Changing Marital Status? What You Need to Do
Have you recently married, divorced, or lost a spouse? A change in marital status should prompt a review of financial matters, but at such a time it is easy to overlook the details. Here are a few reminders and suggestions. Insurance coverage. When your marital status changes, review your insurance policies. Combining separately held health […]
Everyone Needs a Financial Plan
As some point you will be responsible for your own money. If that is not currently the case for you, here are some ideas to help get your financial plan in order. Retirement fund. Saving for retirement is crucial. Even small amounts can go towards U.S. savings bonds or mutual funds with an automatic savings […]
Understand the Time Value of Money
If you were offered the choice of being paid $100 today or $100 a year from now, you would probably choose $100 today. After all, even at today’s low interest rates, your $100 might earn a small return over the next year. This simple example illustrates an important concept: that the value of money changes […]
5 Reasons Why the Elderly Are Susceptible to Scams
As we age, we tend to become more vulnerable to fraud. According to the National Consumers League, nearly a third of all telemarketing fraud victims are age 60 or older. That type of fraud represents billions of dollars per year. One study found that senior citizens, who make up 12% of the U.S. population, comprise […]
Give Your Children the Financial Education They Need
Most parents, at one time or another, have asked their teenaged child, “Do you think that money grows on trees?” While the question is just a common expression, it hits at an underlying truth. Children on the verge of adulthood often don’t have a clue about financial matters. For instance, can you honestly say that […]
3 Tips to Steer Clear of Work-From-Home Scams
With millions of Americans working remotely for the first time this year, the Federal Trade Commission is warning people about work-from-home scams. Here are some common work-from-home offers to be careful of according to the FTC: At-Home Medical Billing Businesses. Many medical billing business opportunities are worthless. Their promoters don’t tell the truth about earnings […]
Switching Jobs? Here Are Several Options for your 401k
Suppose you’re switching jobs if you were furloughed because of the pandemic or you’re simply searching for greener pastures. If you have a 401(k) from your soon-to-be former employer, you must decide what to do with your retirement account when you leave. Here are your four options: Leave the money in your previous employer’s pension […]
Job-Hunters: Avoid Agency Scams
Employment scams are not new, but they’ve become increasingly sophisticated as scammers design websites that effectively mimic the sites of legitimate companies. How can you keep from being ripped off by bogus job agencies? Do your research. Gather information about the job placement companies you’re interested in. Also ask around. Chances are you know someone […]
Financial Basics: Calculate Your Net Worth
Whatever your financial goals in life – whether they include buying a new house, taking a trip to Europe, funding your children’s college educations, having enough money fora comfortable retirement, or all of the above -you are more likely to reach your goals if you do some planning. The fact that you are reading this […]
How to Have a Comfortable Retirement
If you’re age 35 or more and haven’t made a serious effort to plan for retirement, your dreams of a comfortable and active retirement could turn into the nightmare of being old and poor. Scare tactics, you say? Consider this: most experts say you need at least 66% of pre-retirement income to live comfortably when […]