Being Smart with $$ - Local Banks' May Be Good for Distant College Students

Nice tip for Metrowest Boston families that will soon be sending a child to college out of the area. My friend at Needham Bank told me of their no-fee ATM accounts that allow students to use any bank ATM around the world and get reimbursed for the fees that bank may charge.  If your current bank doesn’t have multiple branches near the new school you could get hit with many ATM fees.  And the most convenient part of the Needham Bank account is that the parent can fund the account locally anytime more cash is needed (such as for that emergency kegger in the dorm. 21 and older please to tip that cup! And NO driving!)  Not in Metrowest Boston? Check your own small, local banks for a similar deal.

Larry Pike, CFA
www.clientpriority.com
Blog: clientpriority.blogspot.com

Being Smart with $$ - Wall Street Victims

Which is worse? To be invested in stocks and lose money as the market falls, or to not be invested in stocks and watch the market rise?  Neither are fun. Sitting out the market means your cash stash buys less every year because of inflation. And if you’re in the market and it falls, you just have less money. But unlike gambling in a casino, your money is likely to increase in stocks over the long term because most big companies earn profits every year that adds to their value and stock prices should eventually reflect all that new value created. So while you may be a Wall Street victim for being in the market on a bad day, in the long term you are more likely to be a victim for NOT being in the market.
Larry Pike, CFA
www.clientpriority.com
Blog: clientpriority.blogspot.com