Category: Brandpoint Business & Finance

2019-10-08T07:01:00

To learn more about how much you should save for retirement and options for how to build a retirement plan that will provide lifelong income, explore the Retirement Advisor Tools at www.tiaa.org.

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Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

This material is for informational or educational purposes only and does not constitute investment advice under ERISA. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.

TIAA-CREF Individual & Institutional Services, LLC, FINRA Member, distributes securities products.

Annuities issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY.

© 2019 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017

2019-10-07T05:45:00

(BPT) –

2019-10-01T09:05:00

(BPT) – Fall is here, which means, like it or not, cold weather is just around the corner. While most of us would prefer not to think about turning on our heat just yet, this is actually the best time to check your heating to ensure everything is operating as it should.

Neglecting to winterize your home and letting small issues pile up can have big repercussions. Ahead of the winter season, HomeServe, a leading provider of service plans, repair and installation services for the home, wants to make sure you’re aware of three major things that may go wrong if you don’t winterize your house or neglect your heating system.

1. Your utility bills may skyrocket. Utility bills often jump up in the winter due to the increased hours of darkness and the cost to heat your home. But if your heater is on the fritz or your filters are clogged, you could be in for an even bigger surprise. Dirty filters cause your furnace to work harder, which leads to inefficiency and a shortened lifespan for your heating system. Replacing filters is often an easy task for homeowners. A yearly tune-up is an inexpensive way to help prevent a costly system breakdown in the coming months. Also, keep in mind that some warranties require annual tune-ups, so don’t let your warranty go invalid by skipping this year’s tune-up.

2. The threat of carbon monoxide is very real. Do you know how old your furnace is? Do you know how long it’s been since a professional checked it over? Carbon monoxide poses a health threat when the heating system flue, vent or chimney becomes blocked from debris or other material. During a heating system tune-up, a professional service technician can check to make sure all your vents are not blocked and are working properly. Drains and traps also need to be checked and combustion gases should be analyzed and compared to the specifications of your furnace or boiler to make sure everything is running safely. Installing a carbon monoxide detector in your home is another smart way to help with early detection.

3. Water pipes can burst. It’s not just your heating system that needs to be winterized. All too often it happens — we wake up to realize our pipes are frozen, or even worse, leaking. Before the cold sets in, make sure outside hoses are put away and water is turned off. Evaluate which pipes are at the greatest risk for freezing during cold weather. For example, if your water pipes come up from an un-insulated crawl space, or if they are in or close to an uninsulated outside wall or vent, they are more likely to freeze and burst in low temperatures. Inside pipes should be covered in insulation to keep pipes warmer longer. Pipe insulation is easy to apply and available at most hardware stores and home centers.

By having an annual tune-up in the fall, you can catch small issues now, instead of experiencing bigger problems in the dead of winter. A tune-up can also save energy, reduce heating costs and prevent a system breakdown in the coming months.

For more information on National Tune-Up Day, including a heating system check-list, visit nationaltuneupday.com.

2019-09-30T14:00:00

(BPT) – In addition to its typical cadence of taxpayer correspondence, the IRS has also begun sending roughly 10,000 letters to taxpayers with virtual currency transactions that may have been unreported or misreported, as well as another tranche starting in late September to taxpayers with estimated tax obligations. This is in addition to the 720,000 IRS letter audits, 2 million math-error notices, 3 million underreported income letters, and 13.2 million letters on delinquent accounts and liens and levies that the IRS sends annually. While the cryptocurrency and estimated tax notices may garner extra attention, H&R Block (NYSE: HRB) cautions taxpayers that the volume of IRS letters and notices show that the possibility of needing to interact with the IRS after the April tax filing deadline is much more common than taxpayers realize.

“Some of these notices are really just a courtesy, meant to help taxpayers understand their obligations and stay ahead of the curve. But that doesn’t relieve the taxpayer of the stress and anxiety that receiving an IRS letter can cause. It’s nerve-racking. Plus, some letters do require a response or some action from the taxpayer,” said Andy Phillips, director at The Tax Institute at H&R Block. “Fortunately, not only do we know how to resolve a broad range of tax problems from the simple to the complex, but we also understand what it feels like and can help navigate people through to a solution.”

An experienced H&R Block IRS specialist will help taxpayers file any missing returns, if necessary; prevent or minimize additional tax assessments; reduce or eliminate any tax, penalties, and/or interest owed; and obtain the best possible payment arrangements on any balance owed.

The client starts with a free diagnostic analysis to identify the tax issue, and a tax professional will explain the resolution process. The expert works to resolve the issue with the taxing authority, whether that is the IRS or a state department of revenue. The expert follows up with the client and explains the results and next steps to remain compliant. The client is charged a flat, upfront fee based on the complexity of their tax situation. This eliminates the surprise of hidden fees and price hikes as the issue is being addressed.

“H&R Block cuts through the confusion of receiving an IRS letter, with a free evaluation, and plan to fix it. We’ll put the plan into action until your problem is solved,” said Phillips.

In addition, clients can get help that fits their busy lifestyle. They can get started by visiting an office or calling, then simply uploading their letter and getting matched with a skilled tax professional who will give them a free quote. The client can choose the most convenient method to receive help: over the phone or in person.

To get started, call 1-855-536-6504 or make an appointment.

2019-09-30T07:01:00

(BPT) – Breaking up is hard to do, but there’s one relationship you may want to reconsider — the one with your savings account. According to an August 2019 survey from Marcus by Goldman Sachs, which polled 1,053 Americans who have savings accounts with both traditional and online banks, nearly half (49%) have had their savings account at a traditional bank for more than 18 years. Consumers tend to stay with what’s familiar to them even though there may be a better alternative.

To help set up for financial success, it’s important to first evaluate your current banking situation to make sure your financial institution has your best interest (literally) in mind. An option that may be better is an online savings account that offers a higher rate. For example, if you opened a Marcus Online Savings Account at its current rate, and had an initial deposit of $25,000, you could earn $500 in a single year, which is more than what you are likely to earn with a savings account at a traditional bank.

The survey also found that of those surveyed, 72% are satisfied with the interest rate on their savings account at an online bank compared to 34% who are satisfied with the rate at their traditional bank. So if you are looking for possible alternatives to your current savings account, an online bank could be a good place to start. If you are unsure of where to begin when evaluating your current bank or when looking to switch, consider the following:

1) What is the interest rate? Make sure you are not only saving your money but also growing it by exploring savings accounts with competitive interest rates. Online savings accounts often offer higher rates. To better understand how much interest you could earn, take advantage of tools such as this online savings calculator, which helps calculate how much you could earn with a Marcus Online Savings Account.

2) Are there any fees involved, or a minimum deposit required? Avoid savings accounts that require you to spend money to start saving money. Choose a savings account that is transparent and has no transfer or hidden fees. Also look for savings accounts that do not require a minimum deposit, so you can open an account on your own terms.

3) Do you trust the financial institution behind it? When it comes to your money, you want security that you can trust. Savings accounts from FDIC-insured institutions are protected by the FDIC, an independent agency of the federal government.

4) What does customer service look like? Knowing that the bank managing your money supports you and will get you the answers that you need is crucial. An online bank may not have branches, but it can still provide customer assistance through telephone support, chat or via email. Look for banks that have easily accessible customer service representatives and are leveraging technology to make your life easier. Taking a look at awards the customer service department has received from reputable sources can help give you a sense of what to expect.

By taking the time to explore your savings account options, you could make a difference in the interest and money you are accumulating each year, ultimately preparing yourself for a better financial future.

2019-09-25T08:01:00

(BPT) – Latina engineer Angeles Elena Van Ryzin helped build the Kia Telluride, a luxury SUV designed specifically for the U.S. market. There are not many women in STEM, and even fewer Latina women in STEM. That’s why Van Ryzin embodies Kia’s brand philosophy of “Give it Everything.”

Born in Zacatecas, México, Van Ryzin migrated to Pomona, California, at age 5 with her family and attributes her success to her parents’ sacrifices and support.

“I’m lucky that my parents didn’t conform to the mindset of ‘coches son para niños’ (cars are for boys). I have three brothers, and my parents always allowed me to play sports and get dirty like my brothers regardless of society’s rules of how girls should behave,” she said. Van Ryzin later obtained a degree in mechanical engineering from Cal Poly Pomona University.

For the last eight years, Van Ryzin has worked in the Powertrain department at the Kia-Hyundai Technical Center. Her latest work includes designing the drivability, transmission scheduling and torque calibration on the Telluride, helping achieve the driving ease and fuel efficiency of the vehicle.

“Telluride had its unique challenges and the stakes were high,” said Van Ryzin. “This is Kia’s flagship SUV, it was equipped with a new engine and I was pregnant.”

Even while five months pregnant, she traveled to Korea for planning and design meetings, worked long hours at the Technical Center and at eight months pregnant she was in Death Valley hovering over the hood of a Telluride conducting all the tests to ensure her work was perfect.

“Being a woman is not a limitation to do any job,” said Van Ryzin.

When asked why she wanted to work in the automotive industry, she gave a surprising answer. “I never considered myself a car enthusiast,” she said. “I was motivated by how mobility is essential in our everyday life. I knew that by working in the automotive industry, I would be helping people.

“One of my favorite things about working in this industry is I get to see the final product on the road and think of how proud I am of my parents for laying the foundation.”

Van Ryzin offered advice to young girls that are considering careers in STEM: “Be proud of your heritage, don’t be afraid to shine where you go and Give it Everything! It may be a tough road but take every challenge as a step stone to your goals. Use any negative comments as fuel to propel you where you want to go.”

2019-09-19T11:55:00

(BPT) – The IRS projected that more people than ever before — 14.6 million — would file an extension. That estimate may have been conservative, given how tax reform influenced people to delay filing as they figured out what tax reform meant for them.

Now, those who still haven’t filed are running out of time, because the tax filing extension deadline is Oct. 15, 2019. Once Oct. 16 rolls around, those who still haven’t filed and owe the IRS will face a 5 percent monthly failure-to-file penalty on unpaid tax. The penalty adds up each month until the taxpayer files, up to a maximum of 25 percent. For those who did not file for an extension before the April deadline, the 5 percent monthly penalty kicked in immediately after the deadline.

The good news is people due a refund don’t pay a late filing penalty. In fact, most taxpayers (53 percent) filing after the April deadline get a refund. But the longer they wait to file, the later and later they will get their refunds, which average more than $4,000.

If that’s not reason enough to file, taxpayers who filed an extension have indicated to the IRS they need to file a return, essentially putting themselves on the IRS’ radar. These taxpayers will be easy targets for an IRS notice if they don’t file by the October tax deadline.

Taxpayers who still haven’t finished their taxes are more likely to be looking for help: 85 percent of them get professional help from a tax preparer, compared to 58 percent of taxpayers who file during tax season. They may be afraid of owing the IRS, uncertain about the tax outcome, missing documents, or just procrastinating. Whatever the reason, anyone who wants help filing a tax return to meet the October tax deadline can make an appointment with an H&R Block tax professional by calling 800-HRBLOCK or finding a local, year-round H&R Block office online. Online tax filing and DIY tax software are available 24/7.

2019-09-19T09:01:00

(BPT) – For many people, a monthly mortgage payment may be manageable, but their biggest obstacle is the upfront expense — namely down payment and closing costs — of buying a home. In fact, according to the Bank of America Spring 2019 Homebuyer Insights Report, 69% of prospective homeowners say saving enough money for a down payment and closing costs is the biggest challenge they face.

Unfortunately, many assume the hurdle of upfront costs can’t be overcome, and they self-select themselves out of taking the next steps towards owning a home. However, there is good news: through smart planning and research, you may uncover new ways to turn your dream into a reality.

While everyone’s situation is unique, here are four helpful tips to get you ready to buy a home of your own.

It’s never too late to start saving: Take control of your finances by creating a budget to track your spending and discover areas where you can cut back and boost your savings. Even if it’s only $50 every month, every little bit gets you one step closer to your dream.

Understand what you can afford: It’s always important to get a sense of what your budget can handle — comfortably — every month, before you start looking. Put together a detailed budget so you can get a full picture of your finances and understand how much you can afford each month for a mortgage. A mortgage calculator lets you estimate housing costs given your income, debt, savings and other financial obligations. Don’t forget taxes and insurance.

Talk to an expert and get prequalified: Understanding your budget is just one piece of the financial puzzle when it comes to homebuying. To learn about the loan options that make sense for you, meet with a lending expert who can provide more information on current interest rates and how much you can borrow. Once you find a loan that fits your needs, get a prequalification letter, which estimates your borrowing power based on your financial information and shows sellers you are serious and gives you some negotiating leverage.

Take advantage of available help: To help afford your dream home (and all the associated costs), keep your eyes open for available grants and programs designed to help prospective homeowners like you. Through its Community Homeownership Commitment, Bank of America is providing up to $17,500 to eligible buyers in select markets to help with upfront costs. Specifically, to assist with down payments, Bank of America will give eligible homebuyers 3% of the home purchase price (up to $10,000) when they use a specific low down payment loan product. Homebuyers may also qualify to receive up to $7,500 for non-recurring closing costs or to buy down their interest rate.

To get on the right track to affordable and sustainable homeownership, keep these tips and programs in mind and talk to a Bank of America lending specialist to learn what programs and offerings you may qualify for. Visit bankofamerica.com/firsthome or text “mortgage” to 226526 to learn more.

2019-09-15T07:01:00

(BPT) – The new school year is officially here, and although it’s an exciting fresh start for students and parents alike, it may also cause you financial stress. In fact, according to the National Retail Federation, the back-to-school season is the second largest shopping season of the year, after the holiday season. And for good reason — on top of the usual need for clothing and shoes that growing kids require at the start of every school year, parents and caregivers must also cope with lengthy school supply lists.

Fortunately, a one-stop online retailer like Amazon lets you conveniently shop for your child’s school needs without breaking the bank as it offers a wide selection of classroom supplies, clothing and other essentials at low prices. To save even more this school year, you can also sign up for a Prime membership, giving you exclusive deals and benefits on everything from shopping for last-minute must-haves, to streaming your favorite shows on the weekends.

Here are a few tips to ensure you and your children have a happy school year, filled with success and savings:

1. Sign up for Amazon’s discounted Prime membership. If you or your child are an EBT or Medicaid recipient, you could qualify for an Amazon Prime membership for the discounted price of just $5.99 per month. Members receive all standard Prime benefits, including exclusive deals, access to thousands of movies, TV shows, and music, plus over a thousand top Kindle e-books for adults and kids — to read on any device, as well free one-day delivery (or even faster) and much more. You can learn more, apply for the discount and try a 30-day free trial at amazon.com/qualify.

2. Shop later to score deals. Don’t fret if you have yet to do your back-to-school shopping — it’s actually beneficial to wait until after your child’s first week of school before you shop, as that’s when you can take advantage of more deals and savings. You can track the best deals on Amazon with Lightning Deals, with daily offers to help you save money. Lightning Deals allow you to find the best prices on items you need, want and love. You can also sign up for ‘watch a deal’ alerts, so you’ll never miss out on a discount!

3. Shop with cash. Making purchases with cash is a savvy way to stick to your budget, as it makes you more conscious of what you’re spending. If you find that this works well for you, you can use Amazon Cash instead of your debit or credit card when shopping online. Simply visit one of the more than 45,000 participating stores — including pharmacies like CVS, and convenience stores like 7-Eleven — to add cash to your Amazon balance.

4. Take advantage of discounts on frequent orders. From germ-fighting hand sanitizer and disinfecting wipes, to personal care items like toothpaste, hand soap, shampoo and more, there are countless everyday essentials you’ll need throughout the school year. With Amazon’s Subscribe & Save, you can subscribe to the items you frequently buy and have them shipped to you on a regular basis. You’ll not only save up to 15% on these purchases, but also save time and energy going back and forth to the store. Plus, Prime members can unlock up to 20% on purchases to save even more.

5. Be a bargain shopper. Everyone loves a deal, and now some incredible bargains are just one click away. Check out Amazon’s Bargain Finds for a wide selection of seasonally relevant products that are priced even lower. Items vary from school essentials like backpacks, lunch bags, water bottles and electronics, to clothing, household products and fun gifts — perfect for teachers. Before paying full price for an item, browse through these bargains to see if you can find what you need for a lower price.

With a little planning and preparation — and Amazon on your side — your family and your budget will both be set up for a successful school year.

2019-09-11T08:01:00

(BPT) – Did you know tires could be green?

There aren’t literal green tires, of course — they would distract other drivers. But believe it or not, tires can help keep the planet a bit greener, when they’re built and used with sustainability in mind.

Here’s how.

Low rolling resistance saves energy and lowers emissions

According to the U.S. Department of Energy, between 4 and 11% of a car’s fuel is used up providing the energy required to propel your tires along the road. It’s known as rolling resistance. Premium tires that are properly inflated require less energy to operate — less rolling resistance — which makes cars more fuel-efficient.

Lower rolling resistance also helps lower carbon dioxide emissions. For example, since 2013 Nokian Tyres reduced the rolling resistance of its products by an average of 8% compared to 2013, resulting in a reduction of 128 million kg of CO2.

Keep your tires inflated at the right level

Several companies make tires that minimize rolling resistance, but you can play a role in that, too. The key: keeping your tires inflated at their proper level. Underinflated tires generate more friction and are less fuel-efficient. They’re also more prone to blowouts and wear down more quickly.

So, if you’re serious about going green, make sure you’ve filled your tires to the recommended inflation pressure. You can usually find that on a sticker inside your driver’s-side door or in your car’s owner manual. Keep in mind that as temperatures drop this fall and winter, so will your tire pressure: The colder it gets, the more your tires will deflate. As the thermometer drops, be sure to check your tires’ inflation level more often than usual.

Greener tires through better materials and processes

You can impact how full your tires are, but there’s plenty that happens before those tires are on your car. Eighty-five percent of a tire’s carbon footprint is generated during its use, but the other 15% comes from the way tires are sourced and manufactured. If going green is important to you, be sure to do some research about those processes before you buy your next set of tires.

Nokian Tyres was the first tire company to eliminate the use of harmful oils in its tire compounds. It only uses purified oils in tire production — no toxic or carcinogenic chemicals. The Scandinavian company is also achieving new levels of sustainability in its production process. From 2013 to 2018, it decreased CO2 emissions from its production process by 38%.

Consider some of these ways tires impact the planet as you pick tires that are right for you and good for the environment. For more information about how you can promote sustainability when you buy your next set of tires, visit NokianTires.com.