Will Estate Planning Succession Planning

What is a Will? Succession Planning or Estate Planning Basics

Howdy Wall St. Willy! All this Halloween spooky stuff is making me think about death. So, what will happen to all of my stuff if I die? Well, you can always have a will. What is a will? A will is a document that your write which states all the people who will get your …

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Will Estate Planning Succession Planning
Health Insurance

What is Health Insurance or Medical Insurance?

Howdy Wall St. Willy! When I went to the doctors’ they asked me for my health insurance. But what is health insurance anyway? Health insurance is insurance that covers health related expenses like a doctor’s visit, hospitalization, medicines and many more. But to get this facility you have to pay a certain amount to the …

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Health Insurance
Life Insurance

What is Life Insurance?

Howdy Wall St. Willy! Sometime ago you told me about insurance and one of the kinds of insurance was life insurance. But what is life insurance anyway? Well, life insurance is insurance that covers somebody’s life, which means that if they die, the life insurance company pays a certain amount of money to the person …

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Life Insurance
Emergency Fund

What is an Emergency Fund and Why it is Important

Howdy Wall St. Willy! I heard my parents saying they want to open an emergency fund. But what is an emergency fund anyway? An emergency fund is money that you keep aside for unexpected expenses or if you lose your job. Well how much money should I have in my emergency fund? You should usually …

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Emergency Fund
Auto Insurance or Car Insurance

What is Car Insurance or Auto Insurance?

  What is car insurance or auto insurance? Car insurance or auto insurance is insurance meant to financially protect you against unforeseen events related to your car, like accidents, theft, fire, etc. (It is also called Motor Insurance or Vehicle Insurance). Are there different types of car insurance? There are 3 main types: Comprehensive Collision …

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Auto Insurance or Car Insurance
What to do if you are a Victim of Identity Theft - ID Theft

What to do if You Are a Victim of Identity Theft / ID Theft?

  We have talked about what identity theft is, and why it is bad. But what should I do if I am a victim of ID theft? As soon as you find out that you are a victim of identity theft, you need to take a few immediate steps. First, call the fraud department of …

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What to do if you are a Victim of Identity Theft - ID Theft
Identity Theft

What is Identity Theft?

  Recently, I read about identity theft. But what exactly is identity theft? Identity theft or ID theft is when someone steals your personal or financial information and uses it to commit fraud, in your name. What kind or fraud? Why is identity theft so bad? ID theft can have a huge financial impact, since …

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Identity Theft
What is Insurance

What is Insurance?

  Howdy Wall Street Willie. I heard my friends talk about insurance. But what is insurance anyway? Well, insurance is something that protects you financially against a loss, which means that if something goes wrong, the insurance company will pay you. Well, what can be covered by insurance? Anything of value can be covered by …

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What is Insurance
Safe Deposit Box or Safety Deposit Box

What is a Safe Deposit Box or Safety Deposit Box?

  What is a safe deposit box? A safe deposit box is a container—normally a metal box—that you rent from a bank or a credit union to store important documents and valuables. It is kept in the bank’s vault, and is also known as safety deposit box. Why is a safe deposit box needed? Even …

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Safe Deposit Box or Safety Deposit Box
FDIC - FDIC Insured - Federal Deposit Insurance Corporation

What is FDIC (Federal Deposit Insurance Corporation) and FDIC Insured?

  I’ve heard in some bank commercials that the account is FDIC insured. What does it mean? FDIC stands for Federal Deposit Insurance Corporation. It is a federal agency that insures deposits in participating US banks, which protects the depositors if the bank goes bankrupt. It was formed as a result of the great depression, …

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FDIC - FDIC Insured - Federal Deposit Insurance Corporation

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