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Career-Focused Adult

Financial guidance for maturing adults

Maximizing your paycheck in your 30s and 40s is a priority during this time when your income tends to rise.  You may have discretionary income for travel and hobbies, and the challenge is to find the right balance between spending and saving.  The financial decisions you make now will have the greatest impact on the lifestyle you will enjoy during retirement.  It is important to note that people are retiring earlier and living longer, and you may need more money in the future than you think. 

  1. Shop for the best mortgage and consumer loans:  Seeking the best mortgage or consumer loan by shopping, comparing and negotiating may save you thousands of dollars.  A mortgage, whether for a home purchase, a refinance or a home equity loan, is a product and terms may be negotiable.  You will want to compare all the costs involved in obtaining a mortgage including interest rates, points, fees, down payment and private mortgage insurance requirements.   Home equity loans and lines of credit can be helpful when extra cash is needed to reduce significant credit card debt; but be cautious about re-building credit card debt once it is paid. With an array of products, competitive rates and experienced lending professionals, PCB has a loan to fit your needs.  Apply online for a mortgage loan or a personal loan.. 

Mortgage Loans

Personal Loans

  1. Understand your credit report:  Your financial behavior over the past seven years, including how much credit you have, how long you have had it, and if you pay your bills on time is information included in your credit report.  Your credit report also contains your credit score ranked between 300 and 850.  Lenders use your credit report and/or credit score to help them decide whether you are creditworthy and will repay a loan.  Your credit score can also influence the interest rate you pay; in many cases, the higher your score, the lower your interest rate.  You can obtain your credit report from the three credit reporting agencies below: 
  1. Conserve time, money and paper with PCB's checking accounts which offer FREE Internet Banking, FREE Bill Pay and no-charge ATM services:  You will reduce the time it takes to pay your bills and save on the expense of printed paper checks and postage while helping the environment.

Totally FREE Checking - Looking for a checking account with no service charges and fast, convenient access to your money? This is the account for you.  Totally FREE Checking was created for people who want a basic checking account and the tools to make their life easy.

VIP FREE Interest Checking - Receive competitive interest with no minimum balance and the convenience of direct deposit or automatic payments.

Ultimate Checking - It is time you got rewarded - just for living your life.

  1. Save for Retirement:  Many people underestimate the amount of money they’ll need in retirement. Be realistic about major expenditures, e.g., will your mortgage be paid off by retirement?  If so, you may need less income than you do now.  Do you plan to buy a vacation home or travel extensively?  Will you have to pay for your own health insurance?  These and other financial considerations all come into play.  

    Now is a good time to up your contributions to your retirement savings accounts.  Talk with PCB to learn about the products we offer that can help you meet your retirement goals. 

IRA - This is a tax advantaged, FDIC insured individual retirement account.

Investment Services - Offered by our Financial Advisor, Verna Brand 

Tips for Effective Financial Management
  • Understand what your credit report score means and take a proactive role in monitoring it.
  • Resist the urge to cut back on savings to meet rising expenses and accomodate other goals.
  • Make sure your mortgage payment, including taxes and insurance, represents no more than 25 percent of your gross monthly income.
  • Spend less than you earn - it is the simplest way to stay free from consumer debt.

For help determining the best accounts and products for sound and productive money management during your Career Focused Adult lifestage, please contact us.