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The Power of Gifting

The Power of Gifting

With Christmas just a few days away, it’s probably not a stretch to think that you may have last minute Christmas shopping on your mind. With gifting in mind, we want to quickly outline some of the benefits of investment-related gifting.

First of all, financial gifting can have both positive financial and also internally gratifying results. Gifting can be a great estate planning tool that allows you to transfer your wealth to others during your lifetime.

Another great part of gifting is that you can see the gift put to good use. Some of the non-tax related benefits include the joy of being able to see your recipient enjoy your generosity. This may be helping a child or grandchildren gain financial independence, or it could be seeing your favorite local charity put the funds to use to help those in need.

Another benefit is that you control the distribution of your property. You express how you want your property distributed after your death by executing a will. However, since you won't be around to see what actually happens (for example someone may disclaim your gift), you won't be able to react to any change in circumstances. Lifetime giving allows you to adjust your gifts to changing circumstances and, at the same time, provides the most control over how your estate is distributed.

One of the major financial benefits of gifting is the gift tax exclusion. The annual gift tax exclusion is a federal exclusion that allows you to give $14,000 in 2014 per donor to an unlimited number of recipients/charities/organizations without incurring federal gift and estate tax.

There are many advantages and benefits to gifting. Some are gratifying while others are financially beneficial. As you make your gifting plan, remember the true meaning of the season!

From all of us at Financial Concepts, we wish you and your family a very Merry Christmas!

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Cyber Security

October is synonymous with fall, Halloween, and more recently Breast Cancer Awareness, but what many don’t know is that October is fast becoming Cybersecurity Month.

With the internet becoming more prevalent worldwide in the last decade, it’s important for everyone to be secure when accessing the internet. There are many different ways your computer may be targeted. From using a credit card to purchase things from your favorite store online, to accessing the internet at the airport, there is potential for your computer to be targeted.

Most computers hold copies of important and private documents. Personal documents such as bank statements, birth certificates, and even something as innocent as your daily calendar can be useful to a person with malicious intent.

But don’t fret! There are some very simple, inexpensive ways to protect yourself against a cyber-break-in.

  • Use a prepaid debit card for online transactions
    • If there were a security breach and the prepaid card number was stolen, there would (ideally) be nothing left for them to take. If it were your personal debit card number, they would gain access to your entire account.
  • Invest in malware protection for your personal computer
    • In many cases, your local computer store or shop will have great recommendations for which malware protection software to buy based on your type of computer and what you use it for.
  • If you keep a calendar on your computer, keep it somewhat vague
    • Do this in whatever way works best for you. If you keep a calendar for meetings, try imputing either the first or last name of the person you’re meeting instead of both. Keep locations out of the description. If this isn’t possible, try investing in a password protected calendar.
  • Set a lock screen on your cell phone
    • Your phone holds lots of personal information, from text messages and emails, to the personal contacts of family and friends. Most lock screens employ a four digit passcode. This will deter someone from breaking into your phone and accessing your personal info.
  • Once you’re done with a site, log out
    • This will lessen the time window for someone or something to access your page. Even something as innocent as social media contains sensitive information. The security questions for lots of sites ask for your mother’s maiden name, first pet etc. Many times, this information is readily available to someone looking at your social media profile.
  • Never accept a free USB or device charger (cell phone, laptop, tablet etc.) from a stranger
    • This could be an attempt to gain access into your devices and corrupt your files.

For more information on this topic on protecting yourself visit or

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Financial Concepts is a registered investment adviser located in Columbus, MS. Financial Concepts may only transact business in those states or countries in which it is registered, or qualifies for an exemption or exclusion from registration requirements. For non-clients of the firm, Financial Concepts’ web site is limited to the dissemination of general information pertaining to its investment advisory services.

Please contact Financial Concepts at 662-327-1480 to find out if we may conduct advisory business in the state or country where you reside. Accordingly, Financial Concepts does not, and will not, effect or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, through this website. Any subsequent, direct communication with a prospective client shall be conducted by a Financial Concepts representative who is either registered or qualifies for an exemption or exclusion from registration in the state or country where the prospective client resides.