The Federal Deposit Insurance Corporation (FDIC) recently closed nine banks in one day. The closings boosted the number of failed U.S. banks this year to 115. Given that, and the recent turmoil at CIT Group, you might be worried about the safety of your money in financial services and investment companies.
What advice do financial planners have for Americans who are worried about the money they have in banks and brokerage accounts? Here's what FPA member Sam Hull, CFP®, CPCC, a partner with Whitewater Transitions, had to say:
"Bank On Memphis" – a financial literacy program that debuted in 2011 – has been fine-tuned and given a sharper focus.
The program's relaunch is a collaboration that features Mayor A C Wharton Jr. and David Lenoir, Shelby County Trustee. Wharton and Lenoir are moving forward with the program thanks to a $10,000 contribution from Regions Bank. The funds are directed toward the costs of outreach, including a renewed marketing push.
NEW YORK – Modest hiring continued in November and the unemployment rate fell to its lowest level in nearly four years, according to a report released Friday.
The U.S. economy added 146,000 jobs in November, and the unemployment rate fell to 7.7 percent from 7.9 percent in October, the Labor Department said. While that's the lowest unemployment rate since December 2008, it fell due mainly to workers dropping out of the labor force.
Back in the 1950s as many Americans entered homeownership, the one common goal was to eventually pay-off the mortgage and own the house outright. Many years later, when the mortgage was paid-off people would have mortgage-burning parties where they invited friends and relatives to watch them burn the mortgage papers after making their last payment.
Reaching this goal was a sign of success and represented a way to a worry-free retirement.
Certification – the cornerstone of supplier diversity programs – is our month-long focus for "On Our Way To Wealthy."
A supplier diversity program is a business program, which encourages public entities and the private sector to use historically under-utilized firms.
(NEW YORK) – Instagram voluntarily pulled the plug on its Twitter photo integration on Wednesday, upping the stakes in a growing turf war between the rival social networks.
Previously, when Instagram users tweeted about their latest Instagram photos, the image would appear inline with the tweet. At the moment, those inline images are cropped and improperly formatted in mobile apps. Going forward, the images will cease to exist at all in any Twitter product, according to Instagram.
With the "fiscal cliff" looming, many Tennesseans are wondering what the Dec. 31st deadline to address expiring tax and spending cuts means for them.
Some of the changes under consideration in Washington to avert the nation's financial conundrum could have a significant impact on the health and financial security of Tennessee seniors, their children and grandchildren, the American Association of Retired Persons (AARP) has found.