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First Southern National Bank has partnered with Banzai to bring you clear, in-depth lessons to help you dive into the financial topics you care most about.

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Trusts

2020-08-10T18:03:54+00:00August 6th, 2020|

Setting up a trust is a way to ensure that your assets are handled the way you want them to be after you pass away. Trusts A trust, similar to a will, is a way to designate what happens to a person’s belongings after they pass away. How a Trust Works When

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Early Withdrawals From Retirement Savings

2020-08-05T20:38:04+00:00August 5th, 2020|

Whether you find yourself laid off from work, facing a medical emergency, or confronted with a situation that you’re financially unprepared for, it may be tempting to withdraw from retirement savings—but there are penalties and consequences you need to consider before doing so. Early Withdrawal Penalties There are serious consequences to accessing your

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Meet Your 401(k)

2020-08-10T18:03:51+00:00July 1st, 2020|

If you’re lucky enough to be introduced to a 401(k), you’ll make a friend for life. Even if you’re just starting your first real job—actually, especially if you’re just starting your first real job—it’s time to start thinking about retiring. That’s not a comment on how motivated or unmotivated you are, or a

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Social Security Basics

2020-07-01T19:50:16+00:00July 1st, 2020|

Since its introduction in 1935, in the wake of the Great Depression, Social Security has evolved from a safety net designed to relieve poverty to the mainstay of a secure retirement. But the role it will play for future generations is less certain. Fewer workers will be putting money into the system in the 21st century while more

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Disability Insurance

2020-07-01T19:09:30+00:00July 1st, 2020|

Even if you feel your job is secure and you're in perfect health now, it's smart to plan for the unexpected; acquired disabilities may be more common than you think. According to the Social Security Administration, there is a three in ten chance of a 20-year-old worker becoming disabled before he or she hits

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Portfolio Building

2020-08-10T18:12:11+00:00July 1st, 2020|

As logical as it might seem to look for the perfect stock, bond, or mutual fund and make it your investment of choice, that’s not the best approach to meeting your financial goals. No single investment, or type of investments, provides a strong return year in and year out. The saving grace is

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Individual Retirement Accounts

2020-06-30T20:34:47+00:00June 30th, 2020|

Individual retirement accounts (IRAs) are tax-deferred, personal retirement plans. You must have earned income to contribute, and you can put money into an IRA whether or not you participate in an employer’s retirement plan. There are two types: the traditional IRAs, to which contributions may be deductible or nondeductible, and the Roth IRA.

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Coach: Am I Ready to Retire?

2020-06-30T19:22:55+00:00March 31st, 2020|

Coach: Am I Ready to Retire? HOW IT WORKS Every individual has a different goal for retirement. This Coach guides you through setting a personal retirement goal and predicts your total retirement savings. It then helps you evaluate whether you're on track to meet your goal. To begin the Coach, select "Get Started." Disclaimer

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Critical Retirement Choices

2020-08-10T18:12:08+00:00March 26th, 2020|

You’ll have the answers you need down the road if you ask the right questions now. The idea of retiring isn't new. People who grew too old or too ill stopped working and stayed home long before pensions and Social Security. But as people live longer, the retirement experience takes on a different

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Coach: Retirement Funds

2020-06-30T19:28:56+00:00March 16th, 2020|

Coach: Retirement Funds HOW IT WORKS When you invest in a retirement account, your money will grow until you're ready to retire. But how do you know whether to use a Traditional or Roth retirement account? The Coach session will walk you through both types of accounts and show how your personal retirement savings will be affected

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Retirement Calculator

2020-06-30T19:32:58+00:00March 12th, 2020|

Retirement Calculator HOW IT WORKS It's critical to begin saving for retirement as early as possible; that's because it can take time for your funds to grow. This calculator will allow you to see how much you need to save now in order to enjoy your current standard of living when you retire. Start by entering

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Transitioning to Retirement

2020-06-30T19:36:43+00:00January 15th, 2019|

If you’ll have a pension or you’ve participated in a retirement savings plan where you work, and income from that source is a mainstay of your budget, the ideal solution is having your first retirement payment arrive the month after you receive your last paycheck. That requires making arrangements in advance. On the other hand, you may not

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