USC Credit Union Blog

USC Credit Union Blog

Pierce Conway

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Retirement Savings Plan by Age

Posted by Pierce Conway on Aug 17, 2017 3:38:58 PM

It’s never too early (or too late) to begin building your wealth for retirement.

Generally speaking, financial experts say you’ll need 70% of your annual pre-retirement income in order to maintain your standard of living in retirement. That statement may have you wondering when you should begin saving, and the simple answer is now.

As with any big project, it’s easy to become over- whelmed when you look at the big picture. However, by breaking your retirement savings goal into manage- able steps no matter when you start, you’ll find that the process becomes less intimidating. In fact, armed with information you gather along the way, we even propose that the process can be an exciting adventure! It’s USC Credit Union’s goal to be your financial partner for life. Follow our retirement savings plans for your age and own your future!

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Visit the Best Museums in LA....FOR FREE this Spring!

Posted by Pierce Conway on May 12, 2017 1:00:00 PM

Many fun and fascinating local museums are free or have periodic free days. Start with two across the street from the University Park campus, and one only a few blocks away. We’ve included links to their apps so you can see what special events and exhibits are scheduled.

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What Are the Different Types of Savings Accounts?

Posted by Pierce Conway on May 2, 2017 11:00:00 AM

 

A savings account is one of the simplest types of bank accounts. It allows you to store cash securely and earn interest on your money. Banks and credit unions have three kinds of savings vehicles, each with varying requirements and levels of return. Knowing the differences — what’s good about them, what could be a problem — is the first step toward finding the right savings account for you.

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Here's a Way Recent Grads Can Build Good Credit

Posted by Pierce Conway on Apr 26, 2017 11:22:56 AM

 

Striking out on your own after college can be challenging for financial novices. For graduates with record student loan debt and entry-level jobs or worse, no jobs at all, learning to manage debt wisely will pave the way to a good credit score. That in turn creates opportunities down the road, including the possibility to refinance student loans at a better rate.

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What Are the Tax Benefits to Opening an IRA Account?

Posted by Pierce Conway on Apr 12, 2017 2:00:00 AM

 

 One of greatest advantages to saving for retirement is the tax benefits you get when investing in an IRA or other qualified retirement account. Most people know there are tax benefits to opening an IRA account, but few understand how many benefits there are, and how powerful they can be in the cause of saving money for retirement. Did you know there are at least six tax benefits to opening an IRA account?

We discuss these benefits more in-depth below, and how you can leverage them for your own retirement savings.

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How To Get Out of Student Loan Debt

Posted by Pierce Conway on Apr 5, 2017 11:54:14 AM

 

If you're a recent college graduate who took out student loans, you likely owe about $35,000. As eye-popping as that average debt figure is, you're certainly not the only one wondering how you'll possibly get out from under your loans. As with any difficult assignment, though, research and a well-thought-out plan will help you tackle even the most challenging of debt situations.

Making use of the following strategies will help you get out of student loan debt. Here's a look at where to get started.

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What’s the Difference Between Debit Card and Credit Card?

Posted by Pierce Conway on Mar 22, 2017 2:00:00 PM

 

When it comes to making purchases, not all plastic acts the same.

Debit cards and credit cards both offer a convenient way to pay without cash or checks, and both are accepted in nearly all the same places. But that's where the similarities end.

The fundamental differences between a debit and credit card are where the money comes from, and what it can cost.

Debit cards typically pull funds from a checking account, while credit cards charge purchases using a line of credit. With a debit card, you're spending money from your own funds. Use a credit card and you're borrowing the money and eventually will have to pay it back to the card issuer, perhaps including interest.

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Women and Finance: The Facts

Posted by Pierce Conway on Mar 8, 2017 5:14:00 PM

 

Women’s Earning Power

This is an unprecedented time for women’s economic power. In the United States:

  • Women increasingly out-earn men – 28% of women in heterosexual marriages currently out-earn their husbands.
  • By 2028 the average American woman is expected to out-earn the average American man
  • However, couples with breadwinner wives tend to report lower relationship satisfaction and higher rates of divorce making getting “the money conversation” right even more important.
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11 Ways You Can Establish Good Credit by Spring!

Posted by Pierce Conway on Mar 2, 2017 2:00:00 PM

 

So you want to know how you can establish or re-establish your credit history? This is an important issue because having a good credit score is essential for obtaining good credit. The information in your credit report is used by potential creditors to determine if you are a good risk. You can help yourself establish or re-establish a good credit history by following these 11 simple steps:

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7 Financial Tips Every College Student Should Know

Posted by Pierce Conway on Feb 24, 2017 2:00:00 PM

 

 

As a USC student myself, we know college is an exciting time, but it’s also an expensive time. With the average debt for graduating seniors hovering around $29,000 (according to CNN), every incoming freshman should be taking a crash course in College Finances 101.

So before you hit the books, study up on these seven essential tips to get a handle on your finances and get the most out of your college experience, for the lowest cost possible.

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