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Have you ever seen that icon on your credit card with frequency wave-like lines, similar to the WiFi icon, but sideways? That means your card is enabled for NFC payment. But what exactly does that mean?

What is NFC?

Near Field Communication is a feature available on most modern phones. As the name suggests, NFC is a method of wireless data transfer. It detects and allows technology in the vicinity to share data without an internet connection.

nfc payments

How Does NFC Work?

NFC may power key cards or fobs, pet microchips, and even public transit cards.

NFC is more simple to use. It is a successor to radio frequency identification. The NFC chip in your card is part of a wireless link. It is activated by another chip. Once that happens, small bits of data flow between the two devices. The transfer occurs when your card is held an inch or less from the other chip.

Advantages of NFC

There’s a reason we’re seeing this technology more and more in our everyday lives.

As FIS.com notes, there are four main advantages of NFC payment.

NFC is easy

Using NFC is simple.

You don’t have to recall a passcode since it doesn’t require a pin. With near field communications, all you need to make a payment is to hold up your phone, your NFC-equipped card, key fob, or bracelet near the POS terminal and you’re done.

When compared to EMV cards that require entering the card, waiting, and typing in your pin code, NFC cards are a one-step, quick process.

NFC is fast

As consumers, we are attracted to businesses where we don’t have to wait.

Using NFC, your transaction takes a fraction of the time it would take to pay cash or with a traditional credit card. This is good news for both customers and businesses.

Transactions are faster with near-field communication. Checkout lines are shorter, fewer staff members are required and customers move through purchase and payment rapidly.

There’s nothing to remember

NFC works automatically. No pairing code is needed.

With NFC, the only thing you need to carry is your smartphone, card, or NFC-enabled item.

NFC is energy efficient

The chips in NFC require only minimal amounts of energy to link up.

These low or passive energy chips are much more power-efficient than other wireless communication.

NFC is physically safer

As we deal with COVID-19 and the spread of other viruses, people are more sensitive than ever when it comes to touching things.

Near-field communication is a safe, contactless payment option.

You simply hold the NFC chip near the terminal and the transaction is complete. Having a means of payment that does not involve human touch has been reassuring during these difficult times.

NFC is more secure

Many people fear that something as fast and easy as NFC isn’t as secure as requiring a PIN or a signature at payment. If customers don’t trust the payment option, they won’t use it.

NFC signals are encrypted and transmitted only in close proximity. Meaning, the signal can’t be hacked by someone who is even a few feet away.

Security protection built into smartphones makes NFC payments even more secure if the transaction is made not with a card but with your phone. Thus, using your phone as your NFC chip, there is an additional layer of security.

Issuers also place lower limits on NFC transactions (example $100 max) to protect against lost or stolen cards and fraudulent transaction attempts.  Some even allow you to freeze and unfreeze the NFC contactless payment option for additional security.

NFC increases customer satisfaction

Because transactions are faster, checkout lines are shorter. The result is increased customer satisfaction with the business. Ease of transaction makes customers happy. They will return to buy at this business. When they are assured NFC is a very secure way to pay it adds to customer satisfaction.

NFC encourages consumer spending

Since customers can check out faster because of tap and pay, those who might make a purchase are encouraged to do so. If there are long lineups at the movies, the grocery store, a  restaurant, a gas station, or the bookstore, potential buyers will abandon their goods and leave.

NFC payment translates to a pleasant business experience. Happier customers and more efficient operations are what make buyers purchase and return to buy again. Be careful not to let your spending get out of control, though!

NFC is easy to implement

More businesses are starting to implement near-field communication as well as NFC-enabled payment terminals. Most new payment equipment now contains near-field communication technology. Setup is instantaneous.

tap and pay

Disadvantages of NFC

Livewire writer Priya Viswanathan points out that although there are many advantages to NFC, there is a downside.

For some businesses, implementing NFC technology may be just too expensive. Large retailers can afford the hardware and software upgrades. Some stores and shops may take a longer time to acquire new devices.

As with any change, there is a level of mistrust until consumers are assured NFC is safe and easy.

How do NFC and EMV Differ?

EMV means Europay, Mastercard, and Visa (the 1994 founders) and commonly refers to the smart chip in debit and credit cards. EMV uses a chip embedded in a card instead of a magnetic strip. Chances are you’ve probably seen it being implemented on newer cards. The EMV chip is much more secure than the magnetic strip.

NFC chip stands for near field communication technology and is typically embedded inside debit and credit cards, smartphones, or smartwatches. This chip allows data to be read by a POS terminal without inserting your card creating a contactless payment. You simply hold the NFC enabled item near the terminal and boom, payment accepted. No pin, no swipe.

The NFC “card” might not be a card at all. It could also be a key fob, a bracelet,  a phone, a watch, or any other object a chip can be inserted in.

Many businesses have machines that can accept both EMV or NFC. However, some transaction terminals may take only one payment option.

Examples of NFC Payments

Welcome to the world of touchless technology. Wherever there is a POS terminal that accepts NFC transactions, you can tap and pay.

This might include a restaurant, a coffee shop, a taxi or subway ride, buying a concert ticket, or getting refreshments for that concert.

You can pay a toll, purchase a subway ticket, pay for coffee, or get snacks from a vending machine all with a contactless tap.

nfc chip

Why Choose Marygold & Co.?

Marygold & Co. provides you with NFC Mastercard* debit cards to enable contactless payment.  Additionally, our app enables contactless payments from your Android phone, and clients have access to NFC-enabled key fobs and silicone bracelets. Support for Apple Pay, Google Pay, and Samsung Pay wallets are also coming in late Spring of 2021.

We have gone to great lengths to ensure customer security is the priority for contactless payment cards.

  • Lower limits are set on purchases and
  • New technology also allows you to freeze your NFC chip. You can unfreeze it at any time.
  • You can also lower or raise the purchase maximums whenever you wish for the NFC-equipped card, bracelet, key fob, watch, or smartphone.

As part of our customer service plan, Marygold & Co. cards have both NFC and EMV capabilities.

Life and surprise expenses don’t always align with payday. It is important to be proactive in order to protect yourself (and your bank account) from unforeseen circumstances. Marygold & Co. banking services enable you to get your direct deposit paid up to two days earlier, certainly helping with those unexpected bills and expenses. But how does early direct deposit work?

how does early direct deposit work

What is Early Direct Deposit?

Early direct deposit allows you to access your paycheck funds faster than most traditional banks.

The overwhelming majority of Americans receive a direct deposit of their paycheck. Depending on your payroll company, direct deposits are sent via ACH to your bank account up to two days early along with a designated posting date. Most institutions hold these funds until the paycheck posting date while actually earning interest on those funds.

Marygold & Co. will credit customer direct deposits on the date funds are received providing access to pay up to two days early.

Advantages of Early Direct Deposit

Direct deposit is already fast, convenient and the safest way to get paid. Getting paid early makes it that much better!

With early direct deposit, if your Marygold & Co. account receives your paycheck early, so do you.

Setting up direct deposit is easy and receiving your paycheck early with Marygold & Co. is automatic. With direct deposit, you can truly “set it and forget it.” Once you set it up, you’ll never again worry about accessing your paycheck funds.

With early direct deposit, your money can be earning interest up to two days earlier. This interest affords you more spending power for free.

How Do You Get Started?

  • Fill out your employer’s Direct Deposit Forms.  

Marygold & Co. customers can automatically access these forms for over 80,000 employers right from their app.

  • Send Payment Instructions 

Ask your employer to send payroll instructions to their bank.

  • Pass Payment Information 

Once your employer’s bank receives payment instructions it sends these data files to an Automated Clearing House. This starts a bank-to-bank electronic transfer from the employer’s bank to yours.

  • Organize Payment Information

The Automated Clearing House will organize all of your payments so that each payment is correct and sent to your bank.

  • Process the Payment

Once your bank receives its payment instructions, it starts the payment process.

mobile banking deposit

Is Direct Deposit Safe?

Yes! Direct deposit is an electronic payment.

It actually passes through fewer hands than other deposit methods.

CreditRepair.com notes that direct deposit is the safest way to receive funds.

The United States Department of the Treasury and the Federal Reserve Bank dispel myths that point to a lack of safety of direct deposits.

Does Direct Deposit Work for Weekend Payments?

Direct deposit processes on business days. This excludes weekends and bank holidays.

What Happens if my Payday is a Holiday?

Direct deposits are usually paid on the banking day before the holiday. So, if Christmas fell on a Friday, your direct deposit would most likely occur on the Thursday before.

mobile banking savings account

Can My Direct Deposit Go Into My Savings Account?

Your direct deposit can typically be directed into the account of your choice and/or be split between accounts, like Marygold & Co. Money Pools.

How does Early Direct Deposit Differ from a Wire Transfer?

Wire transfers cost $35 nationally and $45 internationally. Direct deposits are free and are processed via Automated Clearing House (ACH).

Fastspring.com explains the difference between the two. Direct deposits are processed overnight. Wire transfers are processed and deposited instantly, however international wire transfers do take a little longer. So, early direct deposit is much faster than direct deposit but not as fast as a wire transfer.

Marygold & Co. Early Direct Deposit

Banking with Marygold & Co. gives you the most for your hard-earned dollars. Marygold & Co. offers fast, convenient mobile banking that includes early direct deposit and interest-earning APY. Marygold & Co. bank accounts are provided by Radius Bank, Member FDIC, a pursuant license from Mastercard International.  Deposits are guaranteed by FDIC insurance up to the maximum allowed for every client’s account.

For more information on Marygold & Co.’s early direct deposit and free, convenient mobile banking services, check out our other blogs.

The end of the year and/or beginning of the next year is usually a time when finances and money seem to be top-of-mind. Often when we think about money, we think about how to best manage it and stay organized. As you take this time to figure out your goals, organizing your financial life is a goal you may want to consider if you haven’t already.

Organizing Your Financial Life

Why Organize Your Finances?

Financial planning helps you understand how much money you have coming in, where and how you are spending it, and how much you have left for savings. With this knowledge, you can then set short and long-term financial goals.

Financial planning helps you prepare for emergencies. With basic budgeting and setting priorities, you can sleep better because you have considered contingencies. Financial planning nurtures prudent spending and careful investing in your future.

Ways to Better Organize Your Finances

Ramsey offers these suggestions.

It is shocking to note that over half of earners do not have a budget. They frequently run out of money before their next paycheck without a clue of how that happened. Setting up a budget should be a priority as soon as you start to earn money. It is not wise to delay doing this.

Fortunately, there are several easy apps and software programs (as well as tips) to help you do this.

  • Check out these popular budgeting tools for first-time budget organizers.
  • Set aside some time for budgeting. An effective budget behavior is to block a day and time (monthly) for budgeting.
  • Calculate what to spend on such items as rent, groceries, loans, transportation, work clothes, and leisure. Figure out how much you can set aside for long-term and short-term savings.
  • Try to pay your bills online. Almost forty percent of wage earners do this. Pick a time in the middle and at the end of each month to look after bill paying. It also helps to manage those days of the month and try to space them out or consolidate them, depending on your preference.
  • Get into the habit of collecting and organizing your receipts. Keep records of them so they are part of your budget.
  • If keeping receipts doesn’t sound feasible, you can use a financial services app like Marygold & Co. to keep track of your transactions taking place in the account.
  • Create categories for your budget. These will help you get organized and stay within your guidelines.
  • Designate a portion of your earnings transferred to savings. When you get paid, pay yourself first. A good aim is ten to twenty percent earmarked for savings. When the money is automatically deducted from your account, it makes saving a lot simpler and more secure. Out of sight, out of mind.
  • Get rid of those credit cards. People who use credit cards instead of cash or debit cards spend at least 35% more. Instead, use cash or your debit card. This avoids both overspending and interest on unpaid credit card bills.
  • Couples should combine expenses and an account for paying bills. Combine your incomes and do your bill paying, vacation saving, and investing.  Working as a team improves money management and communication about financial decisions.
organize your financial life

General Tips for Wise Financial Organizing

If you are new to a financial organization, Investopedia.com offers these practical tips for getting started:

  • Learn self-control. Spontaneous purchases are one of the major reasons for personal debt. Unless a purchase is essential, hold off until you’ve saved enough to buy it. Many times this delay gives you time to rethink the wisdom of owning the item.
  • People who find themselves out of money before their next paycheck (or living paycheck-to-paycheck) often have no idea where their money went. That’s one of the biggest reasons to set up and stick to a budget.
  • Find a time-honored financial software that is user-friendly. Learn how to manage various parts of your financial life. These areas should include budgeting, debt tracking, setting savings goals, and investment coaching.
  • Check with your financial institution to see if they have free apps or software to help you manage your money.
  • Learn how to use spreadsheets like Excel to manipulate and perform calculations on your financial data.
  • Look for opportunities to learn and research more about financial planning from sources like YouTube, free seminars, webinars, and podcasts.
  • Explore all features of financial apps or software from paying bills, tracking the value of your assets, and computing your total net worth to invest.
  • Set up an emergency fund. This should be separate from savings and general expenses. Things happen. Appliances need to be replaced. Your car breaks down. Your business downsizes and you’re out of work. Advisors suggest your emergency account should have enough to pay expenses for three to six months. If you put this in a high-interest account, it will earn money while it sits there.
  • The time to start saving for retirement is when you get your first paycheck. Set aside a little each month in an account earmarked for retirement. That way, you will not be part of almost 35% of Americans who cannot afford to retire.

How Has Technology Made Organizing Your Financial Life Easier?

Technology has changed the way individuals organize their personal finances. Business Insider notes several innovations. These include free apps offered by some banking institutions, user-friendly software, and expense trackers.

What are the advantages of using technology in organizing your personal finances? Finance software and apps allow you to increase your efficiency in money management. Using technological aids, you can learn new and improved ways to set and meet short and long-term goals.

Some of the newest finance software teaches you to set up a budget and track your spending. Other software and online courses assist with setting up a portfolio and making wise investment choices.

how to organize your financial life

Key Feature of Marygold & Co.

One of the most important aspects of organizing your finances is to establish specific, money-saving priorities and goals.

Marygold & Co. offers an innovative way to empower clients to reach their financial goals through the apps Money Pool savings options.

What is a Money Pool Savings Account?

Essentially, a Money Pool is a prioritized goal-specific savings account. Marygold & Co. Money Pools provide a complete and transparent view of your progress towards each goal; short and long term. Money Pools allow you to clearly define your goals, set timelines, and track your progress. Say you want to save for a down payment on a house: you simply create your custom Money Pool within the app, set the amount, time frame, and automatically divide a portion of your pay into your ‘Pool’. These interest-earning accounts help you achieve your financial goals faster.

Coming Soon in 2021!  Money Pools will be structured around the specific timeframe and target amount of the associated goal.  As a Registered Investment Advisor, Marygold & Co. Advisory Services will offer unlimited Money Pools comprised of highly liquid Exchange Traded Funds.

Marygold & Co. lets you create customized, individual accounts for your unique and personal goals all in one place, marrying high tech with high touch solutions.

Gone are the days of having to rush to the bank after work to deposit your check or get cash.

Cell phones do it all nowadays, including saving you time from having to go to the bank! The future of mobile banking is here, but even that technology continues to evolve and improve.

We have seen how mobile banking has shaped the way people around the world manage their money. Nowadays, it’s safe to say that the majority of Americans use some form of mobile or online banking as a way to access their accounts. Like online banking, it allows you to safely transfer funds, pay the bills, find ATMs, and find branch locations – all from the convenience of your mobile device.

The last decade has shown us that while mobile banking is relatively new, the trend is moving away from physical locations. Banks are changing and, as a result, the way we manage our finances is evolving. Companies like Marygold & Co. are looking for ways to adapt so that customers who want new features and services can stay “on the go.”

mobile banking app

How Mobile Banking is Evolving

Considering how far mobile banking has come, what does the future of the fintech industry look like? Let’s take a look at the evolution of banking in the past to better understand where mobile banking and the industry are heading.

Drive-Thru Teller Service

The first real breakthrough was the “drive-thru.” People no longer had to park and walk in to possibly wait in line. They could accomplish everything they needed to do from the comfort of their car.

ATMs

Next was the Automated Teller Machine, aka the ATM. This saved both the customer and the banks a lot of time. Customers can arrive and deposit/withdraw whenever they need to. In turn, fewer tellers/bankers are standing around waiting for the customer.

The Internet

The biggest game-changer was the Internet. Being able to view your account remotely opened up the door for mobile banking to come in and introduce a plethora of new features. Customers have come to expect highly-personalized and engaging experiences.

banking on a mobile device

Customer Expectations

There are plenty of emerging technologies mobile banking has introduced. Marygold & Co. will not only meet customer expectations but create a better customer experience. More convenience, more support, and more features. Some of the following are examples of how mobile banking has evolved and what to expect from future mobile banking:

More Security Features

With the emergence of new technologies comes the possibilities of new risks. Companies like Marygold & Co. have found a way to ensure your money is both safe and accessible. Having the ability to not only view what purchases you’ve made but also allow certain transactions depending on location help keep customers mind at ease. With that comes the ability to restrict it from being used internationally.

Security features like these allow for customers to feel safe and in control. Another helpful feature is the ability to toggle misplaced cards on/off. With a simple swipe, you have the ability to either find your card or avoid a phone call to automated machines. Having control like this can mitigate the risk of fraudulent charges.

Money (Saving) Pools

Marygold & Co. have improved on the idea of Money Pools and combined them with saving accounts. This can allow for both, short/long term financial goals to be met with reduced risk.

They allow for a more sophisticated investment structure – meaning you can earn more than a basic savings account while being FDIC insured. This is critical for anyone with long-term and short-term financial goals.

Payment Devices

Banking had become truly mobile and moving towards a more efficient future. Not having to carry cash or even a wallet is now an option.

We are now at the point where the clothes and accessories you wear include payment options. It’s as simple as waving or tapping any wearable to make a transaction.

Reaching for a card or phone is an extra step that technology has the ability to eliminate. NFC technology (Near-Field Communication) is a step towards the future. The way it works is deceptively simple, using short-range radio waves to communicate compatible devices. This technology has been used for a while in a variety of different industries. Now it’s pushing the needle forward on how banking handles payments.

Payroll is Easy to Receive

If you think debit and credit cards are a thing of the past, wait till you hear about Marygold & Co.’s direct deposit features. Having the ability to get paid as soon as the date hits without needing to go to the bank is one of the most innovative features. For decades, people have had to deal with having to wait to cash in on their hard-earned money. Your employer having the ability to pay instantly comes with all the advantages and no downside. It’s extremely simple to set up, which also makes it fast. On top of that, you eliminate the risk of stolen or lost checks. What really sets this apart is that it offers incentives like waiving monthly fees, meaning it’s free. Marigold & Co. does not charge you to sign up for direct deposit.

Send and Receive Money Seamlessly

Employers sending you money directly isn’t the only innovation. Receiving and sending payments from anyone with a smartphone is now available from the palm of your hands. Anyone with a cell phone or email has the ability to make mobile payments in an instant. It is safe and has added layers of security. Biometric scanners and face recognition allows for secure and seamless transactions between friends, family, landlords, and more.

Marygold & Co's mobile banking app

Marygold & Co.

Enter: Marygold & Co. Now money doesn’t grow on trees, but Marygold & Co’s banking app features will make your money “flower.” That is to say that by using Marygold & Co, you’ll get the most out of your money. The Marygold & Co app gives you access to your money from the tips of your fingers. It is convenient and innovative, giving you access to many of the new features mobile banking has brought into the finance world.

As a recap, here are some of the benefits you can receive:

  • FDIC insured accounts
  • No-fee ATMs
  • Interest-earning savings account
  • Easy money transfers
  • Get paid early
  • Customized security

Mobile banking and financial services apps have changed the way people manage their money. In today’s digital world, cash is no longer king! Convenience is the name of the game.That is especially true when it comes to the way people are managing their finances. Self-service banking and digital banking through innovative mobile banking features are playing a central role in today’s economy.

Services like Paypal, Zelle, and Venmo have made electronically transferring funds, dare it be said, convenient. It is not uncommon to hear someone say, “just Venmo me,” for transactions among other peers, which is reminiscent of the earlier days of people saying, “Just Google it” for information.

More Than Managing Money – Innovation

Now if convenience is the newly-crowned king, its queen is innovation. For decades banks have been flying under the radar tied to their legacy systems and technology, unable and unwilling to provide better technology tools. With evolving customer demands and open API technology, that is no longer true. Fintech companies are introducing more sophisticated and convenient ways to manage your money without the need to ever step into a branch.

Current world factors have made matters more urgent for the banking industry, emphasizing the need for complete mobile management of accounts. Banks need to consider what is best for both customers and employees. A step in the right direction is digital transformation.

mobile banking from home

Financial Technology (Fintech) is Here to Stay

Fintech companies are making their moves and competing directly with banks and credit unions with staggering customer growth.  Millions of people have opened accounts with Fintech providers to manage their everyday banking needs unburdened by the bank branch mentality.  Fintechs are partnering with forward-thinking financial institutions and technology partners to bring innovative ideas and cutting edge technology that people want with none of the old-school banker hassles. With that, more branches are closing every day and smartphone owners are using mobile financial apps more often.

Here’s a summary of Marygold & Co.’s mobile banking features that are being implemented into the app, to keep up with changing customer profiles:

Security Features

There is nothing better than knowing your money is safe. Financial institutions must take into account and include mobile malware, app assurance, data protection, and identity management. Companies must consider how you can feel safe using online banking and financial services apps.

Giving customers complete control of their account is a good start. Having the ability to toggle your card on and off is a helpful feature. In the event you misplaced it you have the option to prevent anyone from using it with the tap of a finger.

Having that option saves you time from having to call the company and request a new one. On top of that, you would have to update your other recurring expenses due to the new numbers tied to the one you might have lost.

Another helpful security feature is limiting your card use to a specific location. Apps now are offering the ability to customize where the card is authorized for use. It goes the opposite way as well, you can restrict it from being used internationally. The customization also takes place online, you can enable/disable online transactions. With features like these, the risk of fraudulent charges is greatly decreased.

Marygold and Co mobile banking features

Money (Saving) Pools

Successful saving requires more than lumping money together to plan for a multitude of needs.  How do you know your progress in saving towards things like a house down payment, a vacation, or a new bike if you are simply putting $X away each month?. Do you have and maintain a proper emergency fund on top of all that?  Most of us have complex needs that traditional bank accounts can no longer support. Both short term and long term goals require more sophisticated ways of saving money while tracking each goal independently.

Money Pools enable you to set up independent savings or investment accounts for specific goals, timeframes, and amounts. Establish a funding rule like $200 per month for 10 months for your summer vacation Money Pool and prioritize each goal should you need to make any change.

There are now accounts that incorporate an investment structure and allow you to align the timing of your goals with when you need the returns. Being able to establish a higher return potential is crucial to reaching both long term and short term goals.

Payment Devices

From mobile phones to wristbands to key fobs and jewelry, there is now a vast range of contactless payment devices that can be used in place of traditional plastic cards. Most merchants in the US now accept contactless payments and consumers are enjoying it. As simple as tap and pay, advances in tech enable payment to be quick, simple, and secure. This is enhancing the customer experience and saves time in the process.

No more fumbling for your cards or cash. Brand new NFC enabled phones and wearables can connect directly to your account. What is NFC you say? It stands for Near Field Communication, it uses something called RFID that allows it to identify things through radio waves. It has been used for decades for things like scanning grocery items and luggage at airports. Going back to the king, which in this case is convenience, makes things quicker and effortless.

Payroll is Easy to Receive

Direct deposit makes getting paid that much sweeter. Being able to receive the money into your account up to 2 days early with some fintech solutions seems like a no-brainer. Here are some pros:

  • It’s fast and easy to set up
  • Your money is immediately accessible, it eliminates the risk of stolen checks and forgeries, and helps protect you from identity theft
  • Most employers support it

On top of all that, it is free! Most banks and credit unions do not charge you to sign up for direct deposit. In fact, they may waive your monthly checking account fee if you have direct deposit.

Send and Receive Money Seamlessly

Ever keep tabs on what people owe you or what you owe others? Don’t necessarily have the cash to pay back at the exact moment? With fewer people carrying cash, payback can be a real…well, you know the rest. Thankfully, technological innovations are making it easy to send money to friends, family, landlords, and more.

However, figuring out what type of payment channel the recipient accepts if you have funds in that account and what their username is can be a royal pain!  New technology provides safer ways to send money directly from your primary banking account(s) offering the recipient the ability to choose their preferred option of receiving or depositing the money.

Marigold flower field

Marygold & Co.

Enter: Marygold & Co. Now money doesn’t grow on trees, but Marygold & Co’s banking and financial services app features will make your money “flower.” That is to say that by using Marygold & Co, you’ll get the most out of your money. The Marygold & Co app gives you access to your money from the tips of your fingers. It is convenient and innovative, giving you access to many of the new features mobile banking has brought into the finance world.

As a recap, here are some of the benefits you can receive:

  • FDIC-insured accounts
  • Contactless Mastercard debit card, wearables & mobile wallets
  • Nationwide no-fee ATMs
  • Interest-earning debit & savings account
  • Pay anyone to their mobile phone or email
  • Get paid early
  • Customized security

“Managing our finances can feel overwhelming, and sometimes it even feels like financial companies want to keep it that way.  The “paradox of choice” is real – way too many options, but not enough information on how we can pick the right solution.  And then we question the financial decisions we’ve made.”

– Timothy Rooney, President, Marygold & Co. Advisory Services

Welcome to Marygold & Co.!  We are building an easy-to-access community for financial assistance, for people to learn about their finances, share their experiences, and make decisions for their financial futures – all from a mobile device!

So, Why Me, Timothy Rooney of Marygold & Co.?

What makes me qualified to assist others in reaching their financial goals? Because I’ve been building new products and businesses for large financial companies for longer than I’d like to admit!  I’ve created mutual fund businesses, exchange-traded funds, and retirement plan products, to name a few.

Why Marygold & Co.?

We want to share our experience with you to help you make knowledgeable financial decisions, so you can reach your goals. We can’t wait to get the conversation started, and hopefully provide some support to a happy, healthy, and inclusive community!

At Marygold & Co., we believe that financial decisions don’t need to be overly complicated, and it typically starts by asking a few questions about what we plan to do with our money:

  • What are the goals or outcomes we hope to achieve?
  • Should I invest or pay down debt?
  • If we’re looking to invest our money, is it a short-term or long-term investment?
  • Am I saving for a vacation next year?  To buy a car in a few years?  Or to retire – hopefully at a much younger age than my parents?

Financial Assistance with Challenges

By answering some basic questions about our goals we can remove much of the “clutter” that makes financial decisions appear to be so complex.  Complexity creates paralysis, or what large firms like to describe as inertia.  Studies have shown that when faced with a complicated financial decision we have a tendency to do nothing, afraid of making the wrong decision.

We believe there is a better way.  We want to help you break down and simplify these financial challenges.  Focus on the outcomes you want to achieve.  And tune out the clutter!

Let’s learn, share, & do our finances together! I can offer you financial assistance.

“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”

– Albert Einstein

What is F.I.R.E.?

FIRE is a lifestyle movement that grew out of the GFC (the recession of 2007-2009 called the Global Financial Crisis).  Its goal, as the name suggests, is for people to gain their financial independence and retire early.  You can see more about it on Wikipedia.

Some great people who give advice about it and that we follow are:

We know we have missed a lot of quality people and if you would like to be added to the list or have a recommendation, drop Nicole an email.

What is interesting about the movement is how down-to-Earth and full of common sense it is.  It is not a “get rich quick” scam but rather uses time-tested methods for living a good life.  Charlie Munger, Warren Buffett’s longtime partner at Berkshire Hathaway, has said, again and again, that the best way to live a long and happy life is to live beneath your means when young so you don’t have to when you are old.  Ben Franklin broke up a person’s life into three parts; getting an education, being productive, giving back.  Albert Einstein is reputed to have said, “Compound interest is the eighth wonder of the world. He who understands it earns it; he who doesn’t pays it.”

FIRE boils down to:

  • Save a lot
  • Start early
  • Be nice to others ( I added this last one)

Financial Independence Through Saving Money

One of the best ways to save money is to make sure you never see it.  Apps and savings accounts that automatically round up a credit or debit card purchase to the nearest dollar and put the extra money into a saving or investing account are an example of this.  Another good way is to pay a bit extra in money you owe for credit cards or mortgages.  Never pay only the minimum if you can.  Also, make sure to pay off your credit cards before other debts as they usually have the highest interest rates.

Once you have saved some money, invest it, and then don’t look at the balance every day.  If your money is in the stock market and the market takes a 20%+ tumble which it does every few years, you might panic and take your money out at exactly the wrong time.  As the advertising slogan for the lottery says- “You have to be in it to win it”.

Financial Independence Through Investing

Being in the stock market has historically shown to be a winner.  Since 1926, there have only been two periods when keeping your money in the S&P500 with dividends reinvested over ten years would have resulted in a loss and then, it would have only been for about 10% of your money.  Those two periods were during the Great Depression and the GFC.

If your time horizon for the use of money was 20 years, you would have never had a loss of principal.  Of course, past experience is not an indication of future returns which is why professional advice is helpful as is diversification.  But time is your friend when it comes to investing so don’t look at your account statements too often.

A long, long time ago, in a far off place called New England, there was once a traveler who came upon a small village.  He noticed someone locked in the stockade.  “What have they done?” inquired the traveler.

“He dipped into principal.”