Career-Focused 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’ll enjoy during retirement.  It’s important to note that people are living longer in retirement - you may need more money in the future than you think.  Blackhawk Bank can help you stay on track with your long term financial goals. 

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Financial guidance for maturing adults without children

1. Shop for the best mortgage and consumer loans

Seeking the best mortgage or consumer loan by shopping and comparing may save you thousands of dollars.  A mortgage—whether for a home purchase, refinancing or a home equity loan—is a loan product with terms and rates that vary.  You’ll want to compare all the costs involved in obtaining a mortgage including interest rates, points, fees and 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 competitive rates, experienced lending professionals and local decision-making, you’ll be sure to find a loan at Blackhawk Bank (link to Loans) that meets your needs. 

To apply for a mortgage or consumer loan now, click on the links below, or stop by and talk with one of our lenders.

2. Understand your Credit Report

Your financial behavior over the past seven years, including how much credit you have, how long you've had it and whether you pay your bills on time is information included in your credit report.  Three credit reporting agencies — Equifax, TransUnion and Experian — maintain these reports, and lenders buy them to help them decide whether to offer you a prequalification.  Your credit report also carries your credit score ranked between 300 and 850 that many lenders use to decide whether you are creditworthy and will you'll 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. Your credit score is available from the three credit reporting agencies: 

Equifax –  www.equifax.com
TransUnion – 
www.transunion.com
Experian –
www.experian.com 

Once per year, Blackhawk Bank will provide you with a FREE TransUnion Credit Report and Score, and counseling to help you fully understand it.  For Mortgage Loan Applications, banks must pull reports from all three credit bureaus, and a fee applies. Improving Your Credit is a booklet that you can print to help you understand how the pieces add up that determine your Credit Score.

3. Conserve time and paper with Blackhawk Bank’s convenient NetTeller Online Banking, Bill Pay and ATMs.

Reduce the time it takes to pay bills, save on the expense of printed checks and postage, and help the environment!  With a Blackhawk Bank checking account, you can have all the convenienes of electronic services.  

Sign Up for eStatements and Notices
Be part of the 'green' initiative! Your statement is delivered to your Inbox monthly. Ask for all your deposit accounts on one statement; print it when / if you'd like to.  eNotices are among our 'green' services too - sent to your Inbox instead of your Mailbox!

Online Banking & Free Bill-Pay
With Online Banking, you can sign up for account alerts, check balances, verify deposits / withdrawals, confirm cleared checks, transfer funds, make payments to Blackhawk loans and more. Paying bills is a responsibility that we can help you with by making it simple, fast and secure. Start paying your bills online and stop buying stamps, looking for a mailbox, and hoping your payments arrive by the due date.

Mobile Banking
'Take it Easy' Mobile Banking allows you to bank anytime, anywhere - 24/7/365!  Enroll by logging into your NetTeller account. Text and Web Mobile options are available.

24-Hour Bank-by-Phone
This convenient way to access your account information provides many of the same features and benefits of Online Banking – without the Internet. Call 608.364.4534 or Toll-free 888.769.2600 to hear your account information.  First-time users will enter the last four digits of their Social Security Number, and then change to a confidential PIN of your choice.

Easy Money Checking is a game-changing checking account with its HIGH interest earnings (more than most long-term CDs) and refunded ATM fees. You can literally use any ATM, anywhere in the world and get your fees refunded. There are just two easy requirements to meet each qualification cycle.  Learn more…

4. Improve your funds availability and save time with Blackhawk Bank’s fast, safe Direct Deposit.

With Direct Deposit, your funds are available and your money begins working for you right away. Plus, you’ll have added safety with no chance of your check being lost in the mail or stolen. Most companies offer payroll Direct Deposit, and all new Government checks are now direct-deposited.

5. Save for Retirement

Many people underestimate the amount of money they’ll need in retirement. Be realistic about major expenditures - for example, 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 come into play.  Now is a good time to increase contributions to your retirement savings accounts.  Take a look at this Retirement Planning Workbook for useful tips.  

Tax-advantaged Health Savings Accounts can help you now and in retirement. Learn more about how they work when coupled with a Qualified High Deductible Health Plan.

Blackhawk Investment Group’s Financial Advisors offer a large variety of investment products including stocks, bonds, and mutual funds that can help you meet your retirement goals.  The person that matters most in your retirement planning is you.  It’s never too early to start planning for that time in your life when you can kick back and relax! We're here to help.

 

TIPS FOR EFFECTIVE FINANCIAL MANAGEMENT

  • Understand what your credit report score means and take a pro-active
    role in monitoring it.
  • Resist the urge to cut back on savings to meet rising expenses or accommodate other goals.
  • Make sure your mortgage payment, including taxes and insurance, represents no more than 31 percent of your gross monthly income.
  • Spend less than you earn—it’s the simplest way to stay free from
    all-consuming debt.

Mortgage Calculator | Retirement Calculator

For help determining the best accounts and products for sound and productive money management during your Career-Focused Life-Stage, please call a Personal Banker or Financial Advisor at 800.209.2616, or stop by any office.

Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC are:

  • Not deposits
  • Not insured by the FDIC or any other governmental agency
  • Not guaranteed by Blackhawk Bank
  • Subject to risk, may lose value.
Blackhawk Bank and Blackhawk Investment Group are independent of Raymond James.  Raymond James Financial Advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered.  Therefore, a response to a request for information my be delayed.  Please note that not all of the investments and services mentioned are available in every state.  Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.