Money Wisdom & Musings

Here's your source for thoughts and observations on all things financial (and otherwise). Topics can range from tips on your personal well being to the well being of your investments. As always, we welcome your comments and feedback.

Ribbon Cutting Ceremony

Posted by on June 6, 2016
Ribbon Cutting Ceremony

  Cornerstone held a ribbon-cutting ceremony and open house to celebrate their new offices on Union Wharf. Mayor Strimling and Joe Pickering from the Chamber of Commerce presided. Oysters on the half shell (from BP’s Shuck Shack) and Jumbo shrimp cocktail (by Vinnie Veligor) rounded out other delightful delectables provided by Foodworks of India Street. We are grateful to our many guests who…

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Day of Caring 2016

Posted by on June 6, 2016
Day of Caring 2016

Here we are at Memorial Park in Biddeford for United Way’s Day of Caring. We helped create a “learning” trail for young folks, replete with actions to support their evolving education. We love primary colors!

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Online Retirement Calculators May Fall Short

Posted by Jill Boynton on May 1, 2016

Recently a study of 36 online retirement planning tools found that most give misleading advice, often showing outcomes that are far more favorable than the results that would come out of retirement planning software used by financial planners. This could be very harmful to users who may think they are confidently on the path to retire when, in fact, they are not taking the necessary steps. The…

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Hullabaloo around a “Fiduciary Rule”

Posted by Susan Veligor on April 19, 2016

The long-awaited Department of Labor’s ruling emerged in final form last week. This ruling is for the protection of the people and their retirement savings and requires those in the brokerage world to adopt a higher standard and to act as “fiduciaries”; that is, to put their clients’ interest first. And while many investors assumed their interests always did come first, that is not the…

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Making Sense of the Market

Posted by Jill Boynton on February 5, 2016

The stock market so far this year has been up and down like a roller coaster. Year-to-date we have had 13 trading days when the S&P 500 Index was up or down at least 1% and the index is currently down about 5% for the year. Investors are feeling a bit whipsawed, and worried about their portfolios. Yet are the current market movements really so crazy? A relatively tranquil market since the 2008…

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New Year; New Goal

Posted by Susan Veligor on January 4, 2016

The start of the New Year generally breeds great energy and enthusiasm for tackling ones goals. How about getting your estate documents in order for 2016? The term “Estate planning” sounds big and complicated and probably for rich people, right? Actually estate planning is applicable for everyone including college students, young families and on through the ages. It merely means that you have…

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New Maine Law to Combat Identity Theft

Posted by Mackenzie Arsenault on December 17, 2015

With the holidays upon us and online shopping in full force it is good to remember one step that can help protect your identity – freeze your credit. A credit freeze prevents companies or individuals from accessing your credit report. This prevents new lines of credit from being issued in your name i.e. loans or credit cards. Any consumer can place a freeze on their credit by contacting each of…

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Year-end Planning

Posted by Susan Veligor on October 28, 2015

With only 2 months remaining in 2015, anyone participating in an employer-sponsored retirement plan should evaluate their contributions year to date and confirm 1 or 2 items. First, if you intend to fully maximize the amount you can defer to your 401k, 403b or SIMPLE IRA, check that deductions from your wages over the next 8 weeks are sufficient to meet this goal.  2nd, be sure to space out…

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You can’t get there from here

Posted by Mackenzie Arsenault on October 16, 2015
You can’t get there from here

As a financial planner I am often asked ‘Any hot stock tips’? The answer most days is no. This encourages me to remind people ‘why’ they are investing and to put less focus on the actual investment or the daily market activities.  Carl Richards depicts this quite nicely. Investments are important but first you need to figure out where you want to go (the plan): what is most important to…

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The Value of A Financial Advisor

Posted by Jill Boynton on September 1, 2015

Great article posted today on Marketwatch.com on the value of using a financial adviser. When the market gets tough we're here to hang on to!

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