Category: Company Story

Rebecca Eddy honored with AADMM Board Legacy Award

We are pleased to share with our clients, associates, and friends that Rebecca Eddy, Founding Partner of Eddy & Schein Group, has been selected by the American Association of Daily Money Managers (AADMM) as the recipient of their 2021 AADMM Board Legacy Award. “Throughout her career,” said AADMM Board of Directors President, Alison Salisbury, “Rebecca…
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Is the Cost of Your Medical Procedure Covered?

Medical expenses are notorious for blowing the family budget, but with some homework before a planned medical procedure, you might be able to limit the out-of-pocket cost. An Eddy & Schein Client Story Regina was given a referral by her gynecologist for a mammogram and an ultrasound. When Regina made an appointment with the radiologist,…
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Do You Need to Keep Investment Statements?

As an investor, you’re receiving monthly investment account statements, as well as annual statements and tax documents. Whether they arrive on paper or digitally, they can overwhelm both you and your mailboxes, and we are often asked “Do I need to keep these things?” We do advise that you hang on to some investment documents.…
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Safe Deposit Boxes – A World of Their Own

Did you know that your Power of Attorney (POA) document does not automatically give your agent(s) access to your safe deposit box? Safe Deposit Box Access Dilemma Marina has designated her son and daughter-in-law as agents under her POA, which her bank has confirmed. Marina, who has physical limitations, would like her son or daughter-in-law…
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Do you know where all your assets are?

Have you checked your state’s unclaimed funds website recently? You never know which of your assets may have slipped through the cracks and been “escheated” to the state. What is escheatment? If an account is dormant (has no activity) for a specified period or abandoned (if the rightful owner cannot be located), the account’s funds…
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How the Cost of Medicare Impacts Social Security Payments

Have you seen monthly Social Security payments go down from one year to the next? It may be because the cost of Medicare insurance coverage (i.e., premiums) has gone up. Eddy & Schein Group has clients with relatively high incomes who are required to pay more than the standard premium for Medicare Part B (Medical…
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Representative Payees for Social Security

Did you know that the Social Security Administration (SSA) does not recognize a person’s Power of Attorney document? If a recipient of Social Security needs someone to represent them with the SSA, a Representative Payee needs to be appointed by the SSA. Who can be a Representative Payee? A family member, friend, legal guardian, lawyer,…
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How Many Bank Accounts Are Too Many?

It’s not just the number of accounts… it’s the titles. Regardless of your stage of financial life, building financial literacy creates a better understanding of your existing assets and may make you a smarter banking customer. Knowing how to properly assign title for your bank accounts now can make a huge difference down the road.…
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Eddy & Schein Group millennial investing in stock market using ipad.

Investing in the Stock Market

For many new investors, stocks are like the Tango – highly seductive, exciting to watch, but intimidating to actually try and do without a trusted partner to teach you the basic steps. Studies indicate that Millennials are doing less investing in the stock market than previous generations. The reality is that, despite the risks, stocks…
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Growing seedling on stacks of coins to represent the stages of financial life

Typical Stages of a Financial Life

In a world of few truisms, there is one that’s very consistent: the steady path to building wealth requires that you start saving from a young age. Developing financial literacy early fosters good financial habits around saving, spending, and other aspects of personal finance management that will likely promote financial stability across your entire life.…
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Woman confused when reading financial and tax documents

Understanding Investment and Tax Documents

Understanding the financial concepts orbiting your life will help you make better decisions about money now… and in the future. Financial literacy is key. Tax Documents Your mailbox or inbox may be filled these days with “Important Tax Documents.” If you have a brokerage account, you are likely receiving those Annual Statements as well. As…
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