The Herald Bulletin

Evening Update

Local Business

January 11, 2014

Keeping finances in shape for the new year

Officials say it is never too late to start planning for the future

ANDERSON — A new year can be a time of resolutions for improvement, and local experts say making sure that personal finances are healthy should be at the top of the list.

So how healthy are your finances?

“I think it all boils down to having a plan,” said Cody Hooker, a financial advisor for Edward Jones, 1125 Broadway Street. “It’s important to sit down with a trusted investment adviser in order to get a plan set up.”

Establishing an emergency fund is one of the first things Hooker said people should do when improving the health of their finances. He said without such a fund people are at risk of getting off track with their finances.

“There is no ideal amount when it comes to having an emergency fund, but in general you should have six to nine months of expenses in savings,” Hooker said. “It is something you will want to work towards.”

Steve Warner, branch manager of Stifel, Nicolaus & Company, Inc., 33 W. 10th St., said investing in one’s retirement is more important today than ever.

“The days of working for the same company for 30 years and receiving a pension for you and your family are in many cases not available,” he said. “If you consider that Social Security was never designed to be your sole income in retirement, it is imperative that you start to accumulate funds in a retirement account.”

Warner said he encourages everyone to visit the Social Security Administration website at to get an estimate of what to expect for a monthly income from the agency.

“The one item that most often gets unaccounted for is the impact of inflation and how it will impact the value of today’s dollar,” he said. “The lifestyle you have envisioned might not be achieved or the age you planned to retire might need to be delayed.”

Text Only
Local Business
  • NWS - HB0715 - Chuck Pagano Pagano breakfast sold out A breakfast with Indianapolis Colts head coach Chuck Pagano is sold out, organizers said Wednesday.

    July 23, 2014 1 Photo

  • Cellular Connection to host backpack giveaway Residents in Anderson will benefit from a national backpack giveaway campaign on Aug. 2.

    July 23, 2014

  • Travel restrictions on Interstate 69 this weekend During at least the next eight weekends, travel north of Anderson on Interstate 69 will be restricted as damaged concrete is repaired.

    July 22, 2014

  • Senior housing request continued A request for final plat approval for a senior housing development on property near Madison Park Church of God was continued Tuesday. The Anderson Plan Commission could not consider the request because of a lack of a quorum to conduct business.

    July 22, 2014

  • Street Department purchases 2 pickup trucks The Anderson Street Department received approval to buy two Dodge Ram pickup trucks on Tuesday.

    July 22, 2014

  • FEA - HB0722 - SAVI - 1 Staying strong during adversity

    When doctors told Judy Best she had cancer she was shocked, but she never lost hope.

    July 22, 2014 2 Photos

  • NWS - HB0721 - 4-H parade 3 - DH Scholarship recipients relish parade acknowledgement

    Taylor Jennings and Shelby Farmer took their last stroll around their hometown Sunday. At least, their last before starting college in the fall.

    July 20, 2014 5 Photos

  • Senior housing sought for Madison Park A senior housing development proposed almost six months ago for the Madison Park Church of God property is now moving forward.

    July 20, 2014

  • Wilkerson, Jesse mug Jesse Wilkerson: Unplug to reconnect I am inspired and influenced by people in our community who are creating a legacy of service. These people have disconnected long enough to realize there is more to their life than their job or personal success.

    July 20, 2014 1 Photo

  • BIZ-HB0720-Coldbeer-TM.jpg Brouhaha over cold beer

    Warm beer lines the shelves inside the Ricker’s BP on Eighth Street less than a foot from a refrigerated section, but the convenience store is not planning to move the beer anytime soon. That’s because a state law prohibits Ricker’s from selling cold beer to customers.

    July 19, 2014 1 Photo

Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide