In Perspectives

2017 marks the 13th anniversary of the formation of Legacy Trust.  As we begin this year I wanted to offer that number in quick financial/life tips and ideas to hopefully provoke some thoughts and actions.

  1. Increase your 401k contribution percentage (even if that increase is by one percent, it can certainly add up over time).
  2. Increase your Health Savings Account contributions (dollars go in tax-free, giving you as they say “more bang for your buck” on future medical expenses).
  3. Increase/begin automatic contributions from your paycheck to a separate savings account (treat that savings as an expense that you pay each month).
  4. Follow a strict budget for one month (and track your feelings/changing perspectives around this enlightening process).
  5. Review the credit cards you use. Do your airline miles really add up to much in savings? How about those hotel points you are accumulating? I suggest also looking for a cash rewards card that automatically funds an investment account.
  6. Identify a source of frustration in your life. Turn it upside down and look at it as an opportunity to learn and change.
  7. Call your cable company and negotiate for a lower monthly rate (or even better, cancel the service all together and just use Netflix and/or Hulu).
  8. Budget for unexpected expenses and set aside funds from each paycheck to build an emergency fund.
  9. Review the beneficiaries of your life insurance and retirement accounts.
  10. Make certain you are on track for retirement (based on your current savings patterns and a reasonable rate of return). A regular check-up with a trusted advisor should be a must.
  11. Review your estate plan to see if it is still in line with your wishes and circumstances.
  12. Make a list of questions you would like to ask your financial advisor.
  13. Find a mentor (or mentor someone). Just like the tips listed above (many of which you have heard before), people need to be reminded more than they need to be instructed. Mentors help direct your focus on the answers you already know but have chosen to ignore or forget. Albeit intentional or unintentional.

Make 2017 a great year by committing to being as intentional and focused as you can. That’s our plan as we mark the New Year and our 13th anniversary.  Perhaps this will be your lucky year as well!

Legacy Trust and Your Right to Financial Privacy

At Legacy Trust we have established policies and practices that respect the financial privacy of all individuals who use our trust company. We believe it is critical to comply with the laws and regulations designed to secure your financial privacy. Your relationship with us as our client is very important to us, and we want you to understand our policies and practices about handling your information.

This Policy applies to you – This Policy applies to our relationships with individual clients who inquire about or obtain products or services from us for personal, family and household purposes.

Strict security measures – We take the security of information very seriously. We have established security standards and procedures to prevent access to client information. We maintain physical, electronic and procedural safeguards to guard client information.

Limited employee access – We have established procedures to limit employee access to information to only those employees with a business reason for accessing such information. We educate our employees about the importance of confidentiality and client privacy. We take appropriate disciplinary measures to enforce employee responsibilities regarding client information.

Why we collect information – We collect information about you to:

  • accurately identify you;
  • protect and administer your records, accounts and funds;
  • help us design or improve our products and services;
  • understand your financial needs;
  • save you time when you apply for new products and services; offer you quality products and services; and comply with certain laws and regulations;

We collect information – We collect and maintain your personal information so that we can provide investment management and other services to you. The types and categories of information that we collect and maintain about you include:

  • Information we receive from you to open an account or provide investment advice or other services to you (such as your home address, social security number, telephone, financial information and investment objectives).
  • Information that we generate to service your account or from our transactions with you (such as account statements and other financial information).
  • Information on your transactions with nonaffiliated third parties.

We have established procedures so that the financial information we collect is accurate, current and complete. We are committed to work with you to promptly correct any inaccurate information.

Our selective sharing of information – In order for us to provide investment management and other services to you, we do disclose your personal information in very limited instances, which include:

  • Disclosures to nonaffiliated companies as permitted by law, including those who help us service your account (such as providing account information to brokers and custodians).
  • Other limited disclosures as permitted by law, for example, required reports to government entities.

We do not share your information with third parties for marketing purposes. We do not sell your information.

Former clients – If you end your relationship with us, we will continue to adhere to the privacy policies and practices described in this notice.

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USA PATRIOT Act

Important Information About Procedures For Opening A New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

We apologize for any inconvenience this may cause; however, federal law prohibits us from waiving these requirements.

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