Make Your Overtime Pay Work For You
MAKE YOUR OVERTIME PAY WORK FOR YOU!
INVESTMENT OPTIONS FOR POSTAL EMPLOYEES
By Derrick Lee, Records Secretary Oakland Local APWU #78
I hear postal employees talking about how they can invest with a limited amount of money and get a good return. My immediate response would be to participate in the Thrift Savings Plan (TSP) at work. This is an excellent way to build money over a long period of time. Another option, in addition to the TSP, is to open a Standard & Poor 500 index (S&P 500 index) or Exchange Traded Fund (ETF) at a brokerage such as Charles Schwab or TD Ameritrade. You can open an account with Charles Schwab with no money and have money deposited directly into your brokerage account from your checking or savings account. You can deposit as little as $100 monthly into your account. As your account grows, when the index goes up, the return is larger. For example, a 10% return on $1,000, would be $100. When your account is worth $10,000, a 10% return would be $1,000! It gets better as your account grows. The rest of this article reviews the past performance of the S&P 500 index.
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The opinions expressed in this article do not necessarily reflect the viewpoint or position of APWU, Oakland Local 78. Furthermore, APWU, Oakland Local 78, do not endorse any opinions
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The author is not a registered financial advisor and wrote this article for informational purposes only. We recommend you consult your financial advisor or consultant before you make any investment decision. As with any financial decision, it is recommended you do your financial homework and research on any investment vehicle to increase your chances for success.