MoneyWisdom Blog

How to Find the Right Broker for Your Investment Property Purchase

Posted by Phil Purcell on Jan 10, 2020 7:30:00 AM

Many things play a part in your journey to investment property ownership, starting with finding the right real estate agent or broker. There are literally hundreds to choose from so where do you begin?

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Topics: Business, Investments

Questions to Ask Before Investing in Real Estate

Posted by Phil Purcell on Jan 4, 2020 7:00:00 AM

Being a real estate investor is an appealing idea for many people. It can seem like a fun and lucrative way to make some extra money. But, of course, it’s not quite as simple as that. Before you sink money into an investment property, you need to know what your ultimate goal is:

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Topics: Investments

How to Keep Your Financial Resolutions in 2020

Posted by Sandra Quadros Bowles on Jan 1, 2020 12:15:00 AM

It's now 2020, a number synonymous with clarity and vision.

So what better time to take a good, hard look at your finances?  

Consider making a resolution to save money, one of the best ways to secure many happy new years ahead.

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Topics: Insurance, Investments, Personal Finance, Life Changes

What is a Routing Number and 5 Ways to Find It

Posted by Diana Burrell on Nov 13, 2019 10:03:59 AM

If you're establishing direct deposit through your employer, ordering checks, or transferring money between financial institutions, you'll be asked to provide a routing number along with your personal account number to execute the transaction. 

A routing number is a 9-digit code identifying a financial institution, such as a credit union, bank, or investment firm. This number helps reduce confusion between financial institutions that may have similar names and allows money to flow between these institutions without glitches. Sometimes an institution may have more than one routing number depending on its size and the type of account (checking account vs. investment account, for example). 

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Topics: Investments, Personal Finance

9 Smart Moves for Lottery Winners

Posted by Hanscom Federal Credit Union on Oct 10, 2019 3:47:00 PM

Beating incredible odds, you’re holding a winning lottery ticket in your sweaty-hands. Your heart is racing. You’ve checked the numbers more times than you can count. What should you do? Breathe. We spoke with several investment advisors and attorneys to find out the top advice for lottery winners, and we share their advice here.

To start, they advise that you don’t make any life changes right away. In fact, keep quiet about your winnings until you have had time to think through the consequences of making the news public. Don’t go on a spending spree. Don’t post your windfall on Facebook. Do everything that you can to maintain your privacy because predators will be knocking at your door. 

Next, follow these smart steps for lottery winners: 

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Topics: Investments

Here's The Difference Between An Heir And A Beneficiary

Posted by Diana Burrell on Sep 18, 2019 7:45:00 AM

Many people use the terms "heir" and "beneficiary" interchangeably, but there are important differences between the two designations. Here's how an heir and a beneficiary differ:

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Topics: Investments, Life Changes

3 Ways to Build Wealth with Direct Deposit

Posted by Diana Burrell on Aug 27, 2019 2:17:09 PM

If you're a fan of direct deposit, you know how much time it saves you: there's no running to your financial institution with a paper check in hand, hoping you'll get there to cash it before closing. You don't have to wait around for your check to clear before you pay your bills. And you'll never spend time worrying if your check got lost in the mail, or worse, stolen.

Direct deposit is dependable and simply makes life easier. But did you know direct deposit can also help you build wealth? Here's how:

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Topics: Business, Investments, Personal Finance

5 Ways to Celebrate National Financial Awareness Day

Posted by Sandra Quadros Bowles on Aug 13, 2019 10:33:23 PM

The day may not be as well-known as Christmas or Thanksgiving, but Aug. 14 is a milestone day that could change your life. National Financial Awareness Day is celebrated Aug. 14. This date reminds us to be aware of how to build financial stability and to be prepared for our financial future. After all, ignoring your financial situation can be scarier than Halloween. So here’s five pieces of good advice to consider on this Financial Awareness Day. Recognize these sayings? They apply to finances as well:

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Topics: Investments, Personal Finance

Sign Up for Free Financial Education This Summer

Posted by Diana Burrell on Jul 9, 2019 1:14:48 PM

As a not-for-profit financial cooperative, Hanscom Federal Credit Union is accountable to its members — that's you! — and not a profit-driven group of shareholders. This means it's in our best interest for our members to have financial tools at hand and the wisdom to make sound decisions about their money. When our members do well, we do well, and it's why we offer free financial education for anyone who's looking for a secure financial future.

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Topics: Investments, Credit Cards, Personal Finance, Life Changes

Be Prepared for Changes in Social Security

Posted by Sandra Quadros Bowles on Jun 26, 2019 7:43:00 AM

Recent news headlines have many Americans worried, suggesting that in the future, monthly Social Security checks may be smaller than expected. According to a troubling report recently issued by the federal government, Social Security payouts will exceed incoming contributions in 2020. As a result, Social Security's reserve fund will be depleted in 16 years and monthly checks will be smaller than currently scheduled, unless Congress steps in.

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Topics: Investments, Life Changes

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