Preparing a Personal Balance Sheet

Posted in Financial Planning, Managing Your Money, Personal Financial Insights

Taking control of your financial future is a process. And, as with any process, it is important to monitor your progress. One of the best ways for an individual to measure financial progress is to periodically prepare a personal balance sheet. The personal balance sheet shown below can be printed and used as a basis for your periodic progress measurements. It is broken into three parts to help you better understand your investments, your total...

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Five Questions about Long-Term Care

Posted 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...

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Immediate Annuities Can Provide Lifetime Income

Posted 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...

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Handling Market Volatility

Posted 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...

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The Simple 3 Factors of Financial Protection

Posted 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...

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Medical Expenses and Tax-Preferred Savings

Posted 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...

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