In 2011, Dean O'Malley walked away from a high-paying job with no plans for the future, other than to escape the world of finance.
MutualBank Secure Login
MutualBank Online Banking
Do you own a small business? Did you know that small business is one of the top targets for online fraud? According to Symantec's June 2012 Symantec Intelligence Report, 36 percent of all targeted attacks during the first half of 2012 were directed at businesses with 250 or fewer employees and they continue to increase at a minimum rate of 24 percent with an average of 151 targeted attacks being blocked each day during May and June.
As a business owner you must take steps to protect yourself against online fraud such as corporate account takeover. The American Bankers Association defines corporate account takeover:
What is Corporate Account Takeover?
Corporate account takeover is a type of fraud where thieves gain access to a business' finances to make unauthorized transactions, including transferring funds from the company, creating and adding new fake employees to payroll, and stealing sensitive customer information that may not be recoverable.
The American Bankers Association has created a resource for small business owners to access information about account takeover and steps to take to protect yourself and your business. Please go to the American Bankers Association website for more information regarding Corporate Account Takeover.
Remember, you can call us anytime. Let us know if you have questions or concerns for your bank accounts. Call 800-382-8031 or email us at firstname.lastname@example.org.
What names are on your checking account? This sounds like a pretty simple question, but you would be surprised how many people are unclear about it. If you are married, perhaps you do not have both you and your spouse on the same account. There are many reasons why this may be the case. Maybe you and your spouse have separate accounts. Perhaps when you opened the account, the other person wasn't present or maybe you have had major life changes. There can be many reasons why.
Think back to when you opened your account one, five, 15 or more years ago. Is everything the same as it was back then? Have you revisited your account set up to ensure your account reflects the stage of life you're in now? Let's discuss why it might be important to do a quick review of your accounts. It's something that may take you a few minutes, but can be very worthwhile.
Account titling can be something that we would be glad to help you with at your local MutualBank Financial Center. You should have an account review on at least a yearly basis to make sure your present life situation is reflected in your bank accounts. This is very important as banking becomes more dependent on electronic banking, such as mobile banking, online banking, etc. Also, as an estate planning tool, you need to be sure that your assets pass to who you want them to go to in the event of an unexpected tragedy. This is important whether you are 18 or 80!
Let us at MutualBank help you live a better life!
Itís only early September but the somewhat below normal temperatures makes it feel like autumn even though the official start is still a few weeks away. That cool crispness of the early morning brings back memories of heading off to school for another year. As I sit here thinking about the young men and women returning to a Ball State that is much different since my last class there I recall other changes.
In the mid-1980s well before most of todayís college students were born, I was a young stock broker working in a world most of them would find horrifying- no iPods, no cell phones, no texting(!), and almost no personal computers. We did have a computer or two around the office mostly for the accounting department. They werenít an essential tool for me as they are today.
Somewhere back in that time a certain trend in the investment markets began. As the 80ís boom got rolling and the economy grew, interest rates started falling. While there have been ups and downs along the way the overall trend has been down for decades.
I laugh a little now recalling a conversation with the head of the firm I worked for back then and agreeing with him that an 8% long-term municipal bond rate was what seemed to be acceptable to most of our clients who wanted tax-free income. Anyone looking for even half that rate of interest today is going to be very disappointed.
Declining interest rates are a problem for people who depend on their savings to generate income for them as many of our clients do. The situation has never been worse than the last few years as our government has tried to revive the economy with policies that push rates down even more. The benchmark 10-year Treasury note recently hit an all-time low under 1.5% and thatís reflected in all interest bearing investments.
People who invested in 5-year bank certificates of deposit as recently as 2007 received 5% interest but now face a 70% reduction in income as those CDs mature. The rates being offered do not even make up for the reduction in the buying power of the dollar caused by inflation.
Another trend that represents a possible solution to this problem is the tendency of stock dividends to rise over time. The dividends paid by the stocks in the S&P 500 stock market index have more than tripled since 1988 and have increased or stayed the same in all but 19 out of the 98 quarters since then.
But isnít there more risk to principal in stocks? Yes there is or at least there has been greater volatility. The S&P 500 has grown in value more than fivefold in the last 25 years but there have been and will be periods of decline. The last significant one was in 2008 and the index has recovered about 80% of that decline so far. Dividend income also fell in 2008 but surpassed its old high two years ago.
Of course not every stock in the S&P 500 is a dividend payer and not every one is an attractive investment. MutualWealth Management Group can select stocks appropriate for your needs and design a well-diversified, managed portfolio that may minimize volatility risk and maximize your income and growth potential. A total portfolio may also include some bonds which may further dampen volatility.