Five Questions about Long-Term Care

Posted on Nov 10, 2016 in Featured, Financial Planning, Investing, Peoples Progress e-Newsletter |

1. What is long-term care? Long-term care refers to the ongoing services and support needed by people who have chronic health conditions or disabilities. There are three levels of long-term care: Skilled care: Generally round-the-clock care that’s given by professional health care providers such as nurses, therapists, or aides under a doctor’s supervision. Intermediate care: Also provided by professional health care providers but on...

Read More

Immediate Annuities Can Provide Lifetime Income

Posted on Aug 15, 2016 in Featured, Financial Planning, Peoples Progress e-Newsletter |

Running out of income is a primary concern for most retirees. Immediate annuities offer a financial alternative to help meet retirement income needs by providing a steady stream of income designed to last through retirement. What is an immediate annuity? An immediate annuity is a contract between you and an annuity issuer (an insurance company) to which you pay a single lump sum of money in exchange for the issuer’s promise to make...

Read More

Handling Market Volatility

Posted on May 6, 2016 in Featured, Financial Planning, Investing, Peoples Bank News, Peoples Progress e-Newsletter |

Conventional wisdom says that what goes up must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when your money is at stake. Though there’s no foolproof way to handle the ups and downs of the stock market, the following common-sense tips can help. Don’t put your eggs all in one basket Diversifying your investment portfolio is one of the key tools for trying to manage market...

Read More

The Simple 3 Factors of Financial Protection

Posted on Sep 2, 2014 in Building Blocks, Financial Planning, Online Security |

We have published thousands of words online and on paper to help protect your information. It’s too much to remember all at once, so here are the 3 fundamentals in 100-words or less. The Big 3 Fundamentals of Financial Protection Keep your financial records in order Watch out for fraud and scams (there are a LOT of them out there) Be insured (at the bank, and at home) That’s it. The details can be found at the links below. MyMoney.gov | Protect...

Read More

Medical Expenses and Tax-Preferred Savings

Posted on Apr 24, 2014 in Financial Planning, Managing Your Money, Products and Services |

By now everybody knows about tax-preferred Individual Retirement Accounts (IRA), but do you know about a similar account to help pay for certain medical expenses? It’s called a Health Savings Account (HSA). Your community bank wants to help, and can provide more information. Here are the basics: If you are enrolled in only one health insurance plan and it has a high deductible, you probably are eligible to open an HSA. Help you avoid the shock...

Read More

Changing Jobs? Take Your 401(k) and … Roll It!

Posted on Feb 6, 2014 in Financial Planning, Investing, Peoples Progress e-Newsletter |

If you’ve lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It’s important to understand your options. What will I be entitled to? If you leave your job (voluntarily or involuntarily), you’ll be entitled to a distribution of your vested balance. Your vested balance always includes your own contributions (pretax, after-tax and Roth) and typically any investment earnings on those...

Read More