Managing Your Money
Shopping for interest rates? Keep this important advice in mind.
For the first time since 2018, the Federal Reserve has raised its benchmark federal-funds rate by one quarter of one percentage point. This news doesn’t just affect banks and bankers; it also has an impact on business and personal finances. A rising rate environment might draw your attention to the money you are saving, the interest you pay on loans and credit cards, and (most importantly!) how your finances fit together. Eventually, you may see flyers and postcards offering promotions and bonuses for your deposits. Are they worth taking?
Everyone's Money Needs a Plan
It doesn’t matter where your money comes from: hourly wages, salary, commission, pension, Social Security or trust fund. If you don’t have a plan for your money, you won’t get the maximum benefit. And you’ll spend too much time and energy worrying about it. A good financial plan puts structure and intention into your financial life. It helps you pace your spending, saving and borrowing through the tight years as well as the prosperous ones to avoid the chaos of a feast-or-famine existence.
Putting Wealth to Work for You and Your Heirs
Whether you earned wealth or inherited it, chances are you want to spend some, save some, give some and leave some for your loved ones. If you’re still working, you likely have plans to retire someday, with many goals and life events in between. How can you put your wealth to work for you throughout your life and beyond? First and foremost, find a trusted, experienced and certified professional to help you put an active plan in place and revisit it annually to adjust for market conditions, evolving goals and unexpected curveballs.
Keeping Your Cards Safe from Fraud
As credit card rewards get more popular, the volume of credit card transactions is rising sharply, along with opportunities for fraud. According to the Nilson Report, 131 billion credit card transactions were processed in the U.S. in 2021. Luckily, rewards aren’t the only appeal. Unlike debit cards, most credit cards offer cardholder protection against fraud loss. But to take advantage of that protection, either the cardholder or their bank has to catch the errant transaction. Banks and cardholders both have strong incentives to ward off fraud. Here's how to keep your cards safe.
Strategies to Prepare for Tax Increases
As lawmakers and administrations change in Washington, the direction of the federal government and its tax policies change with them. Even if you can’t yet be certain what the final rules will be, you can easily tell the direction far ahead of time and prepare accordingly. So if increased taxes are on the way, in whatever form they take, what can you do to minimize the impact on your financial plan?
Why You Need a Letter of Last Instruction & How to Write One
Even with wills and careful estate planning, families can still be left with difficult problems after a loved one dies. A detail missed or vital account that can’t be accessed complicates their path forward during a sad and difficult time. A letter of last instruction isn't a legal document, but it can be the key to making sure everything is accounted for and accessible to the family members left behind. What should you include?
Being Prepared for and Walking Through Medical Crisis
Life changed in an instant when Jeremy and his son were struck by an emergency and the ensuring medical crisis. Learn from his experience with the steps he's grateful he had taken prior to that moment and the things he wishes he had done to make the journey smoother.
Preventing and Recognizing Financial Abuse of Older Adults
In 2034, for the first time in U.S. history, adults ages 65+ are expected to outnumber children under 18. Many will remain active in the ensuing decades by traveling, taking up new hobbies and enjoying retirement. But older adults will still eventually need assistance with activities of daily living and business affairs, and the two don’t always track along the same timeline. Once an older adult becomes dependent on another person, whether a family member or professional, they become vulnerable to being taken advantage of or abused by someone who is supposed to assist and protect them.
How to Balance Student Loans and Early Debt with Long-term Goals
Between student loans, credit cards and other early debt, do young people ever have a chance of getting ahead? Yes! It’s not always easy—especially for those with six-digit student loans—but you can find the right balance between managing debt and planning for the future. Just keep these maxims in mind.
Choosing Cards that Put You in Control
Even as the world edges back toward “business as usual,” people continue to rely heavily on doing business digitally – with online shopping, delivery, curbside pick up, and alternative points of sale. The dominant payment form for all this activity? Cards. The challenge is to keep tabs on all the credit, debit and purchasing card activity that happens on a daily basis. Security features become very important, not just for reconciling accounts, but for preventing fraud. To mitigate your risk, here’s what to look for in the cards you use.
