Budgeting

The Equifax Headlines: Free Money?

Alp Atabek, AIF®

Alp Atabek, AIF®

Blog Post

If you’ve been paying attention to the news recently, you have most likely noticed the plethora of headlines boasting the opportunity to claim a free $125 from Equifax, one of the three national credit bureaus that experienced a massive security breach nearly two years ago, in September 2017. To give a brief overview of the situation: Equifax has agreed to pay nearly $700 million to settle federal and state investigations into how the company handled its massive data breach that affected over 50% of Americans. The settlement states that an individual who had his or her data hacked is eligible to receive either up to ten years of free credit monitoring or claim a $125 payment. To determine if you are among the more than 140 million Americans whose information was compromised by the Equifax breach, use the Equifax claim verification form (this takes less than a minute to do!). After determining your status, the next question is, should you go for the $125 and never look back or sign up for the ten years of free credit monitoring? One thing is for sure: do something! Jack Gillis, Executive Director of the Consumer Federation of America, says “There should be no reason whatsoever not to file,” as the process is quite quick and easy. 

Continue Reading

Financial Jargon Defined: Cash

The world of finance and investments is notorious for its extensive use of jargon. With a goal of enhancing financial literacy and making the finance world more transparent, we are committing to a “monthly jargon” post that focuses on debunking various financial terms that are continuously used sans explanation. This month, we are addressing the oversimplified and mistakenly one-dimensional term “cash.”

Continue Reading

Financial Jargon Defined: Self-Insurance

As we said last month, the world of finance and investments is notorious for its extensive use of jargon. With a goal of enhancing financial literacy and making the finance world more transparent, we are committing to a “monthly jargon” post that will focus on debunking various financial terms that are continuously used sans explanation. This month, we are addressing “self-insurance.”

Continue Reading

Five Ways to Optimize Your Employer’s Retirement Plan

With traditional pension plans fading away, the 401(k) is the easiest way to save for retirement. Think about it – the money is taken out of your paycheck before you even have the chance to spend it! Because of this, your 401(k) is most likely your biggest source of retirement savings; yet, over half of Americans don’t understand exactly how 401(k) plans work. Our goal is to change that. Here are five pieces of advice to consider when it comes to maximizing the benefits of your company’s retirement plan.

Continue Reading

Is Dave Ramsey's Approach Idiotic?

OK, maybe the title of this post is a bit harsh. But let’s be honest: life is short. We should enjoy our time on this lovely earth while we are here.

Before we go any further, let’s be clear: what I DON’T mean is that we should all live beyond our means and rack up a mountain of debt. But we should be realistic about where we are now, where we want to be, and how to get ourselves in a better financial place while still having (at least a little) fun along the way.

So, what’s wrong with Dave Ramsey's approach? Well, it isn’t always financially sound. Let’s take a look at each “baby step” and set the record straight:

 

Continue Reading

Is Disability Insurance Worth it?

Insurance: security, protection, coverage – overall, a comforting word that we welcome, especially in terms of our financial lives. There are numerous types of insurances in the financial world, and the variety of options can be daunting at times. Disability insurance is one type under the insurance umbrella that is often overshadowed by its peers, life and health insurance, despite it being just as important of a part in terms of your overall financial plan.

Continue Reading

Is it Time to Set Your Kids Financially Free?

Alp Atabek, AIF®

Alp Atabek, AIF®

Blog Post

Conversations that bring money into play are notoriously difficult to have. As parents, we want to help and support our children in every way we can – even if doing so is at our own financial expense. When it comes to setting your young adult kids financially free: When is it time to (forcibly) nudge them to spread their wings? Here are three questions to ask yourself and reflect on when determining if it’s time to cut the purse strings.   

Continue Reading

New Module

Add content here.