Designing an investment portfolio can be a complex process at any age. It requires consideration of various variables such as risk tolerance, time horizon, and financial goals; however, there is one rule that always holds true for investors: **Rule** Never put yourself in a position where you MUST sell assets when they are down to […]
By The Welch Group Banks play a vital role in the economy, providing individuals and businesses with access to cash, credit, and other financial services. Despite their importance, however, banks can fail. And when they do, the effects often cause panic in the wider economic environment. This past week, two major players in the banking […]
Recently, the Silicon Valley Bank (SVB) failed without much warning in a matter of days leaving many bank depositors across the country wondering if their deposits were safe. The good news is that SVB was a member of the Federal Deposit Insurance Corporation (FDIC), which means that deposits of up to $250,000 are protected. However, […]
For years, monitoring your cash and cash equivalent accounts was not worth your time as they yielded close to 0% interest. However, the conversation around cash has changed drastically since 2022, and it now pays to understand the difference between checking, savings/money market accounts (MMA), and money market mutual funds (MMF). A few easy adjustments […]
By The Welch Group Retirement planning can be an overwhelming process, and understanding Social Security can be a big part of that. Thankfully, there are resources to help you comprehend what Social Security is and how it fits into your retirement plan. Social Security benefits can be an important part of your post-retirement income, so […]
By The Welch Group As healthcare professionals continue to navigate the challenges of the pandemic, many are likely dreaming of a quiet and peaceful retirement. Unfortunately, more than 40% of healthcare workers reported that their financial situations have gotten worse since the onset of COVID-19. Even without factoring in COVID-19 stressors, physicians and healthcare professionals […]
Last week, we discussed how young to start teaching your children the value of a dollar and how to manage it. Now, let’s focus on tips to help teach money management skills to the Young Adults in your life. For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox 6 for the […]
School started this past week for most students. One question I often get is, “When should I begin to teach my children about money?” Every child is different and matures at a different rate. Some mature very quickly, while others more slowly. Here are some basic guidelines, but you will ultimately decide when your child […]
Nearly 60% of bills that are in collection and show up on credit reports are medical-related. As of July 1, the three major credit bureaus made changes in their reporting system that could potentially boost your credit score. Experian, Equifax, and TransUnion stopped reporting medical debt that went to collections and was ultimately paid off. […]
So far this year, the Federal Reserve has raised interest rates three times for a total of 1.75%. The Fed is widely expected to raise rates as much as 0.75% in their July meeting plus more rate hikes are likely throughout the year. Why? They are trying to avoid runaway inflation by tamping down the […]