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.
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 MoreThis 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 MoreI 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 MoreThe 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.
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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 MoreDid you ever think reading about economics could be fun? (Probably not, or you’d be in our line of business!) Economist Steven Levitt and author Stephen Dubner have done just that with their 2009 book “Freakonomics: A Rogue Economist Explores the Hidden Side of Everything” (followed by “Super Freakonomics” in 2011.) When a book tackles topics like “Why a prostitute makes more money…
Read MoreThe issue of income disparity among workers and the unequal distribution of wealth in general in our country is highlighted in the news these days. Bill Nemitz of the Portland Press Herald recently wrote an encouraging piece about Maine shoe store chain Lamey Wellehan, where the average hourly wage of its 100 employees is $15, exclusive of other benefits provided. Owner Jim Wellehan has a video on…
Read MoreA recent study by Experian Consumer Services indicates that credit scores were important when choosing a mate for half of married adults. 95% of participants rated “financial responsibility” more important than “career ambition” or “physical attractiveness.” The survey shows that, when asked about the importance of having similar goals, financial compatibility ranked higher than sex…
Read MoreNot sure what to get the person who has everything? Try giving a Charity Gift Card, it works like a gift card but instead of purchasing items in stores, the recipient 'spends' the card online by selecting from 300+ charities. Visit TisBest.org for more information.
Read MoreA recent article in the Wall Street Journal reported on big banks maneuverings around the pending “bank swaps” regulation. Swaps are derivative instruments whose purpose is to transfer risk to a third party. The new regulation is intended to make swaps activity more transparent and to protect the US financial system from banks amassing huge derivatives positions in non U.S. markets. The…
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