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| Message from the President
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A Message From The President
As we enter the second half of 2010, the uncertainty of the economy continues to be a concern. The comfortable investment options that were available a few years ago are fewer in number and the rate of return of those that we lean towards are meager by comparison. The silver lining in all of this is that the rate of inflation remains near zero. Some of you may recall getting 10 percent on Certificates of Deposit in the early 80’s. However, we had a 13 percent rate of inflation at that time, so our net yield was negative.
With all of these factors in mind, now is a good time to re-visit the SLY theory; Safety, Liquidity and Yield. Many of you are now retired or approaching that time with the knowledge that the ability to recover investment losses by working longer will be gone once you pull the plug and give up working. So, you must take fewer risks, which of course can affect the yield. Another key factor in preparing for retirement is to get rid of debt. Most of the time paying down your indebtedness is the best investment yielding the most financial benefits.
In view of the present economy and the complexities of retirement planning, I urge you to contact HERITAGE WAY, the investment arm of Heritage Family Credit Union. The HERITAGE WAY staff work with models that enable them to sort out the key factors you need to consider as you plan for the future. And, of course, the service is free and there is no obligation.
I hope you enjoy the summer and that good health and happiness stay with you.
-Ron Hance, President
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