How to Protect Your Credit During Tough Times

If your regular income source has diminished due to the COVID-19 pandemic, protecting your credit may not be one of your top concerns right now. It’s understandable. When the priority is to take care of the essentials, your credit health can easily slide down a few rungs on the priority ladder. But ignoring your credit now could cause financial harm long after you’ve regained your income.

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Tax Tips for Investors

Some years, Congress changes the rules investors face. Other years, the economy necessitates rethinking the best-laid investment plans. In between, investors’ personal situations change, from the arrival of children to the loss of a job.

“Investors face a changing environment,” says Fred H. Thomas, branch manager of Raymond James Financial Associates in Johnstown, Pennsylvania. “They need to maximize their investment dollars.”

Taxpayers trying to build wealth can weather the ups and downs of the tax side of that volatile environment by following a few historically helpful steps. Continue reading

Investing Moves Under a New President

When there’s a change of leadership in the White House, many investors feel compelled to make changes with their investments, too. But making a sudden departure from an investing strategy can often do more harm than good, particularly when it comes to retirement savings. Conventional wisdom dictates sticking with the fundamentals of asset allocation and keeping a long-term perspective.

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Ask the Advisor: Should I Contribute to an IRA?

by Andy Han

Since 2005, Andy has been assisting Credit Union Members with their financial services. He’s passionate about educating Members and stresses that it’s critical they are comfortable with their personalized financial plan and understand how it works.

Many Americans are lucky enough to have a retirement savings plan through their employment. But if you don’t have that option, an Individual Retirement Account – or IRA – allows anyone with earned income to save for retirement. And if you’re self-employed, you can use an IRA to create your own retirement plan. In addition, there are special rules that may allow a stay-at-home spouse to contribute to one as well. Continue reading

The Benefits of Asset Allocation in a Stormy Market

Investing in the stock market can be intimidating, even when the economy is booming. While “buy low, sell high” is sage advice for those entering the market, recent global and national events have sent otherwise confident investors on a roller coaster of emotions. It’s understandable. There have been several twists and turns in the market in 2020, and experts are expecting even more in the coming year. But that doesn’t mean investors can’t protect their hard-earned money with an asset allocation strategy.

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