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What is a funeral trust?

A funeral trust is an arrangement entered into with a provider of funeral or burial services. Prepaying funeral expenses may allow you to "lock in" costs for future funeral or burial services at an agreed-upon price. The funeral home sometimes serves as trustee (manager of trust assets), and you usually fund the trust with cash, bonds, or life insurance. A revocable funeral trust can be changed and revoked by you at any time. An irrevocable trust can't be changed or revoked, and you generally can't get your money out except to pay for funeral services.

Expect the Unexpected: What to Do If You Become Disabled

In a recent survey, 46% of retirees said they retired earlier than planned, and not necessarily because they chose to do so. In fact, many said they had to leave the workforce early because of health issues or a disability.¹

Although you may be healthy and financially stable now, an unexpected diagnosis or injury could significantly derail your life plans. Would you know what to do, financially speaking, if you suddenly became disabled? Now may be a good time to familiarize yourself with the following information, before an emergency arises.

Understand any employer-sponsored benefits you may have

Student Loan Debt: It Isn't Just for Millennials

It's no secret that today's college graduates face record amounts of debt. Approximately 68% of the graduating class of 2015 had student loan debt, with an average debt of $30,100 per borrower — a 4% increase from 2014 graduates.1

A student loan debt clock at finaid.org estimates current outstanding student loan debt — including both federal and private student loans — at over $1.4 trillion. But it's not just millennials who are racking up this debt. According to the Consumer Financial Protection Bureau (CFPB), although most student loan borrowers are young adults between the ages of 18 and 39, consumers age 60 and older are the fastest-growing segment of the student loan market.2

Rise of student debt among older Americans

BBB’s Secure Your ID Day coming soon; free paper shredding and identity theft prevention advice and

BBB’s Secure Your ID Day coming soon; free paper shredding and identity theft prevention advice and

Identity theft is still a major problem in the United States. Over 15 million U.S. consumers lost $16 billion in 2016, compared with $15.3 billion and 13.1 million victims a year earlier. In the past six years, ID thieves have stolen over $107 billion.

To help combat ID theft and educate the public on best practices to secure personal information, Better Business Bureau of Upstate New York, in partnership with Tops Friendly Markets, Shred-It, AT&T, Greater Baldwinsville Chamber of Commerce, Cheektowaga Chamber of Commerce, and West Seneca Chamber of Commerce will host Secure Your ID Day on Saturday, October 7, 2017 from 9:00 a.m. – noon across Upstate New York (Western New York, Rochester, and Central New York). 

The free community shredding events in Western New York will be held at Tops Friendly Markets at 355 Orchard Park Road, West Seneca and 3865 Union Road (corner of George Urban Blvd.), Cheektowaga in the parking lots.

Four Numbers You Need to Know Now

When it comes to your finances, you might easily overlook some of the numbers that really count. Here are four to pay attention to now that might really matter in the future.

1. Retirement plan contribution rate

What percentage of your salary are you contributing to a retirement plan? Making automatic contributions through an employer-sponsored plan such as a 401(k) or 403(b) plan is an easy way to save for retirement, but this out-of-sight, out-of-mind approach may result in a disparity between what you need to save and what you actually are saving for retirement. Checking your contribution rate and increasing it periodically can help you stay on track toward your retirement savings goal. .

What is an ERISA fiduciary?

The Employee Retirement Income Security Act (ERISA) was enacted in 1974 to protect employees who participate in retirement plans and certain other employee benefit plans. At the time, there were concerns that pension plan funds were being mismanaged, causing participants to lose benefits they had worked so hard to earn. ERISA protects the interests of plan participants and their beneficiaries by:

·         Requiring the disclosure of financial and other plan information

·         Establishing standards of conduct for plan fiduciaries

·         Providing for appropriate remedies, sanctions, and access to the federal courts

Buffalo Solar Solutions Expands With Opening of Southern Tier Office

Buffalo Solar Solutions Expands With Opening of Southern Tier Office

Buffalo Solar Solutions Inc., the successful solar energy startup that opened in South Buffalo in 2015, is expanding into the Southern Tier with the opening of a second location. The new office will be located at 13 West Main St. in Cuba, N.Y.

“Solar energy just makes good sense down there,” said Tyler Uebelhoer, who owns and operates Buffalo Solar Solutions along with his wife, Alicia. “We chose Cuba because we know we can help a lot of people. If you look at any electric bill from that area, you will notice that residents are being charged almost 30 percent more per kilowatt hour.”

Buffalo Solar Solutions specializes in rooftop and pole-mounted solar systems, and recently introduced solar pergolas to their growing product portfolio.