3 Ways to Protect Your Money While on Vacation

3 Ways to Protect Your Money While on VacationMoney has to work all the time; it doesn’t get a vacation. But you do. A respected financial web site recently posted “15 ways to protect your money on vacation”. The story has its problems. For one thing, and this should be obvious, most of us don’t want to even think 15 different things on vacation. A list of fifteen vacation-related items that doesn’t include underwear on it seems… too much. For another, the article left one important thing that’s so easy your 9 year old could do it for you. Hey, it’s a vacation moment. We gotta think like real people here.

So in the interest of your relaxed vacation, we distill that list to three important ways to protect your money that you can read in 15 seconds or less, and remember longer. We will just include a link to the big list posted on Bankrate.com if one of your family members is up to a Mensa challenge.

You must know that to gain access to your money, whether on vacation or not, thieves and fraudsters need easy access to what you have to protect. That makes our list of three important things pretty simple:

  1. Slim down your wallet and keep it safe. Keep your wallet in a secure place, perhaps your front pocket, and don’t put all your cash and credit cards in one place. Maybe you really don’t need to bring all those credit cards and old notes and phone numbers that are in your wallet right now. You certainly should not bring your Social Security Card.
  2. Put a good password on your mobile phone, tablet and laptop. Most of these devices have your email account on them. If a thief can get to your email which is conveniently accessible on your stolen phone or tablet, he or she can change your email password, making your identity and perhaps even your money easy prey. Think how peaceful and nice it would be to spend two or more vacation days on the phone with credit card companies and your bank because the thief who stole your device used it to change your passwords. Having a lock-screen password on your phone and tablet makes for a much more relaxing vacation. It might even force you to be more social, in the oldest and truest sense of the word, but that’s not our business.
  3. Use credit cards for major purchases and keep the receipts. Credit cards’ zero-liability policy makes them a good choice for vacation spending. Keep a note of your card number and the customer service number stored safely in your hotel room so you can make a quick call if your card is stolen.

There you have it. Three basic and simple steps you can take to protect your money while on vacation and still have a good time.

Now, if you want to know more ways – 13 of them in fact – to protect your money while on vacation, read the story Bankrate’s lawyers let them publish, complete with advertisements. No joke, it’s worth your time to read.

We take your money very seriously, and we want your money to remain your money. (We’ll even pay you to let us borrow it.) So have a great vacation! And don’t worry about your money at Peoples Bank. We’ll make sure it keeps working.

Help Children Stay Safe Online

Help Children Stay Safe OnlinePerhaps the biggest internet threat isn’t your identity, it’s the threat to your children and grandchildren. Guardians of children are better off being proactive and preparing their defenses against online threats.

Bullies aren’t just in the school yard, they are also online. Predators are a constant threat, and now mobile devices can give them an extra “in” to vulnerable children. Knowing that, and knowing what form that threat can take is important information for responsible adults to have. It’s also important to know what parental controls are available. Here are a few tips and links from the Consumer Information section of FTC.gov.

  • Your communication link to your kids should be better than the best internet connection. So if your kids are online, make sure you protect your communication link. Talk to your kids, openly and honestly. Teach them how to use the internet without being used by it.
  • If your kids are online, they’re old enough to know about security practices, phishing, P2P file-sharing and apps. Here’s a link to help you help them avoid the dangers.
  • Do your kids use a mobile phone? Find out how to manage their risks.
  • Are your kids accessing online worlds, also known as virtual worlds, intended for adults? Find out how to find out.

The Federal Trade Commission (FTC) is responsible for consumer protection and has extensive resources posted on its website. There are hundreds of pages of helpful content, but the best place to start is the Kid’s Online Safety page.

The local Catawba county school system will also have information and local resources and contacts such as Catawba Parenting.

Help Children Stay Safe Online

Help Children Stay Safe OnlinePerhaps the biggest internet threat isn’t your identity, it’s the threat to your children and grandchildren. Guardians of children are better off being proactive and preparing their defenses against online threats.

Bullies aren’t just in the school yard, they are also online. Predators are a constant threat, and now mobile devices can give them an extra “in” to vulnerable children. Knowing that, and knowing what form that threat can take is important information for responsible adults to have. It’s also important to know what parental controls are available. Here are a few tips and links from the Consumer Information section of FTC.gov.

  • Your communication link to your kids should be better than the best internet connection. So if your kids are online, make sure you protect your communication link. Talk to your kids, openly and honestly. Teach them how to use the internet without being used by it.
  • If your kids are online, they’re old enough to know about security practices, phishing, P2P file-sharing and apps. Here’s a link to help you help them avoid the dangers.
  • Do your kids use a mobile phone? Find out how to manage their risks.
  • Are your kids accessing online worlds, also known as virtual worlds, intended for adults? Find out how to find out.

The Federal Trade Commission (FTC) is responsible for consumer protection and has extensive resources posted on its website. There are hundreds of pages of helpful content, but the best place to start is the Kid’s Online Safety page.

The local Catawba county school system will also have information and local resources and contacts such as Catawba Parenting.

Myths and Facts About Social Security

Myths and Facts about Social Security

Myth: Social Security will provide most of the income you need in retirement.

Fact: It’s likely that Social Security will provide a smaller portion of retirement income than you expect. There’s no doubt about it—Social Security is an important source of retirement income for most Americans. According to the Social Security Administration, more than nine out of ten individuals age 65 and older receive Social Security benefits.

But it may be unwise to rely too heavily on Social Security, because to keep the system solvent, some changes will have to be made to it. The younger and wealthier you are, the more likely these changes will affect you. But whether retirement is years away or just around the corner, keep in mind that Social Security was never meant to be the sole source of income for retirees. As President Dwight D. Eisenhower said, “The system is not intended as a substitute for private savings, pension plans, and insurance protection. It is, rather, intended as the foundation upon which these other forms of protection can be soundly built.”

Major Sources of Retirement IncomeNo matter what the future holds for Social Security, focus on saving as much for retirement as possible. You can do so by contributing to tax-deferred vehicles such as IRAs, 401(k)s, and other employer-sponsored plans, and by investing in stocks, bonds,and mutual funds. When combined with your future Social Security benefits, your retirement savings and pension benefits can help ensure that you’ll have enough income to see you through retirement.

Myth: Social Security is only a retirement program.

Fact: Social Security also offers disability and survivor’s benefits. With all the focus on retirement benefits, it’s easy to overlook the fact that Social Security also offers protection against long-term disability. And when you receive retirement or disability benefits, your family members may be eligible to receive benefits, too.

Another valuable source of support for your family is Social Security survivor’s insurance. If you were to die, certain members of your family, including your spouse, children, and dependent parents, may be eligible for monthly survivor’s benefits that can help replace lost income.

For specific information about the benefits you and your family members may receive, visit the SSA’s website at www.socialsecurity.gov, or call 800-772-1213 if you have questions.

Myth: If you earn money after you retire, you’ll lose your Social Security benefit.

Fact: Money you earn after you retire will only affect your Social Security benefit if you’re under full retirement age.

Once you reach full retirement age, you can earn as much as you want without affecting your Social Security retirement benefit. But if you’re under full retirement age, any income that you earn may affect the amount of benefit you receive:

  • If you’re under full retirement age, $1 in benefits will be withheld for every $2 you earn above a certain annual limit. For 2014, that limit is $15,480.
  • In the year you reach full retirement age, $1 in benefits will be withheld for every $3 you earn above a certain annual limit until the month you reach full retirement age. If you reach full retirement age in 2014, that limit is $41,400.

Even if your monthly benefit is reduced in the short term due to your earnings, you’ll receive a higher monthly benefit later.That’s because the SSA recalculates your benefit when you reach full retirement age, and omits the months in which your benefit was reduced.

Myth: Social Security benefits are not taxable.

Fact: You may have to pay taxes on your Social Security benefits if you have other income.

What is your full retirement age?If the only income you had during the year was Social Security income, then your benefit generally isn’t taxable. But if you earned income during the year (either from a job or from self-employment) or had substantial investment income, then you might have to pay federal income tax on a portion of your benefit. Up to 85% of your benefit may be taxable, depending on your tax filing status (e.g., single, married filing jointly) and the total amount of income you have.

For more information on this subject, see IRS Publication 915, Social Security and Equivalent Railroad Retirement Benefits.

Contact our Peoples Investment Services, Inc. representative at 828-464-5620 or  www.raymondjames.com/PeoplesInvSvcs. 

This information, developed by an independent third party, has been obtained from sources considered to be reliable, but Raymond James Financial Services, Inc. does not guarantee that the foregoing material is accurate or complete. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Investments mentioned may not be suitable for all investors. The material is general in nature. Past performance may not be indicative of future results. Raymond James Financial Services, Inc. does not provide advice on tax, legal or mortgage issues. These matters should be discussed with the appropriate professional.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, an independent broker/dealer, and are not insured by FDIC, NCUA or any other government agency, are not deposits or obligations of the financial institution, are not guaranteed by the financial institution, and are subject to risks, including the possible loss of principal.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2014