Welcome to our blog, where we regularly post helpful tips and information to help you make the most of your money, through all stages of life. Here you’ll find the latest on banking and investing; mortgages, loans and lines of credit; retirement planning and trust management; and more.
Plus, we’ll share ways that The First National Bank of Mount Dora is supporting our local community.
Every Silver Lining Has A Cloud
For those who are taking Required Minimum Distributions (RMDs) from their accounts, there are tax considerations to keep in mind. As one ages, RMDs get larger as a percentage of the account, because one’s life expectancy gets shorter. Couple that with a boost in the account value, and the RMD could be much larger than expected in 2024.
Should You Consider CDs?
When managing your finances and planning for the future, you have several investment options to consider. One often-overlooked but highly valuable tool in your financial arsenal is the Certificate of Deposit, or CD.
Can You Spot A Phishing Scam?
Online scams aren’t so scary when you know what to look for. And at The First National Bank of Mount Dora, we’re committed to helping you spot them as an extra layer of protection for your account.
How to Protect Yourself from “Check Washing” Fraud
The recent launch of ChatGPT and advances in AI (Artificial Intelligence) technology means a whole new world of opportunities for all of us … including scammers. Learn how you can protect yourself!
Meet John Kociolek
John Kociolek, the latest addition to the Trust & Investments team at FNBMD, knows many attorneys in the area from his career as a trust administrator. John also knows about FNBMD’s strong reputation in Lake County. So when an attorney friend alerted him to an opportunity with FNBMD, he was very interested.
Why Bank Local?
Like your favorite local boutique or restaurant, local banks offer trusted, reliable service, along with the ability to develop relationships with the people who serve you day in and day out. Here are five great reasons to bank local.
Buying or Refinancing a Home: Ask Our Experts
Laura Tolbert (NMLS #1200280), our loan officer at The First National Bank of Mount Dora. Interest rates are still very attractive, even in the COVID-19 environment, so if you need to purchase a home, or if you’re wondering whether to refinance, here are some things to keep in mind.
5 Ways to Bank While Social Distancing
The COVID-19 pandemic has brought about the new term “social distancing,” designed to reduce the spread of the virus.
But life - and banking - still need to happen.
Here are five ways to get your banking done with The First National Bank of Mount Dora (FNBMD) while following the six-foot social distancing guidelines.
5 Reasons To Love Your Bank
Poor customer service, lack of convenient options, and cookie-cutter solutions leave some people dissatisfied with their bank. We understand. And we also believe that everyone should love their bank. Here are the biggest reasons why area residents and businesses love the First National Bank of Mount Dora.
Building A New Home?
Building a new home is exciting! Pick your lot, pick your floor plan, pick your finishes, and you have a home that was built just for you. Paying for it, however, may be a challenge. There’s the cost of the lot plus the full cost of the home, which is typically paid to the builder in phases during the construction process. Traditional loans or mortgages may not work well for new home builds. Construction loans may be a better solution.
Four Ways to Make Your Money Work for YOU
Is your money working for you? You work hard for your money, and you’ve likely saved over the years to accumulate some wealth. It’s nice to have some money in the bank, or in the stock market, or both, but is your money really working for you?
Do You Zelle?
The convenience of Zelle allows users to send, receive, and request money within minutes. This real-time service can be great for the user, but also makes it a primary target for scammers. Keeping the red flags in mind and following the tips below on how to use Zelle safely will help protect you … and your money.
Answering the Five Most Common Questions About Trusts
Most people mistakenly believe that trusts are only for the rich and famous, or maybe just the rich. In reality, a trust can benefit anyone who has assets to protect if they would prefer to avoid probate court and control the beneficiaries of those assets. Overall, a trust provides flexibility and control over how and when a person’s assets are distributed.
Trust vs. Will: Which do you need?
Do you know the difference between a Trust and a Will?
One key difference is that a Will must be filed with the Court when the person who made the Will dies. That means the Will becomes part of the public record. Everything written in it, including names, becomes a matter of public record, due to the need to probate a Will with the Court when someone passes away. The probate process itself is lengthy and expensive, sometimes costing tens of thousands of dollars.
Five Things You Can Do to Prepare to Buy Your Dream Home
Much like the foundation of a house, home ownership provides support and stability for the American Dream. It exemplifies the ideal that every citizen has an equal opportunity to achieve success and prosperity with hard work and determination. In fact, for some, home ownership is, in and of itself, the American Dream. Yet, people across the country are struggling to turn this dream into a reality.
Is Cybersecurity On Your List?
Scammers are working diligently every day to find new ways to get our personal information, our money, or both. We need to be working just as hard, and just as often. Recognizing the increasing urgency for consumer education, the American Banking Association (ABA) provided red flags and easy-to-remember tips to help consumers in its “Banks Never Ask That” campaign. Here are a few highlights that are worth remembering.
Financial Fitness Goals for 2021
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