kidz klub news

March 2012 the newsletter for young members of Alliant Credit Union

contents
1 Here come the millionaires!

the people with big bucks

What are millionaires really like?

2 The answers to What are

Here come the millionaires!

The rst American to become a millionaire was James Jacob Astor. He arrived in the United States from Germany in 1784, just after the end of our Revolutionary War with England. Astor started making a lot of money by trading furs with Indians and then opening a fur goods shop in New York City. He then made a whole lot more money by buying and selling land in the Manhattan section of New York City. Today, the United States leads the world in the number of millionaires. In fact, we have 10.5 million millionaires, even though three million Americans lost their place as millionaires during the nancial crisis between 2006 and 2008, according to CNNMoney. Now, more than half of the worlds millionaires live in three countries the United States, Japan and Germany. And China is expected to lead the world in the number of new millionaires through the year 2020. Meanwhile, do you know about ination? Ination causes you to pay more for the same thing as time goes by. For instance, if the ination rate is 2% this year, then a $1 pack of gum would cost you $1.02 next year. That goes for millionaires, as well. A guy with a million bucks in 1959 would basically have the same buying power as a guy with $7.3 million in 2009.
Sources: The Wall Street Journal, money.cnn.com, cbc.ca and wiki.answers.com

millionaires really like? The sporting life for kids

DIVIDEND
April Savings Dividend DECLARED FEBRUARY 16, 2012

The April 2012 Savings and IRA dividend, declared 02/16/12, provides a Compounded Annual Percentage Yield of

0.95% APY

Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividend is subject to change monthly.
April Checking Dividend DECLARED FEBRUARY 16, 2012

What are
Want to nd out what makes millionaires tick? Take this true-or-false quiz.
2. Most millionaires dont work for other people. They own their own businesses. 3. Millionaires have lots of credit cards. 4. Most millionaires stay in school and graduate from college.

really like?
T T T T T T T T T T F F F F F F F F F F

1. Millionaires shop in stores where the rich people shop. They dont shop where ordinary people shop.

The April 2012 High Rate Checking dividend, declared 02/16/12, provides a Compounded Annual Percentage Yield of

5. Most millionaires are glamorous people who have earned their money by doing glamorous things, such as being a rock star, a movie star, a basketball superstar or another kind of celebrity. 6. Many people who start out poor become millionaires by winning the lottery. 7. Most millionaires got rich because their parents were rich and gave them a lot of money. 8. Most millionaires dont work at all. They have other people work for them. 9. Most millionaires drive really fancy new cars, such as a Rolls Royce, Corvette or Lamborghini. 10. There is a good chance that you will grow up to become a millionaire. Check your answers on the back page to nd out how much you know.

0.90% APY

Checking dividends are paid on the last day of each month to accountholders who meet the requirements of the account. Checking dividend is subject to change monthly.

Source: mint.org

the benets of playing

The answers to What are millionaires really like?

So, how much do you already know about millionaires? Check your answers to nd out. 1. False. Most millionaires shop where everybody else shops. In fact, 43% of millionaires have a Sears credit card. 2. True. Most millionaires like to be thought of as entrepreneurs, as the people who lead and make decisions for their own company. 3. False. Many millionaires only use one credit card and they like to pay the full amount on their monthly bill. They do not like to pay interest on any money they owe. 4. True. Most millionaires are very well educated. About eight out of 10 millionaires are college graduates. 24% have earned a masters or doctoral degree. Plus, 14% have earned a medical or law degree. 5. False. Most millionaires work in jobs that you might think are ordinary, such as being the boss of a sidewalk construction or taxi cab company. 6. False. Most people lose money by playing the lottery. If you play the Powerball Lottery, your chance of winning big is one in 17 billion. You have a better chance of being struck by lightning. The odds for that are one in 9 million. 7. False. Only 19% of millionaires got rich because they had a wealthy family member that gave them money. 8. False. Most millionaires work more than 45 hours a week. 9. False. Only 23% of millionaires drive new cars although they could be expensive cars. 10. True. But, its easier if you stick to a savings plan. Lets say you save $3,000 a year from age 21 to age 64 and the economy improves so you earn 8% on your money. You can then retire with a million dollars.

The sporting life for kids

Do you like to shoot hoops, swing a baseball bat at a curve ball or hit a hockey puck into a goal? And if you do this on a team, youre in luck. Playing sports on a team is a great way to develop skills that will serve you well as you grow up and start a career. Will you develop into a professional athlete? Its a terric goal, but the odds are tough. Consider basketball, for instance. Only 3% of high school basketball players are good enough to become college basketball players, according to the National Collegiate Athletic Association (NCAA). And only 1% of those players make it to the big time as an NBA player. But, you dont need to be a superstar or even a very good player to benet from sports. Kids who play sports miss less school days and get in less trouble, according to a Harvard University study. Plus, more than 70% of the leaders of big companies played sports as a kid. When you play sports, you: Learn how get along with other kids and work together to win games Get exercise to become and stay physically t evelop physical coordination (what they call motor skills) D earn math skills, such as keeping scores and statistics L evelop strategic thinking, such as how to get around another D player and score a goal Learn how to handle disappointment and continue to give your best earn that sometimes you win and sometimes L you lose and, either way, you can be a good sport The main thing about playing sports is to have fun, so make sure you pick sports that are really fun for you. And remember: you dont need to be perfect or win every time. Of course, organized team sports are not for every kid. If you dont want to play on a team, you can still get the benets of playing sports with friends and doing physical exercise on your own, such as running or shooting baskets.
Sources: daveramsey.com, health.kaboose.com, parenting.families.com and youthsportspsychology.com

PO Box 66945, Chicago, IL 60666-0945 www.alliantcreditunion.org

Alliant Headquarters 11545 W. Touhy Avenue Chicago, IL 60666

NEW

ofce closings Memorial Day Monday, May 28, 2012 Independence Day Wednesday, July 4, 2012

Deposits/Payments PO Box 2387 Des Plaines, IL 60017-2387 Credit Card Payments PO Box 1666 Des Plaines, IL 60017-1666

Alliant is available 24/7 via our Member Contact Center, website, Self Service Telephone and ATMs.

All other correspondence including IRA and HSA Deposits Attn: IRA/HSA Dept. PO Box 66945 Chicago, IL 60666-0945 Alliant Member Contact Center 800-328-1935 24/7 personal assistance TDD/TTY 773-462-2300 Self Service Telephone (SST) 800-482-5328 24/7 automated account access

Alliant Retirement and Investment Services Financial Advisors are available to serve members in AZ, CA, CO, FL, HI, IL, NJ, NY, TX, VA, WA, WI. Call 800-328-1935, option 9. Alliant Website and Online Banking www.alliantcreditunion.org

NEW258-R03/12