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How to Prepare an Effective Loan Proposal
May 16, 2022 / F&M Trust
Ideal candidates for business loans generate sufficient cash flow to cover loan payments; have a solid, long-term track record of meeting financial obligations; have financial reserves to weather unexpected downturns or setbacks; and have collateral to put up for security.…
Four Common Investment Misconceptions
April 20, 2022 / Warren Hurt
One of the biggest misconceptions I come across in the financial advice industry is that as you get older, you must reduce your allocation to stocks. While this philosophy might be grounded in some truth, it oversimplifies the reality.…
Beware of charity fraud scams
April 15, 2022 / Ray Wills
According to the AARP, Americans donated more than $470 billion to charity in 2020. Charity fraud is a type of imposter scam, the No. 1 source of fraud reported to the Federal Trade Commission. Fake charities try to take advantage of your generosity and compassion for others in need.…
How to use credit freezes and fraud alerts
March 31, 2022 / Ray Wills
The Keystone State ranked 29th in reported identity theft per 100,000 residents that year with nearly 34,000 Pennsylvanians claiming to be victims of the crime, according to the FTC. So, what can you do to reduce the risk of becoming a victim?…
5 Ways to Avoid an Overpayment Scam
March 25, 2022 / Ray Wills
Just remember that there is no legitimate reason for anyone to pay more than the accepted price. Never agree to forward money to someone you don’t know on behalf of a “buyer.” Even if the funds are real, you could be implicated in money laundering.…
Saving for Retirement: IRA Changes for 2022
March 25, 2022 / The Merrill Anderson Company
In 2019, Congress revisited the rules for qualified retirement plans and IRAs, with an eye toward boosting retirement savings. To that end, the age limit of 70½ for making a contribution to a traditional, deductible IRA was eliminated. However, one still must have “earned” income to make any IRA contribution – income from investments, pensions, gifts, and Social Security benefits does not count. …
How small-business owners can offer retirement plans
February 22, 2022 / Chris Moore
As a small-business owner, you want to make a workplace retirement plan available to your employees. But you know you don’t have the time or technical background to handle 401(k) administration. So, what do you do?…
Five basic benefits of working with a financial planner
February 16, 2022 / The Merrill Anderson Company
Thanks to the Internet and YouTube, doing it yourself has taken on a new life. For example, a young person we know was able to diagnose a problem with his clothes dryer, then order the key part and install it, thus saving the cost of an in-home repair. Information that once might have been hard to find outside of specialized publications has become accessible to everyone. But there are limits to self-empowerment. One area in which some people may be overconfident is financial management. There is more to financial planning than setting some goals and pinching some pennies.…