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Howard Bank created Marylandbankingblog.com with the small business in mind. It is another way Howard Bank offers the Hands On approach to banking. If there is a specific topic you would like us to write about, email us at HBOnline@howardbank.com with your topic idea.

By Tiare Rath

Whether you’re preparing to launch a startup or want to grow your business, one thing is for certain: You’re going to need money. Debt and equity financing are two different financial strategies: Taking on debt means borrowing money for your business, whereas gaining equity entails injecting your own or other stakeholders’ cash into your company. (more…)

Smart Banking And Savings Basics

July 10th, 2014 | Posted by admin in Financial Planning | Savings - (Comments Off)

It’s all about saving the money you earn by banking smart, and using your banking for financial growth.

1. Money in a bank account is safe.

A bank is one of the safest places to stash your cash. In the wake of the financial crisis of 2008, the federal government increased the level of insurance on bank accounts — it’s now $250,000 per depositor.

2. You pay for the convenience of a bank account. (more…)

How to Save More for Retirement in 2014…

April 10th, 2014 | Posted by admin in Financial Planning - (Comments Off)

By: Joe Udo
Two of the most common New Year’s resolutions are to get fitter and save more money. These resolutions are very difficult to keep because the goals aren’t specific, and it’s hard to keep track of them. It’s better to make more specific goals like saving an extra $2,000 for retirement this year. Here are some ways all of us can save more for retirement this year. You’re on your own for the fitness resolution. I will be struggling with that one, too. (more…)

Financing Growth…

April 8th, 2014 | Posted by admin in Financial Planning | SBA - (Comments Off)

SBA is committed to helping small businesses, which are the backbone of the nation’s economy, thrive. Working closely with a wide range of lending partners across the country, (more…)

When working with a wealth advisor or financial planner the topic of long term care often comes up.  This conversation usually centers on whether or not to purchase a specific form of insurance that protects against the expensive cost of extended care.  But is this really the only definition of long term care?  In this day and age, aging can take many forms (more…)

Exploring the Single 401(k)…

March 7th, 2013 | Posted by Don Hannahs, CFP®, Partner in Financial Planning - (Comments Off)

Many self-employed entrepreneurs may want to save for retirement using either an IRA, Roth IRA, SEP (Simplified Employee Pension), or SIMPLE IRA.  A Single 401(k) maybe a better option due to higher contribution limits.  For 2013, a business owner can make elective deferral contributions of up to $17,500 plus (more…)

Are Your Assets Really Diversified?

January 10th, 2013 | Posted by Kathy Armstrong in Financial Planning - (Comments Off)

You’ve heard the old investment adage, “Don’t put all your eggs in one basket.” It’s good advice. A diversified portfolio should be at the core of any well-planned investment strategy. While a worthy goal at any age, it’s especially desirable as your net worth grows over the years.

The basic purpose of diversification is to reduce your risk of loss. It’s primarily a defensive type of investment policy. Depending on your investment goals and tolerance for risk, your strategy may emphasize one type of investment over another. But overall, your plan should be diversified. That’s because no single type of investment performs best under all economic conditions. A diversified program is capable of weathering varying economic cycles and improving the trade-off between risk of loss (more…)

Retirement Planning: Decade by Decade

August 21st, 2012 | Posted by Kathy Armstrong in Financial Planning - (Comments Off)

If you remember when the Beatles’ song, “When I’m Sixty-Four,” was first a hit, then retirement planning should have been high on your list of priorities for some time.  If you remember the song only as an “oldie,” you are in luck because you have time to make a retirement plan. No matter your age, once you begin working, keeping (more…)

I’ve never quite understood the vast majority of the public’s aversion to the word “budget.” If you are one of the millions of “budget-phobes” who equate the word with such unappealing terms as “restrictive,” “limiting” and even “scary,” let me share with you some of the terms I associate with the word: “freedom,” “dreams” and “control.”

Why the drastic difference in perception? I believe the answer lies in many individuals’ lack of awareness of the budget’s potential to help them achieve their goals. Some of the soundest advice I give my clients is to examine their (more…)

Inheriting a small fortune often brings about mixed emotions. Feelings of loss, confusion and anxiety can lead to difficulty in making choices regarding your new assets. But before you do anything rash, you must first complete one important task: do absolutely nothing.

Immediately following a loved one’s passing, you are not in a place to decide how to manage your newly acquired money or property, so the smartest thing you can do is sit tight and wait. Use this time to sort through your emotions, (more…)