Has Your Identity Been Compromised?

From FTC blog:

If you have a credit report, there’s a good chance that you’re one of the 143 million American consumers whose sensitive personal information was exposed in a data breach at Equifax, one of the nation’s three major credit reporting agencies.

Here are the facts, according to Equifax. The breach lasted from mid-May through July. The hackers accessed people’s names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers. They also stole credit card numbers for about 209,000 people and dispute documents with personal identifying information for about 182,000 people. And they grabbed personal information of people in the UK and Canada too.

There are steps to take to help protect your information from being misused.

Read more 

Retirement Security

What does retirement look like for you?   Do you see sandy beaches and a frozen drink in your hands or are you like many facing a retirement of continued work to make ends meet?  While Census figures indicate that retirees live an average of 20 years in retirement, the average nest egg saved for retirement would only cover approximately 3 years of pre-retirement expenses.  Whether you are just beginning your career or ending it, now is the time to plan for your golden years!

Retirement Security

October 4, 2017
5:00 - 8:00 pm
Meyera E. Oberndorf Central Library
4100 Virginia Beach Blvd.  

Get great information on Social Security, estate planning and retirement funding, reverse mortgages and more.  Meet individually with CERTIFIED FINANCIAL PLANNER(tm) professionals, Medicare counselors, Estate Attorneys and more!  No strings attached.  Presentations and free resources will help you live well for as long as you live!

Schedule:

5:00 pm - 7:45 pm - Meet one on one with planners, Medicare counselors, estate attorneys.  Bring your questions!

5:30 pm - 6:15 pm - Retirement Security: Your Financial Planning Starter - speaker Bob Ponton, CFP(r) from Financial Planning Association of Hampton Roads

6:30 pm - 7:15 pm - Splitting Heirs: Control Your Finances from Cradle to Grave - speaker Ginny Brown, PC from Financial Planning Association of Hampton Roads

REGISTER for this free, no strings attached event.

Weather Policy

Inclement weather can show up any time of the year.  Because our Bank On Hampton Roads classes are offered multiple times throughout each month, if there is a weather event and you do not feel comfortable traveling to the class location, please check out the calendar of classes to find an alternate location for your class.  Please do not put yourself in danger to attend a Bank On Hampton Roads class.

Bank On Hampton Roads classes will be provided at their regular schedule UNLESS the libraries in that city are closed because of weather.  Most cities advertise the early closure of their public locations such as libraries, so it should be easy to determine if your class will be held at its regular time and location.

If you follow the Bank On Hampton Roads Facebook page, there will be an announcement of any class schedule change listed there as well.

Living Paycheck to Paycheck? You are NOT Alone!

Barely scraping by is becoming less of an isolated event and more of a way of life for Americans.  Recently, a study released by Careerbuilder.com indicated that 78% of Americans are living paycheck to paycheck.  For these Americans, financial stress is common and employers should be concerned about the loss of productivity among their employee base.  If you are in this majority group of Americans, there is hope!  Bank On Hampton Roads can help you gain control of your monthly finances so that you can have more money to reduce debt and to build savings!

Living paycheck to paycheck is not limited to low-income Americans.  Nearly 10% of Americans earning more than $100,000 reported that they are living paycheck to paycheck.  As income ranges decrease there is an increase in the percentage of those living moment to moment.  28% of those earning 50K - 99K and 51% of people earning less than $50K usually or always live paycheck to paycheck.

Savings is the key to breaking the paycheck to paycheck cycle, but 25% of workers indicate they are not setting aside ANY savings each payday and 56% percent save less than $100 per month.  It is clear that the majority don't have enough saved to cover emergencies much less periodic expenses, hence, we could be just one hiccup away from a real financial crisis!  Additionally, 18% of Americans surveyed indicated they have reduced their contributions to their 401(k) and 38% make no contribution at all!  Retirement is starting to look like a distant dream for many.

Finally, dependence on debt is increasing.  25% of Americans say they cannot make ends meet from month to month.  What does that mean?  When the going gets tough, the credit card comes out to tide us over.  71% of those surveyed indicated they are in debt and 56% believe they will always be in debt.

While the statistics paint a grim picture, Bank On Hampton Roads is here to help you avoid being a statistic.  In 10-months, you can increase savings, build credit and reduce debt with the help of a personalized coach and once per month classes.  Now is the time to take action!  New classes begin in September 2017 and best of all they are FREE!  Invest in yourself - sign up today!