LifeArc Archives

Managing Charitable Donations

In our years of working with clients, we have observed different reasons for and ways of making donations. What are yours? Are you responding to the emotional pull of a TV ad, phone call, or mailed solicitation? Are you giving throughout the year or only at year-end? Are you purposefully thinking about the organizations to…

Eddy & Schein Group|
December 23, 2021|

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…

Eddy & Schein Group|
December 23, 2021|

Is that really you on your ID?

Have you ever changed your name? Is your name consistent across your identification documents (IDs)? If not, proving who you are in official situations could be a challenge. Ever since the creation of the Department of Homeland Security in 2002, scrutiny of all forms of ID by government agencies and financial institutions, all of which…

Eddy & Schein Group|
July 26, 2021|

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,…

Eddy & Schein Group|
July 22, 2021|

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.…

Eddy & Schein Group|
July 7, 2021|

Want or need? What’s on your bill?

Do you keep close track of your small recurring monthly charges? You likely know how much you spend on big monthly expenses (e.g., housing, insurance, utilities). But do you have any idea of the total expense of the digital services and entertainment options we have all grown to love? The draw is so compelling and,…

Eddy & Schein Group|
June 12, 2021|

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…

Eddy & Schein Group|
May 26, 2021|

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…

Eddy & Schein Group|
May 25, 2021|

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…

Eddy & Schein Group|
April 25, 2021|

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,…

Eddy & Schein Group|
April 20, 2021|

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.…

Eddy & Schein Group|
March 31, 2021|

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…

Eddy & Schein Group|
February 28, 2021|

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.…

Eddy & Schein Group|
February 24, 2021|

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…

Eddy & Schein Group|
January 30, 2021|

Category: LifeArc