Securing Your Financial Future...loan—of up to 2%. With three sav-ing levels, you can choose a...

Securing YourFinancial Future

In this special section you’ll find tips on saving and investing and lots of information about ways you can make the future secure for you and your loved ones.

ENTERPRISE� t h e l i v i n g s t o n

�

A special publication of

2018 Securing Your Financial Future q


504 E. Callender [email protected] [email protected]

Peace of mind.That’s what you’ll get from our team who has over 70 years of combined

real estate experience.

Chances are very good your home will

be your biggest investment.

The team at Guardian Title

has the experience to make sure

the title to your home is free and clear.

A long standing Guardian Title tradition -Every month we donate to a local non-profit group

By Hope Angelica Park High School Intern

As the end of the 2017-2018 school year approaches, high school seniors prepare for the next phase of their lives. Students are planning through the various forms

of payment for attending higher education.At Park High School, several seniors revealed

their aspirations and financial fears for next year. Scholarships, loans and working part time are options seniors consider to combat future student debt.

In the 2017-2018 school year, the average total cost per year was $11,970 for public two-year col-leges, according to the College Board, a nonprofit organization designed for evaluating students for higher education. It was $20,770 for public four-year colleges with in-state fees and $35,420 with public four-year colleges with out-of-state fees. Private nonprofit four-year colleges averaged $46,950.

“I feel that every adult that has gone to college that I’ve talked to is thousands of dollars in debt,” Jordyn Toney, 18, said. “It scares me a little, but my parents are willing to help me and if I work hard and save money and spend it well, then I shouldn’t have a lot of debt or any.”

Some students were granted significant scholar-ships for school.

“I’ve currently received an academic scholar-ship and a valedictorian scholarship,” Larissa Saa-rel, 18, said.

Many scholarships seniors received are sport-based.

“I’m playing golf for Rocky Mountain College,” Winston Oppelt, 18, said. “I got their highest scholarship, which is 60 grand for four years.”

Students at Park High School know of the famous “Scholarship Box” in the counselor’s office. Last year, Park High School students received a total amount of $1,051,316 scholarships and $2,145,837 the year before.

“The school does a really good job about inform-ing students about available scholarship opportu-nities and that’s a great asset,” Saarel said. “Mrs. Lentz, the academic dean, has been a great help.”

Even when students take time to go through each individual application process, the possible reality of not receiving those scholarships can be discouraging.

Some students expect to rely more on loans for their future.

“Its hard facing the reality that the only option I have is to take out a loan because my parents aren’t financially capable for paying for all of my college education,” Reagan Smith, 16, said. “I wish they didn’t have to help at all and that I had time to work and save. I do plan on working part time for food and trying to pay off small portions of a loan as I go.”

Smith, who plans to attend university abroad, expressed difficulty of finding scholarships that fit with her goals. However, she believes it is worth the sacrifice.

“It is worth it to me because if I’m going to be spending that crazy amount of money, I might as well spend it on a college and on an education I’ll enjoy and be grateful for down the line,” she said.

The College Board advises students to submit

the Free Application for Federal Student Aid (FAFSA) between Oct. 1 and June 30. Federal, state and college sources consider students for the greatest amount of financial aid through the FAFSA.

Then, they tell students to find other required financial aid forms. Many colleges award aid from their own funds. They tell students to search and apply for private scholarships to help pay for books or living expenses.

Divided on how to feel about their own financial futures, many Park High students revealed that student debt is inevitable.

“The biggest concern that I have is having to pay student loans for a long time and always hav-ing that debt,” Toney said.

Other students were more optimistic on their financial situations and plans.

“I believe there are ways to work past it, but everyone seems to feel as though acquiring some debt is inevitable, so it’s hard to say,” Larissa Saa-rel said.

“I’ve worked hard to put myself in a great posi-tion to receive academic scholarships and I’ve worked towards a basketball scholarship ever since I was young,” Jakim Ricketts said. “I think it’s about finding a balance, but I’ve narrowed my interests down to where I don’t foresee debt. It’s really in God’s hands.”

“I worked hard and persistence paid off in the end,” added Winston Oppelt.

“I don’t have any big concerns,” Sam Saarel, 18, said. “I plan on living my life happy and doing what I love, and as long as I do that, I’ll be just fine.”

Local students weigh how to pay for college


305 E. Lewis St. 222-3301 www.SwandalLaw.com

With over 60 years of combined experience, Swandal Law PLLC and Mediation Center offers

top-notch estate planning, legal and mediation services.

• Nels Swandal • Kendra Anderson• Rebecca Swandal

(Livingston) - In a nationwide survey, the credit reporting firm Experian ranked the people of Big Sky Country seventh in terms of high credit scores. Maybe it’s because we’re cautious and independent, don’t want to live beyond our means, and put value behind paying our debts. It’s just part of who we are. But your credit score can always be better, and that is where Sky Fed-eral Credit Union comes in. We know unforeseen circumstances can affect credit scores. A low credit score can, in turn, limit your ability to borrow money for a home, vehicle, or other major purchase. These limitations can have a cyclical effect: if you can’t buy a car because of your credit rating, you might not be able to drive to the job which can earn you more money to pay bills. Your credit score can be-come a trap that’s hard to escape. The sooner you begin working to im-prove your credit, the more opportuni-ties you’ll have. As part of the com-mitment to helping members build strong financial futures, Sky Federal Credit Union offers a free credit score analysis program. Sky’s credit score analysis is designed to: • Create a plan to improve your credit

score• Lower your monthly debt• Eliminate high interest credit card debt• Protect you from predatory lenders who prey on those who struggle to secure loans with fair interest rates

A Sky credit expert will review your credit score and assess your financial position to help you identify where you can improve it—by budgeting to spend in a more deliberate fashion, moving debt from high-interest credit cards and loans to a consolidated low-interest loan or another tailored solu-tion. By breaking down your credit score, income and assets, Sky can help make the daunting task of addressing your credit issues a lot more manage-able. Sky offers other ways to help you improve your financial position as well, such as a Borrow & Save loan. By committing to put money into savings with each loan payment, mem-bers receive a rate reduction on the loan—of up to 2%. With three sav-ing levels, you can choose a realistic amount to commit to saving and factor in your rate reduction to help make it possible. Money you save is placed in

a high-interest savings account for the duration of the loan, meaning it’ll be waiting for you when the loan is paid off. Another resource is Sky’s personal finance manager. This feature lets you track your in-come and expenses to simplify budget-ing and planning. The online resource can be set to view all of your checking and savings accounts, credit cards, and loans—regardless of the issuing bank or credit card company. Contact Sky Federal Credit Union today and start managing your credit the Montana way. It’s easier than you think. With Sky, you can pursue your dreams in the coming year—and for years to come. Montana Credit Score Ranking Source: http://www.governing.com/gov-data/econo-my-finance/average-

credit-score-by-state.html

Submitted by Stefanie Brown,

Sky Federal Credit Union

Make 2018 the year your credit works for you


By Samantha Hill Enterprise Staff Writer

To avoid troubles after a per-son passes on, lawyers and a Montana State University professor talk about what

you can do to make estate planning easy and beneficial.

Talking to a lawyer can be difficult if you don’t know what you are look-ing for, so professor Marsha Goet-ting, with the MSU Extension Eco-nomics Program, often visits Livings-ton to help locals navigate their way through estate planning before dis-cussing their futures with a lawyer.

Goetting said about seven out of 10 people are without a will when they die. Even based on talks she has giv-en, the statistic fits with her general audience as well.

She said often people don’t like to worry about things like wills until they are in their 50s.

“It is probably more important if you can do it when you are in your 30s,” Goetting said.

Goetting’s biggest advice is for everyone to visit http://www.mon-tana.edu/estateplanning/eppublica-tions.html, where MSU has a free list of 40 different guides that consist of

anything from wills to annuities to power of attorney.

She said these guides can work for Montana residents who want to know a little more about what they need to do before going into an attorney’s office.

One of the ways she tries to motivate

people to think more seriously about their wills is telling them how the state of Montana would decide what happens to their kids or their other assets if they were to die without one.

Goetting said it might go to their spouse or their child but if a person doesn’t have a will, their belongings may go to the next available relative.

A person may want to give certain assets to specific family members rather than just splitting them up between the children or grandchil-dren, Goetting said.

A person could add a separate para-graph to the will, called a separate listing of tangible assets, and more information on that can be found under the guide, “Who gets Grand-

ma’s Yellow Pie Plate?” People may also have concerns

about their final arrangements. Some may set up a funeral trust plan by talking to a funeral director before they die. But if not then, the estate will go through the assets to identify how much to pay out for things like funeral costs and cremation or cas-kets during the probate period. More information on that may be found under the guide, “What are your rights over your remains?”

Even though Goetting has a Ph.D, she still feels like contacting a law-yer for her own will was very impor-tant.

“You should still pay an attorney because they will know more than you do,” she said. “They still brought up things I hadn’t thought about.”

After going through some of the online guides, a person may be ready to approach a lawyer just to get the details official and ironed out.

Attorney Rebecca Swandal of Swandal Law & Mediation Center said it is important for people to arrange their will as early as possi-ble, listing their benefactors.

However, the best time is when a person begins to have children.

Swandal said that it is good to set

up potential guardians for the chil-dren and the amount of assets they will acquire depending on their age.

She said when a person walks into her office wanting to write up a will, she often asks them a series of ques-tions setting up what the person has to offer their family, without getting into too much personal detail, just a rough ballpark to determine whether it would be best to set up trusts.

Often, the simplest of wills will say that the person’s assets will go to their spouse, and if the spouse dies, then the assets will go in equal shares to children.

Swandal said that when a person has a “mixed” family, such as step-children, things get more complicat-ed — something a lawyer can help sort out.

In the state of Montana, people can hand write their own wills as long as they are signed. However, Swandal said it is easier to go through a law-yer because it doesn’t have as much likelihood of being disputed after someone’s death.

Attorney Joe Swindlehurst of Hup-pert, Swindlehurst & Woodruff, P.C., said that often times people will pro-crastinate, but really its nothing to worry about.

Area experts make estate planning easier

Marsha GoettinG

JuhnkeAGenCY

For all your insurance needs • Serving Park County for 45 Years

Debbie u Clint u Rusty• Road Work • Demolition • Site Development & Septic Systems

• Pond Development & Flood ControlServing Park County for over 45 Years

222-1495 • 222-0982

218 S. Main • 222-0982

Juhnke'sMontana Junk

& antiques

Juhnke’sCountry Living excavation

(BPT) - Anyone who has tried to bor-row money to purchase a car, buy a home or open a revolving line of credit may be familiar with the term FICO Score. Most lenders use this scoring model, which essentially determines a person’s creditworthiness. “The FICO Score may seem like a big, daunting mystery, especially since your score can have a huge impact on your ability to borrow money at a competitive rate,” said Jim Johnston, of Colorado-based Bellco Credit Union. “The truth is, however, you do have power over your credit score, and there are things you can do to improve it over time.” How FICO Score is calculatedFICO was named for the data analytics company Fair Isaac Co., which cre-ated the first credit-scoring system. In general, a credit score breaks down as follows: • 35 percent is your payment history - Do you pay bills on time? • 30 percent is the amounts you owe (on loans, credit cards, etc.) - Owing money on different credit accounts is not necessarily bad, especially if you’re paying your bills on time every month. FICO considers how many of your accounts have balances, if you’re using your entire credit line, and how

much of any installment loan you still owe. • 15 percent is the length of your cred-it history - Having a long credit history is good, but even if you’re young and barely have any credit history (such as credit cards and a car loan), you can still have a high FICO score. • 10 percent is your credit mix - What is your mix of credit, meaning credit

cards, retail accounts, installment loans, mortgage loans, etc.? A good mix of credit, especially with a history of on-time payments, is helpful to your score. • 10 percent is any new credit - If you’ve opened numerous credit ac-counts in a short period, this can have a negative impact. Although closing a credit account still shows up on your

credit history, it has no impact on your score.

Tips to improve your score Repairing your credit takes time, so it’s important to be patient. Below are three things you can do. 1. Check your credit report - The first thing you should do is get a free copy of your credit report and make sure there are no errors. If you find an error, you have the right to dispute it with the credit bureau. 2. Get organized - Don’t make any more late payments on your credit cards. The best way to do this is to get organized. Set up auto payments through your bank or credit union, or set reminders to make payments before they are due. 3. Pay down your debt - While this is no easy task, it will make a difference. Use your credit report to make a list of all your credit cards and the balances you owe. Pick the credit cards with the highest interest rates, and tackle those balances first. Most importantly, don’t add to your debt by continuing to use your credit cards. Your FICO Score does not take into ac-count annual income, length of employ-ment, or other sources of financial sup-port such as alimony or child support.


How you can improve your FICO Score

FEDERAL & STATE TAXES n 1031 EXCHANGESACCOUNTING n PAYROLL SERVICES

Michelle A. JolleyEnrolled Agent

P.O. Box 609Livingston, MT 59047

Ph: 406.222.9292Fx: 406.222.9291

[email protected]

Stop by for your free State Farm Insurance and Financial Review®.Like a good neighbor, State Farm is there.®

CALL ME TODAY FOR MORE INFORMATION.

Protect your family.

Prepare for their future.

I can help with both.

1001386.2 State Farm, Home Office, Bloomington, IL

Dean Hendrickson, Agent224 W Lewis

Livingston, MT 59047Bus: 406-222-2250

[email protected]


Protecting Your ProPertY rights

Your Life Will Change Over TimeYour Peace Of Mind Never Has To

As Long As You Own Your Home,Owner’s Title Insurance Protects

Your Property Rights

That Is Peace Of Mind Every Homebuyer Deserves

206 East Callender Street, Livingston, MT 59047

✧ (406) 222-0362 ✧ www.amtitlemontana.com

(Livingston) - Financial literacy and savings habits are important skills to develop, beginning at a young age. While many banks participate in programs that encourage financial literacy, such as the American Bankers Associations programs Teach Children to Save and Get Smart About Credit, there are several ways that you can interact with your children to help teach them important life-long savings strategies. By setting the example, and including your children in savings strategies

and goals, children not only feel more included, they are likely to take the lessons you are attempting to teach them to heart. Remember, experience is a wonderful teacher. Do not be afraid to visit with your children regarding savings strategies, budgets, and other financial long term goals. Speak candidly with them regarding a “save some, spend some, and share some” plan. Remind them to pay themselves first, in the form of putting some money away in savings, or a

college savings account, or remind them that when they are old enough they can begin saving for retirement. Discuss with your children the concept of “needs vs. wants” and explain to them the importance of saving for a rainy day. For older children, explain to them the importance of saving for unexpected expenses or emergency need. Older children can begin to learn the importance of saving to pay for that new car they would like and begin to learn what a budget is by including them in

the discussion about their insurance for the car. Setting long-term goals can also be a family affair. Include your children in discussions about saving for the next fun filled family vacation and include them in the savings plan for it. Also, understand that experience and hands on learning is important for your children to learn savings habits.

Jennell Huff,Bank of the Rockies

Children and good savings habits

Retirement readiness: Hitting the retirement sweet spot (BPT) - A recent study by the Center for Retirement Research (CRR) at Boston College suggests an alarming state of awareness about retirement readiness: Of surveyed households, 33 percent realize they are not well prepared, 19 percent are not well prepared but don’t know it, and 24 percent are well prepared but don’t know it. Consider the following behaviors, which are more likely to be modeled by those who are well prepared for retirement.

Asset accumulationA high-level approach to ensuring adequate retirement assets is to save a

minimum of 10 percent of your gross income each year. You may need to save even more depending on your asset accumulation goals and how many years you have left to save before retirement.

BudgetingNot all budgets need to detail specific spending items. Rather, you can consider yourself working within a budget if you know that each year you are saving and not creating new debt (and paying off legacy debt for your education or home).

Personal debtMany of us are saddled with personal

debt from college and graduate school. This debt has become so burdensome that the customary progression to home ownership has been delayed for many. Paying down personal debt should be job one.

Mortgage debtIt used to be commonly accepted that you pay off your mortgage before retirement, but more and more retirees are entering retirement with mortgage debt. The old rule remains the best approach.

Social SecurityWith traditional pension plans less commonly offered by employers,

Social Security has become an even more important source of guaranteed lifetime retirement income. By waiting to age 70, you can increase the benefit payment significantly, which is also the base for annual Social Security cost-of-living increases for the rest of your life.

Health careHealth care is the single greatest cost in retirement, and various studies estimate the cost to be $250,000 or more for a healthy 65-year-old couple. To the extent possible, utilize Health Savings Accounts and bank any unused amounts annually to build up a tax-free health care fund for retirement.


Common tax mistakes to avoid (BPT) - Life changes - getting mar-ried, having a baby, buying or selling a home, sending a child off to college or retiring - often come with changes to your tax situation. Overlooking these changes when filing your taxes can lead taxpayers to make mistakes that leave money on the table, potentially impacting their refund at a time when the average refund is about $2,800. Here is a list of common tax mis-takes to avoid to help ensure you don’t miss any deductions or credits that you deserve.

Using the correct filing status One of the most common mistakes taxpayers make is selecting the wrong filing status. A taxpayer’s filing status can affect which credits and deduc-tions they’re eligible for, the value of their standard deduction and their tax bracket. One situation that can make choosing a filing status difficult is when more than one filing status seems to fit. For example, if a tax-payer with children is in the process of getting a divorce, they may not be sure if they should file as married fil-ing jointly or married filing separately or, in some instances, whether they qualify to file as head of household.

In this case, the taxpayers should run the numbers to see if filing jointly or separately is more to their advan-tage rather than guessing.

Commonly overlooked credits and deductions Most taxpayers file their taxes using the standard deduction, but you may be eligible for a variety of itemized deductions that could possibly save you more. Also, you may be eligible for “above-the-line” deductions and tax credits, none of which require you to itemize. And it’s important to note that the newly passed tax reform gen-erally does not impact these credits or deductions until you file your 2018 tax return in 2019.

Earned Income Tax Credit for lower-income workers: Twenty percent of eligible taxpay-ers, particularly lower-income work-ers, do not claim the Earned Income Tax Credit (EITC). Depending on their income and the number of children they have, these taxpayers may be eligible for an EITC of $503 to $6,242. Since eligibility can fluctuate based on financial, marital and parental status, taxpayers can be ineligible one year

and eligible the next. Under the PATH Act, taxpayers who claim the EITC and who file early will have their refunds delayed until mid-February. Despite the delay, taxpay-ers should file as they normally would to get their refund as soon as possible.

Education credits: Depending on your academic pro-gram, what year the student is in, income and other restrictions, there are federal tax credits that can help offset the costs of higher education for yourself or your dependents. To qualify, you must pay for post-second-ary tuition and fees for yourself, your spouse or your dependent. Depending on the criteria, a student may use the American Opportunity Credit of up to $2,500 or the Lifetime Learning Credit of up to $2,000.

Itemizing deductions: Itemizing can save taxpayers hun-dreds of dollars, as only one third of taxpayers itemize but millions more should - especially homeowners. Owning a home is often the key that unlocks itemization, but some taxpay-ers with high state taxes and chari-table contributions may also be able to

itemize.

Itemizing enables eligible taxpayers to take deductions such as:

• Charitable donations

• Medical expenses that exceed 7.5 percent of adjusted gross income

• Personal property taxes

• State income or sales taxes

• Casualty losses such as a fire, hur-ricane or earthquake

• Mortgage interest payments

Not filing On average, the IRS announces an-nually that approximately $1 billion goes unclaimed in federal tax refunds. Taxpayers can claim a refund for up to three years after the filing dead-line. There is no late-filing penalty if a taxpayer is due a refund. Also, even if you are not required to file a return, you may be entitled to a refund. Taxpayers who want to ensure they get the maximum refund without a de-lay should make an appointment with a tax professional.


Tips for women to advance their careers (StatePoint) As more women feel emboldened to raise their voices and fight for workplace issues that matter most to them -- from equal pay and development opportunities to sexual harassment on the job -- it’s important to both reflect on progress made and recognize there are many more milestones to be attained. Only one-third of women feel they have as many or more opportunities than men at their current companies, according to a recent survey by Randstad US. And, 58 percent cited the lack of promotion to leadership roles as a top reason for gender inequality in the workplace. If you are a working woman looking to advance, expand your responsibilities, or launch a new career, here are four tips that can help you achieve success.

• Pursue mentorship opportunities. Having a mentor can create lasting value when working to become a leader. Mentors can be your support system, whether it’s providing encouragement to pursue growth opportunities or identifying blind spots and areas of improvement. Coming from experience, mentors can bring a wealth of knowledge to move you in the right

direction.

• Embrace failures. In your professional life, there will be successes and failures, good days and bad. Don’t allow one negative interaction or misstep to ruin your day, and don’t let fear prevent you from moving forward. However, you should briefly reflect to learn from failures: What made you miss that project deadline? Why did a presentation fall flat? Use these moments as opportunities to develop

short- and long-term goals to overcome any potential barriers.

• Step outside your comfort zone. Taking risks can lead to great rewards. While certain scenarios, such as initiating a conversation with your boss, can be daunting, it can also lead to stronger trust and a better relationship. In uneasy moments, such as public speaking, you have the opportunity to build self-esteem and strengthen underused skills. Every uncomfortable

situation elicits something gained.• Own your professional growth. Ask your manager to assign you to projects in which you’ll have the opportunity to learn something new -- whether it’s on your own through research, or through interaction with other team members and departments. Go beyond what’s asked of you by taking online courses and reading books (hint: your mentor can likely give you some recommendations). Lastly, make it apparent to your manager and colleagues that you are willing to contribute or lend a hand when needed. The bottom line: own your development. Don’t leave it in the hands of your employer. If you’re a working woman, more tips and advice can be found at randstadusa.com. “Invest in a plan and know where you want to go. Take steps toward people who will help you on your journey,” says Kristin Kelley, chief marketing officer, Randstad North America. “Meet as many people of influence as you can and stay top of mind with them. Ask for help when you need it -- whether it be from managers, peers, sponsors or mentors -- and drive those personal connections.”


ENTERPRISE� t h e l i v i n g s t o n

�We’ll help you keep track of

financial trends.

In the pages of the daily Livingston Enterprise, you’ll find a Markets report that lists some of the major stocks, commodities and mutual funds. A quick glance will give you the latest trend for that particular item. Associated Press articles will keep you up to date on what politicians in Washington, D.C. are doing that may affect the economy. You’ll also find what plans the Federal Reserve Board has in store in the way of interest rates and other actions.


(StatePoint) Aspirations of home ownership is strong for America’s families, yet findings from the fifth annual America at Home survey from NeighborWorks America indicate several perceived barriers to home ownership among the majority of consumers. Findings from the survey, which consisted of 1,000 U.S. adults and 500 millennials include many misconceptions about what it takes to buy a home.

• The average millennial mis-takenly thinks the minimum required down payment is 21.6 percent.

• Approximately 73 percent of all consumers and 62 percent of millennials said they were not aware of or are unsure about down payment assis-tance programs in their com-munities for middle-income home buyers.

• Seventy percent of adults feel they don’t have enough money saved for a down pay-ment. Experts believe that confu-sion about down payment requirements and lack of

awareness about assistance programs are holding back many people from pursuing home ownership. “Before deciding if owning a home is right for you, take time to understand your down payment options, and separate myths from facts,” says Freddie Mac

Vice President, Danny Gardner. For example, the average down pay-ment among first-time home buyers in 2016 was just 6 percent and, for repeat buyers, just 14 percent. What’s more, mortgage options, such as Fred-die Mac’s Home Possible Mortgages,

make it possible for qualified borrow-ers to put down as little as 3 percent. If your down payment is less than 20 percent with a conventional loan, you’ll have to pay private mortgage insurance, an added insurance policy that protects the lender if you are un-

able to pay your mortgage. However, mortgage rates -- despite their rise in recent years -- remain at historic lows, providing you with a significant advantage. There are also millions of dollars available for down payment assistance. A great place to start is right where you live. Many state, county, and city govern-ments provide financial assistance for people in their communities who are well qualified and ready for home ownership. To help demystify down payments and the home buying process, free tools and resources are available at myhome.freddiemac.com. Don’t let misconceptions hold you back from pursu-ing home ownership. Check out the facts to learn how much home you can afford.

(Livingston) - Montana is experiencing a phenomenon known as a ‘silver tsunami.’ What does this mean? This means that Montanans are aging more rapidly than any other state in the union. As such, it is important for Montanans to take their financial well-being into consideration and quite seriously. This also means that more and more Montana residents are considered prime targets for financial scams and exploitation. What is a person to do? First and foremost, everyone must understand that elder fraud and exploitation can and does happen. Secondly, everyone should educate themselves as to the warning signs of scams. How so? The following are some questions to ask yourself if you ever find yourself in a situation that you think could be a fraudulent one.

1. Did I initiate this contact? 2. Does this interaction give you a

“funny “feeling? 3. is the person visiting with yougetting angry with you when youask more questions? 4. Are you required to enter a lottery,

sweepstakes, or purchase goods?In other words, are you required to “pay to play”? 5. Are you being pressured intoagreeing with something that you do

not fully understand? 6. Does this offer seem “too good to betrue”?

If your answer to anyone of the prior questions is “yes”, then chances are good that the individual you are talking to is attempting to separate you from your hard earned money and/or your assets. What steps can you take to avoid being a victim? If the conversation was begun via phone call, hang up the phone. However, if you do find yourself in a situation such as this, never give your personal identifying information. Contact someone you trust and report the incident to either law enforcement or adult protective services. If you would like more information about how to protect yourself and your loved ones contact Bank of the Rockies and ask about a Safe Banking for Seniors presentation.

Jennell Huff,Bank of the Rockies

Are common myths preventing you from buying a home?

Tips to help seniors avoid scams


(StatePoint) Ever wondered whether your insurance policy was actually working for you? You may be in luck, as your insurance plan may start to follow the same trends being adopted in other industries: simpler, more convenient and personalized products – all supported by the latest mobile technology. This year, Stephanie Shields, a product marketing and development expert says that policyholders can expect these “value-added services” to become less of a nice-to-have and more of a given:• Telemedicine: Consulting with a physician and getting treatment on-line offers greater flexibility and may become essential to busy people.• Fraud protection: Identity theft is likely top of mind for policyholders and businesses. Expect to see better fraud protection, including ongoing internet monitoring and full identity restoration after a data breach.• Bill negotiation: The ever-changing health care system is often confusing to navigate. Ongoing education, as well as help understanding medical bills, can ultimately mean greater ac-cess to efficient, affordable care.

Transformed Benefits Insurance providers will likely shift

the customer experience to follow that of retailers and other industries. In 2018, expect to see insurers offer more cohesive insurance policies that combine multiple benefit types into one plan.

Beyond the Basics You may find things that were once luxuries, such as 401K matching, Flexible Spending Accounts (FSA) and even annual bonuses, are not as suc-cessful in meeting the expectations of today’s employees. As those expecta-tions grow, successful businesses can continue to close the gap with such services as:

• Health advocacy: Access to round-the-clock personal health advocates who can answer health care and insurance-related questions.• Financial and legal fitness: Access to financial and legal advisors who can educate consumers on the preparation of wills and other legal documents.• College-advisory services: These might include resources to help lower college costs and navigate the admis-sions process.• No more “one-size-fits-all”: Commu-nications from benefits providers may be more tailored to individual needs.• Bite-sized communications: Concise information about workplace benefits,

tips for using benefits to help protect financial security and better explana-tions of coverage combinations that are appropriate at various life stages.• New format: While some benefits in-formation will still be delivered in the typical booklet format, more business-es may consider using online articles, digital signs, brown-bag luncheons and town halls.• Frequent communications: Employ-ers may communicate about benefits throughout the year, or time commu-nications to coincide with life events, such as employee anniversaries.

Penny-Pinching More voluntary benefits, such as ac-cident, critical illness/cancer, hospital indemnity, life and disability insur-ance, are on the horizon. According to a report by a major insurance company, 81 percent of employees see a growing need for voluntary insur-ance benefits, and 90 percent consider voluntary insurance at least some-what part of a comprehensive benefits program. Thanks to a tech-driven world and the growing demands of consumers, 2018 may see insurers expand their services to offer even more conve-nience and personalization.

New benefits and insurance options in 2018

Securing Your Financial Future...loan—of up to 2%. With three sav-ing levels, you can choose a...

Documents

Transcript of Securing Your Financial Future...loan—of up to 2%. With three sav-ing levels, you can choose a...