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.
Disclaimer: Our blog posts are for informational purposes only and are not to be considered investment, tax, or financial advice. Cornerstone does not and cannot guarantee the accuracy or applicability of any information presented in our blog posts regarding your individual circumstances. Please review your personal situation with your tax and/or financial advisor.
Last week we took an opportunity to step away from our desks, enjoy a sunny afternoon and attend the 10th annual Purses with Purpose event. If you aren’t familiar with the organization, Purses with Purpose is a charity auction event primarily consisting of donated purses from which proceeds go to the Ronald McDonald House. This year the event was held at the Woodlands Club in Falmouth, Maine and…Read More
There is an old saying in the stock market, “Sell in May and go away”. This adage implies that the markets underperform during the summer and you will have better long-term returns if you stay out of the stock market. There is some merit to the saying, according to the website Seeking Alpha (www.seekingalpha.com). The stock market has declined from May to October in many years. But when they…Read More
Last Tuesday I had the pleasure of attending the 37th Annual Meeting for Coastal Enterprises Inc. (CEI). CEI, located in Wiscasset Maine, lends money and support to businesses in Maine and New England. Their philosophy was inspired by the civil rights movement and their mission is “to help create economically and environmentally healthy communities in which all people, especially those with low…Read More
Cornerstone Financial Planning, a fee-only financial planning and investment management firm, announced that today marks their 11th year of helping people achieve their financial goals. Susan Veligor and Jill Boynton joined forces back in February 2004 to found Cornerstone Financial Planning. Since then the company has grown to five employees over their two offices in Portland, Maine and…Read More
Its winter and we should all be prepared for snow, but this winter has been a record-breaker! And it isn’t over yet. While you’re shoveling your walkway for the hundredth time keep in mind that the heavy amounts of snow that have fallen over the past couple of months could be damaging to homes and cause financial trouble. Ice dams prevent proper drainage of snow and water from the roof. …Read More
Susan, Mackenzie and I spent 3 days last week honing our life planning skills at the Money Quotient workshop they hosted in Portland. What is so fascinating about life planning is the relationship between our rational brain and our emotional brain. The neocortex, where we process data and make rational decisions, is separate from the limbic brain, which drives our emotional behaviors and…Read More
This is the time of year to think about gifting to your favorite charity or charities using stock or mutual funds you own that if sold would create an income tax liability to you. By giving directly to a charity you receive a deduction for the full value of the gift and bypass any tax you would otherwise owe if you had sold this stock or mutual fund yourself. At Cornerstone we donate 1% of our…Read More
I read a sports blog today where, for the first time in my experience, someone actually suggested the Patriots might want to trade Tom Brady. I’m a loyal Pats fan, but I (who professes no great knowledge of football) have had that thought in the back of my mind for a while now. I’m sure many Patriot fans will be incensed at the thought of it. “What?! Trade Brady? No way!” He’s been an…Read More
The New York Times reported last week that the Rockefeller Brothers Fund, which is the Rockefeller family’s $860 million charitable organization, will divest itself of fossil fuel holdings following a movement that began on college campuses two years ago. The Rockefeller brothers amassed much of their vast wealth from The Standard Oil Company which they co-founded back in 1870.Read More
Last Thursday night I attended Down East Magazine's 60th birthday party. This wasn't any old birthday party, the magazine partnered with six Maine artists and were able to raise $60,000 for six Maine organizations. The list included The Locker Project, a Community Partner of The Good Shepherd Food Bank, Colby College Museum of Art, North Haven EMS, MECA Scholarship Fund, Maine Organic Farmers and…Read More