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.

US Markets are Bracing For a Downturn

Posted by on August 24, 2015

Written by Jill Boynton August 24, 2015 As you may be aware, US markets are bracing for another downturn this morning, following last week’s steep losses. “Corrections,” defined as a loss of 10% in the broad stock index, generally occur about once every 18 months or so; the last time we experienced this was 4 years ago! The primary culprit is the Chinese stock market, which has been in a…

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Car Buyers are Taking Longer Loans

Posted by Jill Boynton on August 13, 2015

A recent article in the Wall St Journal pointed out that auto loans with a term of 73 to 84 months (6-7 years) made up about 30% of all new vehicles financed in the first quarter of 2015 according to a report by Experian Automotive. Just 5 years ago they made up only 9% of auto purchases. That helped bring up the average term for new car loans to 67 months. Five years ago that number was 62 months…

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An Afternoon with Purses with Purpose

Posted by on June 12, 2015

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…

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Sell In May and Go Away?

Posted by Jill Boynton on May 12, 2015

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 ( The stock market has declined from May to October in many years. But when they…

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Another Way to ‘Buy Local’

Posted by Mackenzie Arsenault on March 12, 2015

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…

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Celebrating our 11th Year Anniversary

Posted by on February 13, 2015

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…

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Heavy snow could mean financial trouble

Posted by Jill Boynton on February 12, 2015

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. …

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Financial Life Planning

Posted by Jill Boynton on December 17, 2014

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…

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Charitable Giving

Posted by Susan Veligor on November 24, 2014

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…

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Posted by Jill Boynton on October 2, 2014

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…

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