Latest news with #Haddonfield
CBS News
12-05-2025
- Entertainment
- CBS News
South Jersey families celebrate a sunny Mother's Day with time together, ice cream and more
Families celebrate moms and grandmothers on a sunny Mother's Day in Haddonfield, New Jersey Families celebrate moms and grandmothers on a sunny Mother's Day in Haddonfield, New Jersey Families celebrate moms and grandmothers on a sunny Mother's Day in Haddonfield, New Jersey Sunday was all about moms along Kings Highway in Haddonfield, New Jersey. "We went antique shopping this morning and then walking around the park, and now we're getting some ice cream," said mom Bryanna Church. For her and one-year-old Emmy, this year has been full of firsts. "She was two weeks old on my first Mother's Day, so this is the first one I get to be out and about and enjoy," Church said. "There's nothing better," said grandmother Joyce Sambuca, who spent her day surrounded by her family and grandchildren. Granddaughter Valentina told us her "Gaga" as she's known is "super kind," while grandson John Meyers said, "Every Thursday we usually hang out, which is pretty cool. I know if I ever need a hand, she's always going to be there." Diana Martorano, like many, is remembering her mom. "My mom is no longer here, so for me to have my children here, it's a blessing," Martorano said. But alongside her two daughters, she knows she has a lot to be grateful for. "This one is pregnant with my first grandchild too," Martorano said. With the weather pretty much perfect, many said just being together is the best gift. Elsi Allen has two children and four grandkids — along with a full heart this Mother's Day, the first in a decade she's spent with her kids. "I'm happy to be with you guys, I love you guys," Allen told her granddaughter Ashley and their family.
Yahoo
11-05-2025
- Business
- Yahoo
I'm a Financial Planning Expert: Here's How Much Money Boomers Should Have in Their Checking Accounts
If you're a boomer who's wondering how much money you should keep in your checking account, you're in the right place. The short answer is that it's important to have enough money on hand — or easily accessible in a checking account — to cover your day-to-day expenses, automatic payments and maybe a few small emergencies. It doesn't necessarily matter how old you are either. Having that money in your account can provide you with a sense of financial security as you go about your daily life. Read Next: Explore More: But how much money is enough — and how much is too much? Here's what financial planning experts, Barbara O'Neill and Adam Puff, told us. 'You should have six months of expenses in your checking account,' said Adam Puff, president and founder of Haddonfield Financial Planning. 'This is certainly more important when you are working and dependent on a paycheck.' This general rule of thumb applies to nearly everyone, said Puff, regardless of age. But for boomers especially, it might be wise to keep at least this much money in a checking account so they're prepared for any unexpected expenses and don't have to withdraw from their investments. 'With regard to boomers, they may not want to liquidate assets or retirement assets if an emergency arises,' said Puff. 'That said, nobody can time the market,' he added, 'so having a cushion may well give you the time you need to be more selective in what assets you need to sell to meet an unexpected expense or at the very least, buy you some time.' Be Aware: While keeping about six months' worth of living expenses in a checking account is a good guideline, boomers might want to allocate the majority of that money into a savings account instead. That way, they can capitalize on the interest earned while retaining easy access to it in case of emergencies. 'According to the Federal Deposit Insurance Corporation — or FDIC — the average interest rate for checking accounts as of May 8, 2025 was 0.07%,' said Barbara O'Neill, Ph.D., a certified financial planner and expert contributor for 'By contrast, the best high-yield online savings accounts were paying a 4.25% to 5% APY — annual percentage yield — in early May or over 50 times more what checking accounts pay,' she continued. 'Given this big difference in APYs between checking and savings accounts, it is best to keep only the amount needed to pay household bills in a checking account.' She also shared that this amount depends on the baby boomer household. For example, O'Neill said, 'If more money is direct deposited into their checking account than is actually needed for expenses — via a pension, Social Security, a job, required minimum distribution withdrawals, etc. — it should be transferred to savings.' 'I think the boomer generation still has a little bit of the Great Depression era hanging over them and are certainly more inclined to have a safety net, even if it's a larger than it should be,' said Puff. 'That means for many boomers, the amount of funds in their checking account is often too large.' The problem with this is that even checking accounts with a higher yield usually don't pay as much as they could. Depending on the interest rate, it might be wiser to check out investment firms — like Fidelity or Vanguard — or online banks to compare options. The money might be less accessible when it's wrapped up in investments, but it can grow more quickly. 'If you have too much cash, you should think about where you are keeping it so your cash is earning its maximum potential,' said Puff. But don't neglect your safety net. 'This world seems to be getting crazier and having cash on hand can save a lot of headaches from unforeseen issues,' he continued. 'For the boomer generation, those emergencies are more likely to be medical or involve their children or grandchildren. You don't want to be caught short if it involves your family or your health, which is why I circle back to recommending reserves of at least six months of expenses.' Tracking your expenses at any age is a good idea, but it's especially important if you're nearing your retirement years — or have already retired — and every dollar counts. Knowing how much you spend can also help you decide how much you actually need in your checking account. 'Baby boomers — and adults of all generations — need to have enough money in their checking account to pay their monthly bills,' said O'Neill. Tracking household expenses for a month or two can help determine this amount, he added. 'Be sure to include the monthly prorated amount for occasional expenses such as auto insurance premiums, vacations and property tax bills.' Say your average monthly expenses add up to $3,000. You should ideally have $18,000 in checking — or split between your checking and savings accounts. There's no need to be so exact when it comes to your six months' worth of expenses goal. If anything, it's better to err on the side of caution and add a little extra to account for bills that might change, like insurance premium changes. 'A modest 'fudge factor' is also a good idea,' said O'Neill. 'For example, if monthly bills total $3,200, aim to keep a balance of $3,500.' Or if you're keeping the full amount in checking, that $3,500 should actually be $21,000. Don't forget to account for any account balance minimums. This shouldn't be too difficult when working with such large sums, but it's still worth keeping in mind that banks often charge a fee when your balance falls below a certain threshold. 'Checking account owners must be careful not to fall below the balance required by their bank to avoid an account maintenance or service fee,' said O'Neill. According to O'Neill, this amount and how it is determined vary by financial institution and may be based on a minimum daily balance, average daily balance or linked balance between checking and savings accounts. Everyone's situation is different, so while some boomers might want to follow the six-month rule, others might be fine with a smaller amount. At the same time, some boomers might determine they need more money in checking — or that they're better off allocating their money across different types of accounts. 'It really depends on your needs and your goals,' said Puff. 'While of course you need to provide for yourself and your spouse, you may have additional goals such as a scholarship fund, charitable contributions, faith-based donations, leaving a legacy for your children and grandchildren and so on.' Take the time to figure out what you need, and don't be afraid to adjust the amounts based on your goals, expenses and comfort level. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees How Far $750K Plus Social Security Goes in Retirement in Every US Region 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 12 SUVs With the Most Reliable Engines This article originally appeared on I'm a Financial Planning Expert: Here's How Much Money Boomers Should Have in Their Checking Accounts Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-05-2025
- Business
- Yahoo
I'm a Financial Planning Expert: Here's How Much Money Boomers Should Have in Their Checking Accounts
If you're a boomer who's wondering how much money you should keep in your checking account, you're in the right place. The short answer is that it's important to have enough money on hand — or easily accessible in a checking account — to cover your day-to-day expenses, automatic payments and maybe a few small emergencies. It doesn't necessarily matter how old you are either. Having that money in your account can provide you with a sense of financial security as you go about your daily life. Read Next: Explore More: But how much money is enough — and how much is too much? Here's what financial planning experts, Barbara O'Neill and Adam Puff, told us. 'You should have six months of expenses in your checking account,' said Adam Puff, president and founder of Haddonfield Financial Planning. 'This is certainly more important when you are working and dependent on a paycheck.' This general rule of thumb applies to nearly everyone, said Puff, regardless of age. But for boomers especially, it might be wise to keep at least this much money in a checking account so they're prepared for any unexpected expenses and don't have to withdraw from their investments. 'With regard to boomers, they may not want to liquidate assets or retirement assets if an emergency arises,' said Puff. 'That said, nobody can time the market,' he added, 'so having a cushion may well give you the time you need to be more selective in what assets you need to sell to meet an unexpected expense or at the very least, buy you some time.' Be Aware: While keeping about six months' worth of living expenses in a checking account is a good guideline, boomers might want to allocate the majority of that money into a savings account instead. That way, they can capitalize on the interest earned while retaining easy access to it in case of emergencies. 'According to the Federal Deposit Insurance Corporation — or FDIC — the average interest rate for checking accounts as of May 8, 2025 was 0.07%,' said Barbara O'Neill, Ph.D., a certified financial planner and expert contributor for 'By contrast, the best high-yield online savings accounts were paying a 4.25% to 5% APY — annual percentage yield — in early May or over 50 times more what checking accounts pay,' she continued. 'Given this big difference in APYs between checking and savings accounts, it is best to keep only the amount needed to pay household bills in a checking account.' She also shared that this amount depends on the baby boomer household. For example, O'Neill said, 'If more money is direct deposited into their checking account than is actually needed for expenses — via a pension, Social Security, a job, required minimum distribution withdrawals, etc. — it should be transferred to savings.' 'I think the boomer generation still has a little bit of the Great Depression era hanging over them and are certainly more inclined to have a safety net, even if it's a larger than it should be,' said Puff. 'That means for many boomers, the amount of funds in their checking account is often too large.' The problem with this is that even checking accounts with a higher yield usually don't pay as much as they could. Depending on the interest rate, it might be wiser to check out investment firms — like Fidelity or Vanguard — or online banks to compare options. The money might be less accessible when it's wrapped up in investments, but it can grow more quickly. 'If you have too much cash, you should think about where you are keeping it so your cash is earning its maximum potential,' said Puff. But don't neglect your safety net. 'This world seems to be getting crazier and having cash on hand can save a lot of headaches from unforeseen issues,' he continued. 'For the boomer generation, those emergencies are more likely to be medical or involve their children or grandchildren. You don't want to be caught short if it involves your family or your health, which is why I circle back to recommending reserves of at least six months of expenses.' Tracking your expenses at any age is a good idea, but it's especially important if you're nearing your retirement years — or have already retired — and every dollar counts. Knowing how much you spend can also help you decide how much you actually need in your checking account. 'Baby boomers — and adults of all generations — need to have enough money in their checking account to pay their monthly bills,' said O'Neill. Tracking household expenses for a month or two can help determine this amount, he added. 'Be sure to include the monthly prorated amount for occasional expenses such as auto insurance premiums, vacations and property tax bills.' Say your average monthly expenses add up to $3,000. You should ideally have $18,000 in checking — or split between your checking and savings accounts. There's no need to be so exact when it comes to your six months' worth of expenses goal. If anything, it's better to err on the side of caution and add a little extra to account for bills that might change, like insurance premium changes. 'A modest 'fudge factor' is also a good idea,' said O'Neill. 'For example, if monthly bills total $3,200, aim to keep a balance of $3,500.' Or if you're keeping the full amount in checking, that $3,500 should actually be $21,000. Don't forget to account for any account balance minimums. This shouldn't be too difficult when working with such large sums, but it's still worth keeping in mind that banks often charge a fee when your balance falls below a certain threshold. 'Checking account owners must be careful not to fall below the balance required by their bank to avoid an account maintenance or service fee,' said O'Neill. According to O'Neill, this amount and how it is determined vary by financial institution and may be based on a minimum daily balance, average daily balance or linked balance between checking and savings accounts. Everyone's situation is different, so while some boomers might want to follow the six-month rule, others might be fine with a smaller amount. At the same time, some boomers might determine they need more money in checking — or that they're better off allocating their money across different types of accounts. 'It really depends on your needs and your goals,' said Puff. 'While of course you need to provide for yourself and your spouse, you may have additional goals such as a scholarship fund, charitable contributions, faith-based donations, leaving a legacy for your children and grandchildren and so on.' Take the time to figure out what you need, and don't be afraid to adjust the amounts based on your goals, expenses and comfort level. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees How Far $750K Plus Social Security Goes in Retirement in Every US Region 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 12 SUVs With the Most Reliable Engines This article originally appeared on I'm a Financial Planning Expert: Here's How Much Money Boomers Should Have in Their Checking Accounts
CTV News
09-05-2025
- General
- CTV News
Oyster season opens in P.E.I. for first time since detection of MSX parasite
Shown are oysters harvested in Canada at Bryan Szeliga's Fishtown Seafood in Haddonfield, N.J., Thursday, March 6, 2025. THE CANADIAN PRESS/AP-Matt Rourke
