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ENB Insights

November 22, 2019

Asset Protection in Estate Planning

You're beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe from tax collectors, accident victims, health-care providers, credit card issuers, business creditors, and creditors of others.

November 22, 2019

Establishing a Budget

Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals.

November 19, 2019

3 Homebuyer Challenges a Construction Loan Can Solve

Existing home inventory is low. This is excellent news for sellers. National Association of Realtor data found existing single-family home prices increased by 4.3% during the second quarter of 2019. In this environment, listing homes at the higher end of the market is unlikely to deter eager buyers. Increased housing demand and low inventory can lead to homes selling quickly…

November 18, 2019

12 Ways to Protect Your Mobile Device

Your mobile device provides convenient access to your email, bank and social media accounts. Unfortunately, it can potentially provide the same convenient access for criminals. Ephrata National Bank recommends following these tips to keep your information – and your money – safe.

November 15, 2019

Teaching Good Savings Habits in Kids: The Missing Link

Marshmallows and savings habits might have a lot in common. A Stanford University study, led by Dr. Walter Mischel, highlighted the power of delayed gratification. The series of studies began in the early 1960s by examining the reactions of preschoolers when given a set of seemingly simple choices:

October 23, 2019

Vishing Scam Alert

ENB has become aware of a new vishing scam in which reports indicate some of our customers have been targeted.  Perpetrators of this scam call ENB customers posing as a "Security Officer from Ephrata National Bank".  The caller then asks the customer to confirm suspicious transactions on their accounts. Once the customer confirms the transactions are not valid, the fraudster…

October 22, 2019

Transferring Your Family Business

As a business owner, you're going to have to decide when will be the right time to step out of the family business and how you'll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the business or keep it until you die.

October 22, 2019

Social Security Survivor Benefits

When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives easier.

October 18, 2019

Tips to Thwart Ransomware Attacks

Individuals and businesses have become targets to a growing online fraud scheme known as ransomware. Ransomware is a form of malware used by cyber criminals to freeze your computer or mobile device, steal your data and demand a “ransom” —  typically anywhere from a couple of hundreds to thousands of dollars — be paid.

October 11, 2019

How Student Loans Affect Mortgage Eligibility

A college education is associated with increased earnings, fewer periods of unemployment, and greater job satisfaction.[1] However, paying for college without incurring debt remains a challenge. Tuition, fees, and living expenses often surpass the amount set aside in college savings plans or available through federal and state grant programs. For many students, scholarship opportunities are limited, leaving loans as the…

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[1] The Hamilton Project, Lifetime Earnings by Degree Type, https://www.hamiltonproject.org/charts/lifetime_earnings_by_degree_type

U.S. Bureau of Labor Statistics Employment Projections, https://www.bls.gov/emp/tables/unemployment-earnings-education.htm#

Pew Research Center, How Americans View Their Jobs, https://www.pewsocialtrends.org/2016/10/06/3-how-americans-view-their-jobs/

 

[2] National Association of Realtors®, Student Debt Delaying Millennial Homeownership by 7 Years

https://www.nar.realtor/newsroom/student-debt-delaying-millennial-homeownership-by-7-years