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You may have heard people in the office talking about FedNow. FedNow is an instant payment service that the Federal Reserve will offer businesses and individuals to send and receive money within seconds on a 24-hour, 365-days-a-year basis. The Federal Reserve's goal is to revolutionize how people transfer money and manage transactions. Pros Real-time Payments and Refunds. This capability helps lower the delays consumers have to contend with when accessing traditional payment system

How to Make Keeping Track of Your Finances EasyNow is an excellent time to start evaluating your current financial situation, determining your future goals and expectations, and working toward pursuing them. If you need help pulling together a plan for your finances, a financial professional can explain how you can work together to identify strategies to help you work toward financial independence. Making a plan for your finances may give you the confidence to stay on track to work toward your g

It can be easy to get swept up in the vacation whirlwind and lose track of how much money you’re spending.From airfare and accommodations to frequent dining out and shopping, the cost of a memorable getaway can quickly skyrocket, leaving you sweating over how to wrangle your budget back together once it’s over. But with these strategies, you can take a breath and regroup without letting financial stress overshadow your blissful travel memories. Survey the damageBefore you can fo

The vital role of inflation in planning for children’s college expenses   In today's rapidly changing economic landscape, proper planning has become more critical than ever. When it comes to saving for children's college expenses, accounting for inflation is a fundamental aspect that cannot be overlooked. Inflation, the gradual increase in the cost of goods and services over time, has the potential to erode the purchasing power of your money if not factored into your finan

Got Investophobia? Here are 6 Steps to Overcome Your Investing Fears  Investing your money for the future might be one of the quickest ways to grow your wealth, whether saving for retirement or making a large purchase. While most people know investing is a potential way toward a more manageable financial future, some may find investing challenging and somewhat scary. Here are a few simple steps to help overcome your investing fears. Step 1: Start Small Don't get caught up thinking y

 You often hear people discuss "saving for retirement,” but in many cases, they're actually referring to their investing. The adage "you can't save your way to wealth" is simplistic, but has a kernel of truth; putting your money in a savings account often won't be enough to outpace the rate of inflation, which can erode the value of your savings over time. Below, we discuss some of the key differences between investing and saving and how to choose the most o

  Planning for your financial future and retirement looks much different now than in previous years. Some people must supplement their Social Security to have enough to maintain their desired lifestyle. This means financial planning is now a critical component of retirement. While having a financial professional on your side is vital to managing your financial future, so is visualizing what your future may include. Visualizing Helps You Determine How Much You Need in Retirement One of th

 Loss aversion, or the phenomenon of experiencing losses much more severely than gains, can lead to unwise investment decisions. Whether you're hanging on to a loser of a stock for longer than you should or are afraid to invest at all for fear of purchasing at a high point, making emotion-based investment decisions could mean leaving money on the table.Below, we discuss how fear and anxiety can negatively impact your investing decisions, as well as some steps you can take to minimize th