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Even for families with the means to pay for tuition outright, college savings plans can carry major advantages. 529 savings plans are designed to be flexible and can be long-lasting, which brings specific benefits for families. Here are some lesser-known ways to use a 529 plan to fund education expenses.

You have several options for financing your children’s education. Learn more about 529 plans.

Several major economic developments occurred during the fourth quarter, including an additional 0.50 percent in federal funds rate cuts and a decisive outcome in the November election, where Donald Trump and the Republican party gained control of the White House, Senate and the House of Representatives. The underlying strength of the U.S. economy continued to surprise to the upside, setting up an interesting backdrop for 2025.

These four retirement mistakes can be expensive, but they’re easy to control. Find out what can you do before it's too late.

Passed with bipartisan support late in 2022 as part of an overall budget package by Congress, the so-called Secure 2.0 provisions represent some of the most significant changes to federal laws around retirement plans. Even more than the original Secure Act from 2019, Secure 2.0 will make retirement savings easier and more accessible to many Americans and will make it easier for businesses of all sizes to offer plans and encourage their employees to participate.

Think you’re too young to consider Medicare? No matter your age, if you are covered by a qualified high deductible health plan (HDHP) with a health savings account (HSA), Medicare should be on your timeline. It’s a milestone you need to include in your long-term HSA planning. Here’s why: Once you enroll in Medicare, you can spend your HSA funds, but you can no longer contribute to your HSA. Our Compliance Officer Ferne Emery offers some guideposts for along the way.

When you’re building a new business, it’s important to assemble a core team of trusted experts to ensure you lay a strong foundation for a successful, sustainable launch. These may include advisors in tax, legal, marketing, human resources or recruiting. When it comes to finances, your mind may jump to “Who’s going to lend me the money?”

You have a business or want to start one. You know the bank is your next stop, but you’re concerned you might not be ready. What do you do? Get started now, before your first meeting. The key is to ask yourself every question you can think of, prepare the answers and gather any documents you need. The more prepared you are, the better your banking experience will be. It can cut down review and decision time and starts your new banking relationship on the right foot.

What does it take to turn veterans into entrepreneurs? There’s no straight line from the military to the business world, but what you learned then can help you now. These are the issues most often faced and the lessons you can use to solve them.

For many middle market and commercial companies, big decisions are on hold while leaders watch interest rates, pricing pressures and demand shifts. But this slowdown is actually the perfect time to clean up the details—and that starts with how you manage cash. Smart cash management isn’t just bookkeeping. Done right, it can make your operations more efficient, protect your margins and prepare you for your next move.

There’s a new federal rule requiring more than 32 million small businesses across the United States to register and file with a bureau of the U.S. Treasury Department called the Financial Crimes Enforcement Network (FinCEN). The Beneficial Ownership Information (BOI) database collects information about who ultimately owns and controls each reporting company. We've answered some frequently asked questions about this development that's been in the works for several years.

With continued changes in government funding, the financial outlook for nonprofits feels more stressful than ever. But there are steps you can take right now to help insulate your organization from the severity of what may come. From business and banking perspectives, here are a few items and actions to consider.

Have you received a text or email about a missed toll payment? Did you scratch your head trying to remember when you might have missed one–or the last time you drove on a toll road? You’re not alone.

Mobile payment apps like Venmo, Cash App and Zelle make it easy to send money virtually between friends and family. Just download the app, set up a free account, connect it to your bank account or debit card, and voila! You can pay your babysitter, reimburse a friend for picking up groceries or chip in for a group birthday gift. Easy, right? Yes, as long as you treat it like cash, because there are no strings attached. "Cash" sent through a mobile payment app can’t easily be retrieved or refunded if you send it to the wrong person or don’t receive what you paid for.

You may have learned to spot a scam that’s phishing for your personal identifying information, like your social security number or birthdate, but some scams are just out to take your money right then and there. Even worse, when tricksters con you into completing a voluntary transaction, even under false pretenses, it’s extremely hard to retrieve your money. It’s important to be familiar with the common types of scams designed to separate you from your money.

While dealing with problems resulting from identity theft can be time-consuming and frustrating, most victims can resolve their cases by being assertive, organized, and knowledgeable about their legal rights. Read this for steps you should take immediately.

If you believe your Pinnacle debit or credit card is lost or stolen, call us immediately.

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