October 2022

Thursday, October 27, 2022 - 11:15

Do you feel like your investment agent is out of sight these days? Are you unclear as to how your retirement portfolio is or isn’t performing? How much time is your advisor helping you understand what is happening in today’s market?

Are you looking to change your investment advisor or seek additional services such as an education savings 529 Plan? Don’t get lost in a maze. If you have questions or are simply interested in what else is “out there,” please give us a call.

Bath State Bank is partnered with investment advisor’s HeritagePoint Financial Group. The Group offers a wide variety of financial products and services to provide economic strategies for its clients, who include individuals, families and business owners -- including 529 Education Savings Plans. Our partners offer strategies for retirement and potential care costs, too.

For more info, visit the “Investment Services” tab (above) or contact our investment advisors Wes Koch at 765-212-4243 or Isaac Shepherd at 937-336-5065. Although their offices are located in Eaton and Winchester, they can meet you at the Bank or at a location of your choice.

If you’ve socked away a lot of money into your retirement, please don’t let your advisor be silent about market trends within your portfolio. If you haven't started a retirement fund, we are here to help you.

Services regarding HeritagePoint Financial Group: Not a deposit. Not FDIC-insured. Not guaranteed by the Bank or any affiliate of the Bank. May go down in value.

Wednesday, October 26, 2022 - 15:44

An Individual Retirement Account (IRA) is a type of savings account that is designed to help you save for retirement and offers many tax advantages. You need to have $50 of earned income to open an account.

You can start an IRA account at any age. Depending on your income, filing status, and whether you're covered by a retirement plan at work — contributions to a traditional IRA account may or may not be tax-deductible.

There are two different types of IRAs: Traditional and Roth IRAs. Each has slightly different rules and benefits. Call us and we will explain the difference to you or visit our IRA Services tab.

Both types can be opened through Bath State Bank. It requires no more than a few minutes’ visit to start your nest egg. For 2022 IRA contributions (until April tax date 2023): You can open an IRA at Bath State Bank for $50. The contribution limit for someone who qualifies with earned income is $6,000 under age 50. Over age 50 is a limit of $7,000 with earned income.

Tuesday, October 11, 2022 - 10:59

Your online accounts, computer and phone may hold a lot of your personal, financial and health information. Information that’s valuable to you — and to scammers who try to steal it. Here are five things to do to keep hackers out of your accounts and your personal business.

1. Lock down your online accounts

  • Your password is the key to all the personal information in your account. Make it long. Avoid common words, and don’t re-use it.
  • If it’s available on your accounts, turn on multi-factor authentication for an extra layer of security.

2. Secure your home Wi-Fi network. Your wireless network is the hub that connects your devices. To protect it from hackers:

  • Encrypt it
  • Change your default passwords
  • Keep it up to date

3. Protect your computer and phone

  • Once your home Wi-Fi network is secure, focus on protecting your devices.
  • If you use a computer to go online, make sure your security software, operating system and Internet browser are up to date. Turn on automatic updates to keep up with the latest protections.
  • Keep your phone up to date, too.

4. Recognize attempts to steal your personal information

  • Scammers try to trick you into giving them your personal information. They’ll pretend they’re with an organization you know well — like Apple or Amazon — and make up a reason they need some info from you. They’ve also impersonated FedEx, the Postal Service, the Social Security Administration and the FTC.

5. Back things up

  • Back up important information you have on your computer and phone. That way, if something does happen, you can recover your information.