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.

New rules for Flexible Spending Accounts

Posted by Susan Veligor on November 5, 2013

This is the time of year employees generally elect how much of their 2014 wages will be deferred to their employer-provided Flexible Spending Account (FSA.) It is always a challenge to estimate just how much of this tax-deferred money one will actually use throughout the year and under the old “use it or lose it” policy therewas a risk of forfeiture. The new rule that rolled out with the…

Read More

Sharpening my knowledge as a divorce financial planner

Posted by Jill Boynton on September 25, 2013

Last week I attended the Association of Divorce Financial Planners (ADFP) 11th annual conference in Chicago. The ADFP is an interdisciplinary association whose members work on behalf of their clients to research and analyze personal, business and tax issues related to divorce. We explain financial options, help set priorities and lead our clients through the hard choices they face in a…

Read More

Senior year of high school can be costly

Posted by Jill Boynton on September 11, 2013

We all know college can be expensive, but did you ever consider the cost of your child’s senior year in high school? One of our colleagues did, and she was astonished at the total bill! Between SATs, college admissions, proms and parties your senior can cost you a bundle. See her article here.

Read More

Sound advice for young adults

Posted by Jill Boynton on August 27, 2013

I recently came across a good financial planning book for young adults. “Coin”, by Judy McNary, goes over the basics of money management from learning to live within your means to paying off debt. It is geared towards the recent college graduate who is now out on their own for the first time, but could be useful for college students too. The book starts with a discussion on goal-setting and…

Read More

Is Gold a Good Investment?

Posted by Jill Boynton on July 29, 2013

Interesting article in last Sunday’s NY Times about investing in gold. The author notes that over the long-term gold has barely kept pace with inflation, earning an inflation-adjusted return of about 1.1% from 1836 to 2011. In comparison you can expect to earn 1.0% from Treasury Bills, 2.9% from long-term bonds and 7.4% from stocks over “the long term” (although it appears these returns are…

Read More

Simple Thoughts

Posted by Susan Veligor on July 10, 2013

With the (seemingly always) bad news that daily comes across the wire – exploding oil-filled derailed train cars, plane crashes, Mid-East strife – it is refreshing and smile-producing  to see a recent Portland Press Herald headline: “Readfield sues man again over cows in roads”. The Town of Readfield is 15 minutes west of Augusta (host to our turmoil-ridden legislature ever at arms with…

Read More

World Elder Abuse Awareness Day

Posted by Jill Boynton on June 14, 2013

June 15th is World Elder Abuse Awareness Day. First launched in 2006, its purpose is to raise awareness of the abuse, exploitation and neglect of older individuals by people they trust. Elder abuse happens across all races, ethnicities, social and economic circumstances. A recent study indicates 11% of seniors have experienced neglect or abuse in the past 12 months. One of the most common methods…

Read More

The Ubiquitous Television Screen

Posted by Susan Veligor on June 7, 2013

We long ago gave up our right to silence in doctors’, dentists’, and hospital waiting rooms. As if the varied array of magazine publications aren’t distraction enough. Recently while in Massachusetts my daughter and I stopped to fill the gas tank in the lovely and picturesque town of Groton. I have long lamented the loss of full service stations to begin with (my father, ever the gentleman,…

Read More

On Fairness

Posted by Susan Veligor on May 21, 2013

I rarely mind waiting for service at the grocery store or bank or even while corralled in the airport body check queue; that is until someone comes along after me and by luck selects a faster moving line and finishes up first. What rankles many of us in such a situation, surveys indicate, is the distinct experience of unfairness – it isn’t so much about the wait as it is about equality. We…

Read More

A Bedtime Novel

Posted by Susan Veligor on May 21, 2013

We read over the weekend that the US Tax Code is nearly 4 million words strong. Being how we like numbers we calculated how long it would take to read this tome. The average adult reads 300 words per minute; 4 million divided by 300 equals 13,333 minutes. If you read every day for 8 hours it will take 1,667 days or a little more than 4.5 years! Hmmm . . . most of us can probably think of 4 million…

Read More