8/2/2019 Kidz Klub, March 2012 Newsletter

1/2

The first American to become a millionaire wasJames Jacob Astor. He arrived in the United

States from Germany in 1784, just afterthe end of our Revolutionary War

with England. Astor started makinga lot of money by trading furswith Indians and then openinga fur goods shop in New YorkCity. He then made a whole lotmore money by buying andselling land in the Manhattansection of New York City.

Today, the United States leads the worldin the number of millionaires. In fact,we have 10.5 million millionaires, eventhough three million Americans losttheir place as millionaires during thefinancial crisis between 2006 and 2008,according to CNNMoney.

Now, more than half of the worlds millionaireslive in three countries the United States, Japanand Germany. And China is expected to lead theworld in the number of new millionaires throughthe year 2020.

Meanwhile, do you know about inflation? Infla-tion causes you to pay more for the same thing astime goes by. For instance, if the inflation rate is2% this year, then a $1 pack of gum would costyou $1.02 next year. That goes formillionaires, as well. A guy witha million bucks in 1959would basically have thesame buying power as aguy with $7.3 millionin 2009.

contents

Here come the millionaires!

What are millionairesreally like?

The answers to What aremillionaires really like?

The sporting lifefor kids

Here come the millionaires!

Want to find out what makes millionaires tick? Take this true-or-false quiz.

March 2012 the newsletter for young members of Alliant Credit Union

the people with big bucks

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

2. Most millionaires dont work for other people. They own their own businesses. T F

3. Millionaires have lots of credit cards. T F

4. Most millionaires stay in school and graduate from college. T F

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. T F

6. Many people who start out poor become millionaires by winning the lottery. T F

7. Most millionaires got rich because their parents were rich and gave them a lot of money. T F

8. Most millionaires dont work at all. They have other people work for them. T F

9. Most millionaires drive really fancy new cars, such as a Rolls Royce, Corvette or Lamborghini. T F

10. There is a good chance that you will grow up to become a millionaire. T F

Source: mint.orgCheck your answers on the back page to find out how much you know.

What are really like?

Sources: The Wall Street Journal,money.cnn.com, cbc.ca and

wiki.answers.com

kidz klub news

DIVIDEND

April Savings Dividend

ECLARED FEBRUARY 16, 2012

he April 2012 Savingsnd IRA dividend, declared2/16/12, provides a Compounded

Annual Percentage Yield of

0.95%APY

ividends are paid on the

ast day of the month to

ccountholders who have

maintained an average daily

alance of $100 or more.

avings dividend is subject to

hange monthly.

April Checking Dividend

DECLARED FEBRUARY 16, 2012

The April 2012 High RateChecking dividend, declared02/16/12, provides a Compounded

Annual Percentage Yield of

0.90%APYChecking dividends are paid on

he last day of each month to

accountholders who meet the

equirements of the account.

Checking dividend is subject to

change monthly.

8/2/2019 Kidz Klub, March 2012 Newsletter

2/2

Do you like to shoot hoops, swing a baseball batat a curve ball or hit a hockey puck into a goal?And if you do this on a team, youre in luck. Playingsports on a team is a great way to develop skills that will serveyou well as you grow up and start a career.

Will you develop into a professional athlete? Its a terrific goal,but the odds are tough. Consider basketball, for instance.Only 3% of high school basketball players are good enoughto become college basketball players, according to the NationalCollegiate Athletic Association (NCAA). And only 1% ofthose players make it to the big time as an NBA player.

But, you dont need to be a superstar or even a very goodplayer to benefit from sports. Kids who play sports missless school days and get in less trouble, according to aHarvard University study. Plus, more than 70% of the leadersof big companies played sports as a kid.

When you play sports, you:

Learn how get along with other kids and work togetherto win games

Get exercise to become and stay physically fit

Developphysicalcoordination(whattheycallmotorski

Learnmathskills,suchaskeepingscoresandstatistics

Developstrategicthinking,suchashowtogetaroundanoplayer and score a goal

Learn how to handle disappointment and continueto give your best

Learnthatsometimesyouwinandsometimesyou lose and, either way, you can bea good sport

The main thing about playing sports is to have fun, somake sure you pick sports that are really fun for you.And remember: you dont need to be perfect or winevery time. Of course, organized team sports arenot for every kid. If you dont want to play ona team, you can still get thebenefits of playing sportswith friends and doingphysical exercise on your own, such asrunning or shooting baskets.

office closingsMemorial DayMonday, May 28, 2012

Independence Day

Wednesday, July 4, 2012

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

PO Box 66945, Chicago, IL 60666-0945

www.alliantcreditunion.org

2 the benefits of playing

The answers to What aremillionaires really like?

The sporting life for kids

Sources: daveramsey.com, health.kaboose.com, parenting.families.com and youthsportspsychology.com

Alliant Headquarters11545 W. Touhy AvenueChicago, IL 60666

Deposits/PaymentsPO Box 2387Des Plaines, IL 60017-2387

Credit Card PaymentsPO Box 1666Des Plaines, IL 60017-1666

All other correspondenceincluding IRA and HSA Deposits

Attn: IRA/HSA Dept.PO Box 66945Chicago, IL 60666-0945

Alliant Member Contact Center800-328-193524/7 personal assistanceTDD/TTY 773-462-2300

Self Service Telephone (SST)800-482-532824/7 automated account access

Alliant Retirement andInvestment ServicesFinancial Advisors are availaserve members in AZ, CA, COIL, NJ, NY, TX, VA, WA, WI.Call 800-328-1935, option 9.

Alliant Website and Online Bwww.alliantcreditunion.org

So, how much do you already know about

millionaires? Check your answers to find out.

1. False. Most millionaires shop where every-

body 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 amedical 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.

NEW

NEW2