April Newsletter

• Word of the Month

• Retirement refers to the stage of life when an individual stops working full-time, usually due to age or financial readiness, and transitions to a lifestyle centered around personal interests, leisure, or relaxation.

• Question of the Month

  • Q: What is the median and average retirement savings for people under 35?

  • A: $19,000 median & $49,000 average (Nerdwallet)

• Money Ideas

  • Retirement.  Start Saving Early (Yes, Really!)

    • It might seem far off, but the earlier you start saving for retirement, the better. Thanks to compound interest, your money grows faster the longer it has to work for you. Even if it's just a few dollars a month, it adds up over time! So where do you put this money? 

    • Open a Roth IRA (Individual Retirement Account). This allows you to invest money now, tax-free, and withdraw it later without paying taxes. It's a great option for young people because your tax rate is usually lower now than it will be when you're older.

      • • "BUT WHERE SHOULD I BEGIN?"

          • • Students can open a Roth IRA at various places, depending on their preferences and investment style. 

            • Online brokerage firms like Fidelity, Vanguard, and Charles Schwab offer low-cost accounts with a range of investment options. 

            • For a hands-off approach, robo-advisors such as Betterment and Wealthfront manage your portfolio automatically. 

            • Banks like Bank of America and Chase also offer Roth IRAs, while credit unions might provide lower fees and attractive rates. 

            • Beginner-friendly apps like Acorns and Stash allow for easy setup and automatic contributions, perfect for those just starting to invest. Each option has different features, so it's worth comparing them based on fees and investment options.

• Gig Work Ideas: Graphic Design

  • Graphic Designing refers to someone who uses visual elements like images, typography, and layout to create designs that communicate a message or idea effectively.

  • If you want to pursue gig work in graphic design, here are key skills you should have:

    • Proficiency in design software (like Adobe Photoshop, Illustrator, Canva, or Figma)

    • Strong visual and creative sense

    • Understanding of branding and marketing basics

    • Time management and ability to meet deadlines

    • Clear communication with clients

    • Portfolio building and self-promotion skills

  • Website for gig work:

    • Fiverr

    • Gumroad

    • Guru

    • PeoplePerHour

    • Thumbtack

• Financial Related Events

Spring Quarter

Attend-A-Workshop Raffle (all quarter)

Workshops

• • • Click here to see what workshops are remaining. All will be held via Zoom (bit.ly/finlitzoom) unless otherwise stated.

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• • All events are located on Eagle Connect. You might need to be signed in to view some details.

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