Managing finances properly is mainly common sense. While we’ve all made financial mistakes, most of those mistakes are easily rectified, particularly when promptly corrected. However, there are some financial decisions that can be much harder to recover from. Here are just a few of them: Spending more than you make. This usually occurs when overusing credit cards. The temptation is there, particularly for those fresh out of college, to use credit cards to pay for...
Valerie Peck |
Most consumers typically have both a credit card and a debit card. Of course, the biggest difference between the two is that a debit card will immediately take money out of your bank account when used, unlike a credit card, which will pay for the purchase and later add the amount of the transaction to your monthly statement. But are there any other differences between the two? It turns out that there are some major...
Who Are They? Financial fraudsters are after your assets. Identity thieves steal your personal information (often to then commit financial fraud). What Do They Want? Your Money and Your Life Social Security Numbers, passports, driver’s licenses, and similar identifying information. Financial account and credit card numbers. Passwords (or insights about you that help them guess at weak ones). Your and family members’ contact information (name, address, phone, e-mail). Your and family members’ birth dates. Details...
Valerie Peck |
So how is your year going so far? Here are six financial best practices to keep in mind. Pick a few of them or take on the entire list. Either way, you’ll be that much further ahead by the time 2020 rolls around. Do nothing. Seriously. If you have a well-built investment portfolio in place, guided by a relevant investment plan, your best move in hyperactive markets is to let that plan be your guide...
Valerie Peck |
There are many ways that we support our favorite charitable causes. However, one of the most beneficial ways to support a favorite charity now and into perpetuity is through planned giving. While almost any larger nonprofit organization has an active planned giving program, it may come as a surprise that many smaller nonprofits are also eager to work with their donors on planned giving options. Before you make a commitment, be sure to check with...
Valerie Peck |
Value vs. Growth Investing There are those who favor value and those who favor growth. Provided by Peck Financial Advisors You might be initially confused by these terms or even suspect they aren’t that different in terms of what each model offers you as an investor, but they are very distinct approaches, and it’s good to understand these two schools of thought as you invest. This understanding could help you make important investment decisions, both...
Valerie Peck |
Value vs. Growth Investing There are those who favor value and those who favor growth. Provided by Peck Financial Advisors You might be initially confused by these terms or even suspect they aren’t that different in terms of what each model offers you as an investor, but they are very distinct approaches, and it’s good to understand these two schools of thought as you invest. This understanding could help you make important investment decisions, both...
Valerie Peck |
Tolerate the Turbulence Look beyond this moment and stay focused on your long-term objectives. Provided by Peck Financial Advisors Volatility will always be around on Wall Street, and as you invest for the long term, you must learn to tolerate it. Rocky moments, fortunately, are not the norm. Since the end of World War II, there have been dozens of Wall Street shocks. Wall Street has seen 56 pullbacks (retreats of 5-9.99%) in the past...
Valerie Peck |
Tolerate the Turbulence Look beyond this moment and stay focused on your long-term objectives. Provided by Peck Financial Advisors Volatility will always be around on Wall Street, and as you invest for the long term, you must learn to tolerate it. Rocky moments, fortunately, are not the norm. Since the end of World War II, there have been dozens of Wall Street shocks. Wall Street has seen 56 pullbacks (retreats of 5-9.99%) in the past...
Valerie Peck |
1099 Forms Explaining these ubiquitous forms and their uses. Provided by Peck Financial Advisors What is a 1099 form? This is a record of payment from an individual or entity, showing a payment, generated for your records. The individual/entity sends a copy to both the payee as well as the I.R.S.1 Who might be sending 1099s? Clients send their freelancers 1099s, recording work performed. Banks send 1099s to reflect interest from a savings account. A...
Valerie Peck |
The A, B, C, & D of Medicare Breaking down the basics & what each part covers. Provided by Peck Financial Advisors Whether your 65th birthday is on the horizon or decades away, you should understand the parts of Medicare – what they cover and where they come from. Parts A & B: Original Medicare. There are two components. Part A is hospital insurance. It provides coverage for inpatient stays at medical facilities. It can...
In this month’s recap: equities rally here and around the world, economic fundamentals look solid, the pace of home sales slows, and oil surges. Monthly Economic Update Presented by Peck Financial Advisors, February 2019 THE MONTH IN BRIEF During a month marked by political impasses in the United States and United Kingdom, equities performed well around most of the world. On Wall Street, the S&P 500 advanced 7.87% in January, with a new earnings season...