Managing Your Money
Saving for that rainy day? Retirement? College tuition for the kids? Your success in achieving whatever financial objectives and goals you have established depends in large part on how you manage your money. The best financial and estate plan in the world is worth nothing unless it is put into action; money management plays an important role in implementing your plans.
Money management in today’s world consumes a great deal of time and energy. There are a lot of surveys publicized by the media about Americans and money, and all of them come to the same conclusion: we’re worried about it! Credit cards, mortgages, loans—all types of debt are on the rise. How to pay for college, retirement, even day-to-day living…these are concerns for many people. Yet many don’t seem to do much about it. One recent survey reported that while more than half of all Americans are worried about retirement security, nearly one third saved absolutely nothing in the past twelve months toward retirement.
Covenant Trust Company® works with people and ministries who want to plan for and protect their financial future. We provide professional asset management services for individuals and Covenant ministries. Once your priorities are identified, your goals established and your plans in place, we offer several asset management tools:
Contact your local Financial Services Representative for more information. [view Directory]
Keeping good records is always important, but especially in the area of asset management. Cost basis is one area that can be confusing; yet it has significant tax implications. Understanding cost basis is vital in managing your assets. Other records and information are also necessary for taxes, legal issues, purchase and sale of assets, etc. Do you know what to keep and how long to keep it? A records retention schedule comes in handy, and can save a lot of time, effort and expense.