Fourth Quarter 2024
Fourth Quarter 2024
frontwavecu.com
frontwavecu.com
Years later, as a Gunnery Sergeant myself, I cashed in those bonds to open an investment account and was amazed at how much I’d saved, bit by bit. Those lessons in saving and budgeting helped my wife and me buy our first home and start our family—something I owe, in large part, to that Gunnery Sergeant’s wisdom. As we close out the year, now is the perfect time to make those small moves that can set you up for success in 2025 and beyond. Start a savings habit, set achievable financial goals or fine-tune your budget. You don’t need to wait for New Year’s resolutions—starting now takes that weight off your shoulders. It’s not about being perfect. It’s about making progress. At Frontwave, we’re here with you every step of the way. Whether you’re building a budget, paying down debt or retirement planning, our certified financial counselors are ready to help. We’ve all been there, and together, we can face whatever financial fear is holding you back. Let’s take that first step today, no matter how small it might feel. The path to financial confidence doesn’t have to be scary. After all, the most important lesson is simply moving forward, one step at a time.
I’ll never forget when I was a young Marine at Kaneohe Bay, Hawaii—not bad duty for a kid from Montana. Shortly after arriving, I competed for and earned a spot in the Reconnaissance Company. I could share countless examples of challenges I faced as a Recon Marine, but the one that stuck with me most wasn’t from the battlefield. After a week of tough training, the Company Gunnery Sergeant asked us one simple question: “What are you doing with your money?” With free housing, meals, and healthcare, our expenses were minimal. His point was clear—were we making the most of it? My answer didn’t sit well with him— and it wouldn’t be the last time. Turns out, I had a knack for getting the Gunny fired up. I proceeded to receive a 10-minute tongue-lashing on saving. He ordered me to set up an allotment to buy a Savings Bond every month—and I did because you don’t argue with a Marine Gunnery Sergeant! His advice didn’t stop there. He told me to increase my bond purchases with every promotion or pay raise. His final lesson? Live within your means and know the difference between needs and wants. While I admit to blurring that line at times, his advice stuck.
Notes from the CE0
Personal Finance
Bill Birnie, President/CEO As the leaves fall and Halloween approaches, many of us are reminded of our fears—especially when it comes to money. Whether tackling debt, building savings, or thinking about retirement, financial fears can freeze us in our tracks. It’s easy to feel stuck, not knowing where to start. But here’s the thing: even the best budgeters and investors have stumbled. I know I have, and I bet you have, too. What matters isn’t our mistakes—it’s how we recover and move forward. In the Marines, I learned that no obstacle is too big to overcome. The key is staying focused, learning from experience, and taking that next step. The toughest situations often teach the most valuable lessons.
tricks
TREAT & treats
Don’t Leave Money on the Table Grab every opportunity, especially when it’s free money. If your employer offers 401(k) matching, contribute enough to max it out—it’s free cash for your retirement. Don’t forget Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) for medical expenses; they offer tax breaks and help you prepare for future healthcare costs. In the military? The government adds 1% of your base pay to the Thrift Savings Plan. Contributing more boosts your retirement fund and reduces taxable income — a big win early in your career. Freelancers and business owners can secure their future with Traditional or Roth IRAs, SEP IRAs or a Solo 401(k). These options provide tax advantages and help you build long-term savings. Face Your Financial Fears and Win Finances don’t have to be a nightmare. Small, manageable steps can conquer your financial fears. Once you take the first step, you’ll see the real monster is uncertainty. Ready to stop running? Start small, build confidence and soon you’ll slay financial demons like a pro. These options provide tax advantages and help you build long-term savings.
You Need to Be Rich to Invest TRICK You can start investing in small amounts today.
Pay Yourself First
Automatically save a portion of your paycheck before anything else.
TRICK
TREAT
Compound Interest Even small savings grow big over time thanks to compound interest.
Budgets Kill Fun
Budgets allow fun spending while keeping financial goals on track.
TRICK
TREAT
Small Changes Matter Cutting small expenses, like coffee runs, can free up money for savings.
Credit Cards Are Bad
Credit cards can build credit and earn rewards when paid off monthly.
Kid$mart
Make a Savings Chart: Help kids set a savings goal for something they want, like a toy or a special outing. Create a colorful chart where they can track their progress each time they save money. It’s a great way to show them how savings add up over time.
Teaching kids about money and finances can be fun. Here’s our fun way to educate your little ones about making $mart choices that make ¢ents!
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