Virginia La Torre Jeker, J.D.’s Post

Bankruptcies are coming. This same situation happened in the 2007/2008 financial crisis. People tried to maintain their lifestyles with credit, until they couldn’t anymore. Then they filed BK. Buying opportunities will be abound for those with cash when it happens again—which seems likely to be relatively soon. #investing #credit #tax #internationaltax #tax #bankruptcy

🔍 High-Yield Savings Accounts: What's the Catch? 🌟 Ever noticed the asterisk next to those interest rates? Here's what you should know: 1. Minimum Balance: Fall below, and that nice high yield rate might as well be a dream. 2. Rate Variability: Today's earnings can be tomorrow's hope. Rates change. 3. Withdrawal Limits: Regulation D says 'hey' with limits on how often you can dip into your savings. Watch out for withdrawal fees. High-yield savings accounts makes many promises, but the highlights dims when you read the fine print. Still, they're a powerful tool if you play by the rules. 💡 Thinking of opening one? Here's a golden tip: Compare, understand the terms, and reflect on your banking habits. The best account is one that fits your financial lifestyle, not just your interest rate cravings. #FinancialWisdom #SavingsGoals #HighYieldSavings

🔷Have you heard the saying "Don't be penny wise and pound foolish"? This article covers a great example of this very thing. Based on a recent survey (Bankrate), 44% of Americans with credit cards don't pay it off every month....ie. meaning they are charged interest on their entire outstanding balance. AND....67% of those same people say in the survey that they are trying to maximize their rewards on these cards....ie. meaning they are spending more using the card so they gain more reward points/dollars. Track with me here: The average credit card interest rate is ~21%, while reward values range between 1-5%. 😲 This is NOT a good strategy. Good advertising makes it seem smart to max out rewards, but NOT if you are paying more interest than those rewards are worth. Does this make sense? Moral of the story....and one of my favorite sayings: 💥A Loser times Volume is a Bigger Loser!💥

One of the reasons that competition is so important in financial services is that policies put in place to improve the consumer situation can often have an opposite effect vs what is desired. This is in contrast to competition, which helps the industry rapidly improve pricing and offerings. A great example is that interest rate caps typically mean that providers narrow the customer profiles to which they make their products available. This pushes those consumers that can no longer get products into unregulated markets for debt and they typically end up taking a higher rate. Suddenly an individual on the margin finds themselves in a worse financial situation. https://lnkd.in/g2XRsUpS

1️⃣ These three reasons could likely be reduced to one: astonishing government spending. Eventually, like any business, insolvency can only be avoided for so long. #economy #economic #governmentspending #feeonly #advisor #investing #financialplanning #independentadvisor #porteravenue #fiduciary

Last week, U.S. Senator Mark Warner introduced the Discount Window Enhancement Act of 2024, aiming to modernize the Discount Window. I recently discussed the need for this modernization in an article for Law360 and Law360 UK. The proposed legislation directly addresses key points highlighted in my article. Check out the article here: (https://lnkd.in/eu6axCF8) and a summary of the legislation here: (https://lnkd.in/euUAkQBe). Your thoughts and experiences on the Discount Window are invaluable as I will be delving further into this critical topic in upcoming pieces. Please feel to comment and/or DM me. #RegulatoryCompliance #BankingRegulations #DiscountWindow #RiskManagement #FinancialRegulations #RegulationA #SenatorMarkWarner #FinanceLegislation

We just released the monthly VantageScore CreditGauge and it shows an increasing number of consumers falling behind on monthly credit payments. How will this impact holiday spending season? Get the latest insights here https://lnkd.in/gZjhvctv

Interesting findings from Chase Nearly 3 in 5 UK consumers (57%) are keeping most of their money in current accounts rather than savings accounts. The main concern? Access to their funds. This trend highlights a crucial gap in financial planning: 1. Missed growth opportunities 2. Potential erosion of value due to inflation 3. Overlooked tax-efficient options While easy access is important, it's vital to balance this with long-term financial growth and tax efficiency. This is where strategies involving EIS (Enterprise Investment Scheme) and VCTs (Venture Capital Trusts) can play a role: EIS Benefits: 1. 30% income tax relief 2. Tax-free growth 3. Loss relief if investments underperform VCT Advantages: 1. 30% income tax relief 2. Tax-free dividends 3. Tax-free capital gains Yes, these are longer-term investments, but they offer significant tax benefits that could boost overall wealth. Plus, they can be part of a diversified portfolio that includes more liquid assets. At Tax Hub, we specialise in creating balanced strategies that address immediate needs (like access to funds) while also focusing on long-term growth and tax efficiency. How are you balancing liquidity needs with long-term financial planning? Have you considered the role of tax-efficient investments like EIS or VCTs in your strategy?

Feeling lost in the sea of checking accounts? Liberty Savings Bank can help! Our new blog post breaks down the key factors to consider when comparing accounts, from avoiding sneaky fees to finding features that fit your lifestyle. Take control of your finances and find the perfect fit: https://hubs.la/Q02mq42x0

"I know I’ve got way too much in my checking/savings account"... I hear this statement too many times every day. It's time to make the most out of your savings and have it keep better pace with inflation instead of letting it rot in a big bank savings account, and that doesn't necessarily mean investing it. Check out this insightful WSJ article on how you can find better-yielding accounts for your savings. Don't let your hard-earned money sit idle; explore options that offer higher returns and maximize your financial growth. 🌱💸 🔗 https://lnkd.in/eh8ZBRnk #FinancialFreedom #SmartSavings #HigherYields #InvestWisely #MoneyMatters