Meet Dave - He Believes in Saving Early
The BECU Member Spotlight is a monthly blog feature where we take some time to learn more about BECU's most important asset - our members. Meet Dave!
How long have you been a BECU member?
I'm not exactly sure, but I believe a couple of decades now.
You mentioned you taught your kids about finances with BECU. What piece of advice did you give them?
My wife (Margie) and I set them up with savings accounts early on. Pretty much as soon as they were of working age. They used their BECU accounts for their summer jobs and college savings. They still have them today. One bit of advice I have given them is to start saving early. Invest a little bit each month - no matter how small. The power of compounding is significant, and time is one's greatest ally in investing. So, start young!
If you could retire anywhere, where would it be?
Well, the "dream" would be a place like the Amalfi Coast of Italy. We've been there twice in our 25 years of marriage. It is truly an amazing place! But a more realistic location (and actually where we do plan to retire) is in Sequim, Washington. It's a beautiful area tucked between the Olympic Mountains and the Straits of Juan de Fuca. Ocean on one side and snow-capped mountains on the other. Sequim also has very low rainfall; something like 13 - 15 inches per year.
If you had to eat one meal, every day, for the rest of your life, what would it be?
Hmmm. And not gain weight? Then it would have to be pasta!
What has been the best piece of financial advice you have ever received?
My dad taught me to give generously. I saw him do it my whole life. My wife and I do the same, and whether you believe in Karma or the wisdom of biblical scripture, it truly is more blessed to give than to receive.