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 mid years

1. Shop for the best mortgage and consumer loans

Whether for purchasing a home, refinancing your current loan or a home equity loan - a mortgage is a loan with terms and rates that vary.  It's important to compare all the costs involved in obtaining a mortgage including interest rates, points, fees, down payment and potential private mortgage insurance requirements.  Blackhawk Bank's Mortgage Planners are here to simplify things for you and walk you through every step of the process.

If you have equity in your home, a Home Equity Loan or Line of Credit may be used for just about anything you want or need - from remodeling your home to buying a car to paying for college. Stop in for details. 

With competitive rates, experienced lending professionals and local decision-making, you’ll be sure to find a loan at Blackhawk Bank that meets your needs. 

To get started with a mortgage or consumer loan now, click on the links below.  Then call or stop by and talk with one of our lenders to get trustworthy advice and become pre-approved for the right loan for your specific needs. 

 

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.  Your credit report also carries your credit score ranked between 300 and 850 that lenders use to decide whether you're credit worthy and will you 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. Developing Great Credit is a booklet that you can print to help you understand how the pieces add up that determine your Credit Score.

3. Choose a checking account, use NetTeller Online & Mobile Banking

Blackhawk Bank offers several checking accounts, among them Easy Money Checking, our most popular checking account with high interest earnings and refunded ATM fees. You can literally use any ATM, anywhere in the world and get refunds on any fees you may incur by meeting two easy requirements per qualification cycle. Learn more…

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 Person-to-Person  payments or Bank-to-Bank transfers and more. Paying bills is a responsibility that we can help you with by making it simple, fast and secure. Start paying bills online and stop buying stamps, looking for a mailbox, and hoping your payments arrive by the due date.

Mobile Banking
Download our App for iPhone, iPad, or Android. Mobile Banking allows you to bank anytime, anywhere and has full functionality.   You must be enrolled for a NetTeller Online Banking account. 

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 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.

 

4. Direct Deposit provides fast access to your funds

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 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. 

Financial Advisors at Blackhawk Investment Group 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.  Raymond James Privacy Notice Blackhawk Investment Group | 400 Broad Street, Beloit, WI 53511