Estate planning is an important subject that almost everyone—but especially older people—needs to address. Many believe that estate planning is for those with substantial means. However, estate planning determines how an individual’s assets are preserved, distributed, and managed, so even people with assets limited to a residence, bank accounts, and a retirement plan need to form a plan.
Next to buying a home, a college education is the largest expenditure most parents will ever make. The key is advance planning. The more money you save now, the less money you or your child will need to borrow later. It is important to begin saving as early as possible so you can earn interest, dividends, and/or capital gains on as much money as possible.
Cybercriminals are targeting small businesses with increasingly sophisticated attacks. “Corporate account takeover” is a form of identity theft of a business. Criminals send phony emails pretending to be someone you know to trick you into clicking on links or attachments that can lead to malicious software being installed on your computer. Once this happens, they will ask you to enter credentials where they will gain access to your email account. At that point, they will send emails to the bank appearing to be from you to initiate ACH and wire transactions.
Back in the day, when your father or mother would give you a dollar, they might offer this cautionary advice: “Don’t spend it all at once,” or “don’t spend it all in one place.”
Well, that certainly can be applied to the stimulus payments the government has promised millions of Americans due to the harsh economic times created by the coronavirus pandemic. The Treasury Department and the Internal Revenue Service announced that the payments will begin in mid-April and will be distributed automatically, with no action required for most people.
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