Tips for Saving Money (even if you don’t have a lot)

Posted on Nov 10, 2016 in Featured, Money Tips, Peoples Progress e-Newsletter | Comments Off on Tips for Saving Money (even if you don’t have a lot)

Tips for Saving Money (even if you don’t have a lot)

These days, with interest rates at historic lows, the good news is that loans are more affordable than when rates were higher. The bad news is that saving money to create wealth takes more thought and effort. Because of the Rule of 72, simply putting some money in a savings account used to be an effective strategy. Back when deposit interest rates were 4%, interest alone would double your initial deposit in just 18 years. Now, with rates near 1%, that same math would work out to 72 years! So what’s the solution for saving money now, when...

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Five Questions about Long-Term Care

Posted on Nov 10, 2016 in Featured, Financial Planning, Investing, Peoples Progress e-Newsletter | Comments Off on Five Questions about Long-Term Care

Five Questions about Long-Term Care

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 a less frequent basis than skilled care. Custodial care: Personal care that’s often given by...

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Financial Protection for Seniors

Posted on Aug 15, 2016 in Elder Abuse, Featured, In the News, Peoples Bank News, Peoples Progress e-Newsletter | Comments Off on Financial Protection for Seniors

Financial Protection for Seniors

Seniors are increasingly victimized by fraud. Sometimes by strangers, but other times care-givers, friends and even family members abuse vulnerable older ones financially. Recent statistics on elder abuse from TrueLink research indicate that such crimes are increasing: A person who receives just one telemarketing call per day is said to likely experience three times as much financial loss as someone who receives no or only occasional telemarketing calls. Small losses appear to suggest greater vulnerability: a senior who lost as little as $20...

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Immediate Annuities Can Provide Lifetime Income

Posted on Aug 15, 2016 in Featured, Financial Planning, Peoples Progress e-Newsletter | Comments Off on Immediate Annuities Can Provide Lifetime Income

Immediate Annuities Can  Provide Lifetime Income

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 payments to you for a fixed period of time or for the rest of your life. Immediate annuities may appeal to...

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