September 2022 E-Newsletter

SEPTEMBER 2022 E-NEWSLETTER

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September Featured News

Protect Yourself From Financial Scams

No matter your age, it’s good to know how to protect your financial accounts. Here are a few proactive habits that can help safeguard your finances.

Simple vs. Compound Interest

Read more about understanding the differences between simple and compound interest.

Employee Retirement Plan Selection

Offering an employer-sponsored retirement plan is one of the most effective ways to help workers save for retirement. And most provide tax advantages for both employers and employees.

What is Intellectual Property

Often referred to as IP, intellectual property represents the ownership and rights to creative work.

September 2022 Q & A

Q: How do I freeze my credit?

A: A credit freeze protects you by blocking access to your credit reports.

You'll need to contact each credit bureau separately: Equifax, Transunion, and Experian. You can call their toll-free numbers or visit their websites.

Although each bureau has different requirements, you'll generally need to provide your name, date of birth, Social Security number, and address.

And if you complete your freeze on the phone, be prepared to answer some authentication questions based on information from your credit report to verify your identity.

SHORT BITS

Filling Out FASFA

If your child is attending college in the fall of 2023, it's time to complete the FAFSA – Free Application for Federal Student Aid. The form becomes available October 1st and is due by the following June 30th. There's no application fee, and you can access the application at studentaid.gov.

Aid is awarded on a first-come, first-served basis, so completing the form early is essential. The amount of aid awarded is based on your family's expected contribution (EFC).

The EFC amount is calculated using the financial information you provide in the FAFSA. You'll include information about you and your child's tax returns, investments, businesses, and untaxed sources of income, like child support and alimony.

You'll also need to have everyone's driver's license information and Social Security numbers handy.

Did You Know?

In 2020, the average household earned $84,352 and spent $70,258. The most significant expenditures were housing, transportation, and food.

Office Information

Fax: 516-938-0491

Address: 415 Crossways Park Dr. Ste. C., Woodbury, NY 11797

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