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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
May/June 2022
It's Never Too Early
Hey, millennials, you still have time to save for retirement. Start by establishing good money habits that will help you throughout your lifetime. These ideas may help.
Keep a Spending Journal
To see where your money is going, take the two-week challenge. Write down everything you buy over the next 14 days — even that pack of gum. Once you add it all up, you might be surprised at how much money you’re spending on small or impulsive purchases.Know What You Owe
It’s easy to lose track of how much you’ve charged to your credit card. If you’re charging more than you can pay off each month, your purchases are accruing interest on top of interest. Make a plan to pay off the balances. The money you’re paying in interest could make a good start on saving for your future.
Create a Spending Plan
Create a budget that lists all your expenses — mortgage or rent, utilities, insurance, car payment, — and include a category for savings. Subtract those expenses from your take-home pay to see what’s left for food, entertainment, clothing, and other items.Make Saving Automatic
You can arrange to have money from each paycheck deposited automatically in your retirement plan or other savings account. Because you won’t see that money in your checking account, you won’t be tempted to spend it.Pay with Cash
Use cash or your debit card for all your purchases. That way, you can spend only as much as you have in your bank account.1-05239125
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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