over 10 years that is approaching $5,000. That’s nothing to sneeze at, and will certainly help out. Move the money from a checking account each month into a savings account, or …

Consider a tax-advantaged college savings plan. Contribute to a 529 plan, which features tax-advantaged growth and tax-free withdrawals when the withdrawn funds are used to pay qualified education costs. Not all 529 plans are the same – in fact, some of them will even provide a small cash “match” or “sign-up” bonus when you start your plan. Some 529 plans are even “prepaid” – that means you may be able to secure future tuition rates at current prices, usually at in-state public colleges. Another advantage of the prepaid plans – they are often guaranteed by the state.

Exploit your credit card. No, don’t pay for college with it … well, at least not directly. Some credit cards give you a cash-back rewards option. You may as well put the rewards toward college. Some of the major banks let you do this and so do online shopping websites such as Upromise.

Keep your income as low as possible in the base income year. That is the calendar year that starts as your child is in the middle of his or her junior year in high school. That is the year when college financial aid departments start to look at a family’s earned and received income. If you can avoid taking capital gains or a distribution from a 401(k) or 403(b) in that year, that will keep your taxable income low. Will Roth IRA conversions raise eyebrows? Yes, they will.

However, don’t stop contributing to your own retirement savings accounts, and feel free to pay off consumer debts with the money from your savings and checking accounts – the assets in these accounts aren’t used in financial aid formulas.

Let the college know if your financial situation has changed. Has the value of your home fallen? Is your business netting you far less than it once did? Financial aid departments should be willing to review these developments and may be able to adjust aid for your student accordingly.

Make it a family affair. In some cultures, it is common for all members of a family to pitch in on the down payment or mortgage payments for a home. Consider this strategy as your family saves for college. Close friends and family members may be willing (or even excited) to make ongoing contributions to a college savings plan for your child, and/or an annual “birthday” contribution. They may find giving such a gift to be much more meaningful and fulfilling than a mere toy or item of clothing.

In short, hunting for every scholarship or alumni connection you can and finding a great school at a reasonable price – that’s important. But it may be just as useful (if not more) to be both creative and consistent as you save for college. While it has always been a challenge, by putting some thought into it, most families and students can find ways to respond.

Bill Fairley

Sean Weaver

This article was presented by Bill Fairley and Sean P. Weaver of WWK Wealth Advisors. Bill Fairley & Sean P. Weaver, CFP® are Investment Advisors with WWK Wealth Advisors, a Registered Investment Advisor and may be reached at 817-336-6300 or www.wwkllc.com

Register Now!

*The views and opinions expressed at this event are those of WWK Wealth Advisors and not necessarily of Unity One Credit Union. 

 

ABOUT UNITY ONE CREDIT UNION

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals.

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has seven branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™ www.unityone.org

 

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Credit union informs: Budgeting for #FirstTimers

Wed, Jan 14, 2015 @ 12:26 PM / by Alyssa Guillory posted in financial education, wwk wealth advisors, #FirstTimers, Unity One Credit Union, save money, financial decisions

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Moving into apartmentWhen it comes to money, there's certainly no shortage on ways to spend it - food, rent, retirement savings, entertainment. In fact, there are so many ways to spend money it can become confusing. 

Following a simple budget now can help make sure you don't make a mistake that could drastically limit your financial options for years to come. 

1. Rent - 25-35%. Sean Weaver, certified financial planner at WWK Wealth Advisors, suggests spending "no more than 25-35% of your income on your rent or mortgage." What you spend on housing can easily upset your whole budget, so be careful to not overspend. 

2. Essentials - 15-25%. Depending on how much you spend on housing, this amount can vary. Essentials can include items such as insurance, utilities and loan payments. You should aim to spend no more than 50% of your total take-home pay on rent and essentials.

3. Goals - 20%. Consider putting at least 20% of your take-home pay towards your financial goals - saving for retirement, paying down credit card debt and building an emergency fund. Aim to automate your savings each pay period for an easy way to save consistently.

4. Lifestyle Choices- 30%. It doesn't really matter what you spend your money on in this category - latest fashion trends, newest technology gadgets, dining out with friends - as long as you're aware of what you are spending. The less you spend, the easier it is to achieve financial freedom.

Follow Unity One on Twitter @UnityOneCU for more updates to our #FirstTimers series. 

Follow Unity One on Twitter

ABOUT UNITY ONE CREDIT UNION

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals.

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has seven branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™ www.unityone.org

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Credit union informs: FREE College Planning and Funding class

Tue, Dec 30, 2014 @ 02:30 PM / by Alyssa Guillory posted in financial education, wwk wealth advisors, Unity One Credit Union, family's financial future

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Financial Education SeminarsAre you concerned about the rising cost of tuition? You are not alone. Recent surveys indicate that saving for college is a primary financial goal for most Americans.

Join Unity One Credit Union and WWK Wealth Advisors at an informative workshop that will help you better understand the education savings and gifting options available. You'll learn about 529 College savings plans, a tax-advantaged way to save for college.

When:  Tuesday, January 13, 2015
           6:30 - 8:00 p.m.

Where: Unity One Credit Union
           4625 North Tarrant Parkway
           Fort Worth, TX 76244 

RSVP to this FREE event


*The views and opinions expressed at this event are those of WWK Wealth Advisors and not necessarily of Unity One Credit Union.
 

ABOUT UNITY ONE CREDIT UNION

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals.

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has seven branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™ www.unityone.org

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Credit union informs: Retirement Planning Seminar

Thu, Oct 16, 2014 @ 03:00 PM / by Erayne Hill posted in credit union, wwk wealth advisors, unity one

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Retirement Planning Seminar

For adults 50 to 70 years of age
When:
Tuesdays - October 21 & 28
6:30 - 9:30 p.m.
Thursdays - October 30 & November 6
6:30 - 9:30 p.m.
Where:
Roanoke Recreation Center
Instructor:
Sean P. Weaver, CFP, MBA, Investment Advisor with WWK Wealth Advisors
A registered investment advisor
Tuition:
$49 (Advance registration is required.)
How to Register:
Call 817.768.2050 to register.
Visit www.wwkllc.com for more information.
Topics:unity one credit union
  • Life Planning for Retirement
  • Retirement Needs and Expenses
  • Retirement Roadblocks and Mistakes
  • Retirement Income Sources
  • Retirement Plan Distributions
  • Investments
  • Risk Management & Asset Protection
  • Estate Planning
This e-mail is for information only.The views and opinions expressed at this event are those of WWK Wealth Advisors and not necessarily of Unity One Credit Union.
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