Cortburg Speaks Retirement

Establishing Good Credit in College

November 25, 2020 Miguel Gonzalez, MBA, AIF®, CPFA®, CRC® Season 2020 Episode 11
Cortburg Speaks Retirement
Establishing Good Credit in College
Weekly Educational Update
Week on Wall Street
Weekly Tax Tip
Healthy Lifestyle Advice
Green Living Idea
Quote of the Week
Cortburg Speaks Retirement
Establishing Good Credit in College
Nov 25, 2020 Season 2020 Episode 11
Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®

Cortburg Speaks Retirement

Cortburg Speaks Retirement / Investment in Stock Market, Financial Planning, Retirement Planning, Money Management

1.Educational Update = Establishing Good Credit in College
 2. Week on Wall Street

3.Tax Tip =  End of Year Tax Tips

 4.Healthy Lifestyle Advice = Healthy Holiday Eating (Part 1)

5.Green Living Idea =Have a Green Thanksgiving

6. Quote of the Week

Show Notes Transcript Chapter Markers

Cortburg Speaks Retirement

Cortburg Speaks Retirement / Investment in Stock Market, Financial Planning, Retirement Planning, Money Management

1.Educational Update = Establishing Good Credit in College
 2. Week on Wall Street

3.Tax Tip =  End of Year Tax Tips

 4.Healthy Lifestyle Advice = Healthy Holiday Eating (Part 1)

5.Green Living Idea =Have a Green Thanksgiving

6. Quote of the Week


Welcome to Cortburg Speaks Retirement

An audio podcast about investing in the stock market, financial planning, money management and retirement planning.  Each Wednesday, we help investors at all stages of life learn how to grow and preserve their money from first job through retirement.

Now here is your host, Miguel Gonzalez.



Hello and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.   On this episode, I am going to help you establish good credit in college, review last week on Wall Street and end-of-year tax tips.  With Thanksgiving right around the corner, our weekly healthy lifestyle tip is about eating healthier during the holidays and how to be more green during Thanksgiving.


 1st – weekly educational update
Establishing Good Credit in College

Good credit may open doors. It is vital to securing a loan, a business loan, or buying a home. When you establish and maintain good credit in college, you create a financial profile for yourself that can influence lenders, landlords, and potential employers.

Unfortunately, some college students do not have good credit. In fact, Credit Karma says that the average 18-to-24-year-old has a credit score of 630. A FICO score of 730 or higher is considered good.[i]

What are the steps toward a good credit score? To start, you need to utilize credit. About 15% of your credit score is built on the length of your credit history, so the sooner you purchase goods and services with a credit card and pay off that debt, the sooner you create a record of credit use.1 

Aim to reduce the balance to $0 every month. Does this sound like a challenge? It may not be if you just use a credit card to purchase everyday things. When you start splurging with a credit card, paying off the balance in full can become a problem.1

Pay your credit card bill on time. Roughly 35% of your credit history develops from your pattern of payments: how on time they are, how late they are. One approach to consider is scheduling automated payments from your bank account, schedule reminders, or just try to pay the bill as soon as it arrives.1 

Refrain from applying for 2-3 credit cards at once. About 10% of your credit score reflects your history of credit inquiries, so if you suddenly apply for another 2-3 cards, you could hurt your score.1 

Another potentially bad move is jumping from card issuer to card issuer – that is, getting a card, then closing that credit card account and opening a new one after a few months because you find another credit card with better perks. In doing this, you end up giving yourself a shorter credit history per credit card account.1

What if you have problems getting a traditional card? If you have no income, you might run into this – or, there might be other reasons that make it hard for you to qualify for one. If this is the case, consider going to the bank or credit union where you have a savings account and applying for a secured credit card. With these types of cards, you transfer some money into an account linked to the use of the card, and that amount represents your credit card limit. You can also ask to become an authorized user on a credit card held by one or both of your parents.1 

You can potentially help your credit score in other ways. Consistent bill paying is a plus for your credit history. If you do become an authorized user on a parent’s credit card and they use credit responsibility, just being linked to that account history could help your credit rating. If you are living off campus, you might end up co-signing a lease so make certain you understand you and your roommates’ financial obligations. Financially negligent ones could hurt your credit rating if, for example, you are sharing utilities costs. With financially trustworthy roommates, you may avoid that kind of credit score damage. Lastly, if you move while in college, be vigilant about having your bills forwarded to you, to avoid missing payments.1  


2nd – Week on Wall Street

Despite news of another COVID-19 vaccine candidate, stocks were mixed amid investor anxiety over an increase in new infections and economic lockdowns.

The Dow Jones Industrial Average fell 0.73%, while the Standard & Poor’s 500 declined 0.77%. The Nasdaq Composite index rose 0.22% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 1.42%.[ii],[iii],[iv]

Groundhog Week

The announcement of another potential COVID-19 vaccine ignited strong gains to begin the week. But, like the week that preceded it, the gains sparked by the vaccine news were eroded in the following days as worries over the economic impact of new infections moved to the fore.  

The market has been grappling with conflicting narratives. One is the optimistic view that, with COVID-19 vaccines apparently near at-hand, the return to economic normalcy grows ever closer.  That hopeful outlook has been offset by anxiety over new infections, rising hospitalizations, and some local and state lockdowns.

These crosscurrents kept stocks range bound for the week, with the technology sector and small and mid-size stocks lending support to the overall market.

Powell Sounds a Warning

In a speech last week, Federal Reserve Chairman Jerome Powell warned that the nationwide increase in COVID-19 cases could hamper economic activity in the upcoming months. He expressed concern that consumer spending may trend lower despite efforts to control the spread of infections.[v]

Powell once again voiced his support for additional fiscal stimulus to assist small businesses, state and local governments, and the unemployed. He also said that even after full economic recovery, some businesses and workers may wrestle with an economic landscape altered by the coronavirus.



Tuesday: Consumer Confidence.

Wednesday: Durable Goods Orders, Gross Domestic Product (GDP), Jobless Claims, Consumer Sentiment, New Home Sales.

Source: Econoday, November 20, 2020

The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.



Tuesday: Best Buy (BBY), Medtronic (MDT), Dollar Tree (DLTR), Dell Technologies (DELL), VMware (VMW), Analog Devices (ADI) 

Friday: Deere & Company (DE)

Source: Zacks, November 20, 2020

Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.


3rd – weekly tax tip
End-of-the-Year Tax Tips

With all the hustle and bustle of the holidays, taxes are likely the last thing on your mind. You have until April, right? Well, there are a few end-of-year tips that you should get ahead on now to save yourself time (and money) come April. 

●       Donate stock that has appreciated in value - You can donate stock that has appreciated in value that you’ve had for at least a year. This can result in significant income tax savings. Also, donating stock saves you more on taxes than donating cash because there’s no capital gains tax when these stocks are given to a nonprofit. You also save on future capital gains taxes. 

●       Increase your 401(k) contributions - You’re allowed to contribute up to $19,500 this year if you’re under 50 and $26,000 if you’re 50 and older, and contributing more to your 401(k) by the end of the year means that you will have a lower income tax. This is especially beneficial if you’re between tax brackets. 

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from Kiplinger[vi]


4th – healthy lifestyle advice
Healthy Holiday Eating: Part 1

With Thanksgiving right around the corner and Christmas close behind, it’s that time of year to think about healthy holiday eating. It seems like everywhere you turn there’s a dessert tray, beautiful spread, or cocktail waiting to be enjoyed. During the holidays, it’s important to enjoy yourself and spend quality time with friends and family, but not overindulge. These tips can help!

●       Budget wisely. If you think about calories like a budget, you’ll better understand when to splurge and when to save. If you have a dish you absolutely love, save your calories and indulge in the dishes you really enjoy. 

●       Distance makes the stomach grow stronger. If you’re at a holiday party, try not to position yourself right next to the food station. Standing too closely to a display of delicious holiday delights makes it easier to mindlessly eat. Instead, stand farther away and make a trip to the food only once or twice, filling most of your plate with healthier choices (like fresh fruit or raw vegetables) and only a couple small treats. This extra effort will help you to not overeat. 

We’ll have more holiday eating tips coming your way in the next few weeks!

Tip adapted from Harvard Medical School[vii]


5th – Green Living Idea
Have a Green Thanksgiving

This Thanksgiving, think about the environment when you prepare your meal and have people over. Here are some tips on how to reduce waste, energy, and resources needed:

●       Use reusable dinnerware instead of disposable options.

●       Purchase the food locally when possible, and choose organic options when available. By using mostly local food, you reduce the energy needed to transport food. Plus, locally grown produce and meat tastes better!

●       Speaking of meat, eat less of it when possible. The meat industry is the number one source of methane gas in our environment, and eating less meat can have a positive environmental impact in many ways. 

●       Get outside and enjoy the beautiful outdoors. This holiday is all about giving thanks, so step outside and show gratitude to Mother Nature for all her beauty. Even if you’re in the heart of the city, a walk outside does the body good. 

Tip adapted from Harvard University[viii]


6th – quote of the week

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” 

- Oprah Winfrey


Make sure to visit our website,  Our site is filled with educational videos, eBooks, publications, and financial calculators designed to help you learn more about your finances.  As you search our site, send us a note regarding any questions you may have about any particular investment concepts or products. We will get back to you quickly with a thoughtful answer.

This is Miguel Gonzalez, Retirement Specialist and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational update.  



Opinions expressed are subject to change without notice and are not intended as investment advice or a solicitation for the purchase or sale of any security. Please consult your financial professional before making any investment decision. 

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

CRC conferred by The International Foundation for Retirement Education.

Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Private Advisor Group, LLC, a registered investment advisor.  

Private Advisor Group, LLC and Cortburg Retirement Advisors, Inc. are separate entities from LPL Financial.

Investing involves risk including possible loss of principal.

[ii] The Wall Street Journal, November 20, 2020
[iii] The Wall Street Journal, November 20, 2020
[iv] The Wall Street Journal, November 20, 2020
[v], November 17, 2020

Weekly Educational Update
Week on Wall Street
Weekly Tax Tip
Healthy Lifestyle Advice
Green Living Idea
Quote of the Week