Back to School:
Why Students Should Start Retirement Planning Today (Yes, Today!)
Because your future self will thank you for thinking ahead – and so will your wallet.
It’s that magical time of year again, when sunset is arriving just a bit earlier each night, backpacks are being stuffed with fresh supplies, and students everywhere are caught between the excitement of new classes and the crushing realization that summer is over. But while you’re busy packing lunchboxes and picking electives, allow us to drop the most unexpected back-to-school subject on you: retirement planning. Yes, you read that right! Retirement may seem like a lifetime away for students, but getting a head start is both easier and more rewarding than you think, especially with Community Choice Credit Union’s Choice Map at your side.
The Effortless Advantage: Why Early Retirement Planning Is a No-Brainer for Students
Let’s face it: starting a retirement plan is typically not high on the to-do list for most students during the fall semester. But here’s why it belongs much, much higher, because starting early is the very definition of “work smarter, not harder.”
Retirement planning isn’t just for adults with a 9-to-5 job, a mortgage, and an AARP card. In reality, the earlier you start saving, the more your money can grow, thanks to the magic of compound interest. And Community Choice Credit Union makes getting started so convenient, you could practically do it between classes (not that we recommend this).
Think of retirement savings as a snowball rolling down a hill. The earlier you roll it, the bigger it gets by the time it reaches the bottom. Even small, regular contributions to your retirement account can grow into something impressive decades later.
For example, if a 16-year-old student starts saving just $25 a month in a retirement account with an average annual return of 7%, by age 65, they could have over $65,000. Wait until 30 to start saving the same amount? You’ll end up with about $24,000. That’s right, the difference is more than $40,000 just for starting early. As that teenager grows into adulthood, they can increase that contribution to say, $50 a month, $100 a month, or more, and their return at retirement age would be exponentially greater still. Suddenly, retirement planning seems a whole lot more appealing, doesn’t it?
Convenient, Accessible, and Free: Say Hello to Choice Map
Now, you may be thinking, “Okay, it sounds smart, but isn’t retirement planning complicated?” That’s where Community Choice Credit Union comes in with our user-friendly, and, dare we say, fun approach to building your future: Choice Map.
Choice Map is our free financial guidance service featuring real humans to help you save smarter, borrow better, and manage money more clearly. With Choice Map, students and their families work side-by-side with their own dedicated Choice Map Certified Personal Advisor, a highly-trained financial professional certified by America’s Credit Unions. Together, you set personalized targets, explore options, and chart a course for long-term goals, all at your own pace.
It’s a guided journey, not a lecture, and it’s tailored just for you. Maybe you want to save a little from your after-school job, or your parents want to kickstart your savings with a birthday check that’s burning a hole in your pocket. Choice Map is about flexibility and empowerment, making retirement planning accessible, convenient, and, above all, achievable.
Choice Map Is the Easy Choice for Your Future
As summer gives way to another school year, there’s no better time for students and their families to look ahead. Way ahead. Retirement planning doesn’t have to be complicated or intimidating. With Community Choice Credit Union and Choice Map, it’s easy to manage your finances and exciting to explore where your money can take you next.
So, as you charge up your laptop, stock up on school supplies, and get ready for another year of learning, add “plan for retirement” to your checklist. Your future self is cheering you on, and Community Choice is ready to help you every step of the way.
Let Us Show You How Simple Planning for the Future Can Be!
At Community Choice, we make retirement planning simple and within reach, providing you with personalized options for every stage of your journey. We’d love to help you get started and support you as you plan for your secure future!