Business & Finance

Books for Kids on Money

Updated 11 months ago

By- Marion Syverson Berenstein Bears – “Trouble with Money”, “Dollars and Sense” and “Think of Those in Need” are three of the Berenstein Bears series of books that teach children (suggested ages 4- 8) about a variety of ways to understand the topic of money. Those familiar with the series may know that other titles such as “The Trouble with Chores”, may also tie into the money lesson. Cat in the Hat- This series called The Cat in the Hat Learning Series includes the title, “One Cent, Two Cents, Old Cent, New Cent” (suggested ages 4-8)  and explains the history of money, bartering, currencies, banking and paying interest. The Everything Kids Money Book- For ages 9-12 this book with games and simple graphics, explains a plethora of money subjects such as minting coins, coin collecting, banks, interest, allowances, borrowing, practicing charity and how to shopping a sale. Since books of this kind are generally not big sellers local outlets seldom have them readily available. But they can easily be ordered. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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Deb Newman Talks about Fusion Marketing

Updated 11 months ago

On a recent vacation I was shopping downtown and made a purchase at a retail store. When I checked out the owner gave me a coupon for 10 % off several other downtown businesses and suggested why they were great places to visit. It worked! I went right next door and enjoyed a great lunch for 10% off and visited a gallery I hadn’t planned to visit! This practice of businesses sending customers to each other is called Fusion marketing. Here are tips for making fusion marketing work for you…One – Identify businesses that share the same customers as you but who aren’t in the same business as you. Examples include stores, restaurants and museums partnering, landscapers with builders, wedding photographers with florists and so on. Two – Determine what each participating business will offer the customers.Three – Write up a simple agreement between the partnering businesses that states what role each will play and what they will offer.Four – Develop marketing materials to promote the program benefits to customers.Five – Combine customer mailing lists with your partners and get the word out via email, the web, word of mouth and flyers.In today’s economy fusion marketing is a great way to work collaboratively with other businesses to bring business to both your doors at little or no cost.Try it and see what happens!I’m Deb Neuman for WABI TV5 News

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Kids, shopping and learning about money

Updated 11 months ago

When I was a kid and the family would drive by a school- any school- I would hold my breathe until we’d pass it. It wasn’t learning that bugged me, it was the routine of school. But it’s getting to be that time again: time for school shopping. We’ve talked before about helping kids learn about money by giving them budget information so they can take an active role in making purchasing decisions. They will also learn about every family’s finite school budget. Don’t think they will be traumatized by the information. They will be empowered and will prioritize what item of clothing or technology really deserves a higher level of expenditure. Spending is becoming the activity of choice among kids- Born to Buy, by Juliet B. Schor, compiles some alarming trends with kids and shopping. American kids, according to Schor, believe ‘that their clothes and brands describe who they are and define their social status.’ She goes on to state that, ‘Children’s social worlds are increasingly constructed around consuming.’ (Emphasis mine.) Schor cites data compiled in 1997 showing how kids spend their time. Kids – ages 6 – teens- spend about 2.5 hours shopping per week. That is many times what they spend per week in art, talking to family, reading, outdoors, and studying. It is also more time than they spend in religious activities. (Younger children spend even more time shopping.) Kids might know a lot about stores and ‘cool brands’ but they have little idea on how much money is available for school shopping and how that compares to the long list of things they want. Just a reminder, don’t take any griping about the size of the shopping budget as a personal insult. Kids may whine about a lot of things, it doesn’t mean anything personal. Here are a few ideas for helping kids learn about money during school shopping trips: Have a shopping strategy- talk about the size of the budget before you head out to the stores. Use the internet or store fliers to get an idea of the prices of hoped-for items. Prioritize- How many outfits can be made from the separates you’re planning – or thinking- of buying? Go to the library, or check the internet, or have a fun day with friends making new outfits from just a few pieces of clothing. Be Sensitive- It is the culture of kids to feel that their WORTH comes from the brand. It is not correct that they feel this way, but they feel this way regardless. Help them know that their worth is intrinsic. Juliet B. Schor, Born to Buy, page 13 Schor, pg.11Schor, pg. 30 Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2009 by Market Surveys of America —————–In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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1 Minute Business Tips – Reducing Procrastination

Updated 11 months ago

A recent study conducted by a Professor at the University of Calgary indicates that we’re procrastinating more than we used to. The study shows that back in 1978 -fifteen percent of us were guilty of it. Today that number is more like sixty percent. If you find you’re among the many saying “I’ll do it later” here are five tips to help you step procrastinating and get it done now!One – Tackle the hardest things you have to do first thing in the day. That way they won’t be nagging at you and you’ll feel better knowing it’s done and out of the way.Two – Schedule time on your calendar to take care of a task you’ve been putting off and only focus on that task until it is done.Three – Post reminders everywhere. A post it note by the front door, on your fridge your laptop or dashboard will not only remind you about something you need to do but all those notes may annoy you enough to get it done!Four – Enlist support from others. Ask a friend, partner or colleague to remind you about a task you need to get done. A little peer pressure can go a long way in reducing procrastination.Five – When you accomplish that task you’ve been putting off. Reward yourself! Chocolate ice cream can be a great motivator to get something done that you’ve been putting off!I’m Deb Neuman for WABI TV5 News

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Online Budget Tools

Updated 11 months ago

I recently received a question from a client about tools to help her daughter figure out her budget. Here are some online tools to help. Mint- is a popular, free tool that links your investments with your checking accounts and bills to help you see how you are doing on spending and savings goals. The service is free because sponsors pay for the privilege of selling you on a cheaper mortgage, higher interest rate savings account, etc. Those sponsors don’t have direct access to your info, but Mint interacts with you on their behalf suggesting cheaper loans. The service is free and confidential. Buxfer – also free and a direct competitor with Mint, Buxfer has a secret storage place using Google to help you feel even safer. It does the same things with some interesting add-ons such as Twitter and is also iPhone accessible. There are several other online services available as well as Excel-compatible programs. Not much work to have a good vision of your finances. Being organized saves money! Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial, Wall Street Financial Group, Inc. and all other companies listed herein are separate entities, independently owned and operated.

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1 Minute Business Tips – Risk

Updated 11 months ago

There is one four letter word that every entrepreneur is familiar with – that word is risk!The key to success as an entrepreneur isn’t necessarily having a high risk tolerance – it’s more about having confidence in your ability to manage risk and being flexible enough to handle challenges. To assess your ability to manage the risk associated with starting or expanding a business ask yourself these 5 questions.One – Are you confident your business will succeed? Have you conducted the research necessary to determine if a market exists and that you can you compete with your competition? Two – Are you able to adapt to change and persevere if things don’t go exactly as planned? Three – What do you stand to lose if the business fails and are you willing to risk that? This could include money, personal and business assets, even relationships.Four – If you have a family, consider how they will tolerate the risk and challenges associated with operating a business.Five – Does taking risk thrill you or scare you to death. If you know it will keep you up at night with worry – you might want to reconsider.Risk can be a very good thing. Great rewards can come to those who take risks. Keep in mind that most successful entrepreneurs take calculated risks not foolish ones. I’m Deb Neuman for WABI TV 5 News

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1 Minute Business Tips – Doing Business Internationally

Updated 11 months ago

Many businesses in Maine are doing business internationally. If you are planning to travel overseas to conduct business there are things you should know and do to insure that your business trip will be a successful one. According to my friends at the Maine International Trade Center here are some things to know before you go First – what is considered appropriate business attire in the country you plan to visit? You don’t want to show up wearing khakis and a shirt in a country where appropriate business attire is a suit and tie. What is considered a proper greeting in the country you will be visiting? Handshakes are universally acceptable but touching is not. While a friendly pat on the back may be acceptable in the US it may be considered a violation of personal space in other countries.Don’t assume or be presumptuous in thinking that everyone speaks English. Take the time to learn some words and phrases in the language of the country you are visiting. Your hosts won’t expect you to master their language but you will win their respect for making the effort.Another great business tip for traveling overseas is to create a business card with your contact information in English on one side and in the language of the country you will be visiting on the other and present the card with the language spoken facing your recipient.For more tips and advice when doing business internationally – contact the Maine International Trade Center at www.mitc.comI’m Deb Neuman for WABI TV 5 News

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1 Minute Business Tips – Evaluating a Business Idea

Updated 11 months ago

EVALUATING A BUSINESS IDEA:I got a call a call from a viewer asking me to help him decide which business he should start. He had about ten very different ideas and hoped I would instantly know which one he should pick. My answer to him was I can’t tell you that but I can tell you how you can decide that for yourself.And here’s how…First of all narrow down the business ideas to those that you are the most excited and passionate about. Be sure you understand all of the duties and responsibilities required to successfully run the business and decide if it’s something you really want to do. Next ask yourself which idea is the most feasible. How much money will it take to start up and do you have it or can you access it? What skills are necessary to run the business and do you possess those skills or can you acquire them? Do you have or can you find the right location suitable for your business idea?Third and really the most important question to ask yourself when evaluating a business idea is this – is there a market? Will people pay you money for the product or service you will offer. You also need to determine if the business can be profitable by estimating your expenses and projected revenues.Having many great ideas for a new business is a very good thing but it can be challenging too. By applying these questions to your ideas you can better determine which idea is the one most likely to bring you success!I’m Deb Neuman for WABI TV 5 News

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How’s the Economy

Updated 11 months ago

Jobs- Increasing unemployment numbers continue to weigh on markets and on employers. Even if business is good for us we perceive news reports as more indicative of how things are really going. Unemployment figures are lagging indicators, which means that even as other areas of the economy recover job losses may continue to rise. Oil- Oil prices which had gotten a bit over $70 a barrel dropped to below $65 a barrel because of concerns that if folks are out of work they won’t travel as much, there will be a lower demand for oil. That matters to us as consumers, because we like low oil prices. But local employers, such as Cianbro, who are developing oil refinery rigs, have potentially more work when oil prices are higher and the risk of development is rewarded with higher profits. Housing – Figures for Maine are mixed with May sales for Penobscot county up. Figures statewide show sales over a three-month period declining. Prices also continue to drop but they are down by 12% over March, April and May. What does it all mean? Things aren’t great, but they aren’t continuing to nosedive. They seem to be more stable. Be cautious and steady in your finances. Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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Creating Financial Independence

Updated 11 months ago

Here are some tips on creating a life that allows you Financial Independence! Marry a true partner- Peace at home and unity in making big decisions will simplify your life and save you money. Respect each other. Never be a bully. Being a bully means you are pushing through a decision that isn’t one that your loved one agrees with but you force it on them. Not good. Life’s not about the money- True happiness isn’t a life filled with possessions. True happiness is found in loving others. Stop collecting expensive things to fill your life. That means being smart about spending on your house, car, and other possessions. I have beautiful things, but I didn’t pay a lot for them. Debt- If you are not working to live, but because you HAVE to take a job you don’t like or one that has too much pressure just to pay your bills and debt, you’ll soon see the wisdom in having – or paying off your debt. Having lower expenses or less to no debt allows you to have a job that you enjoy. Start saving- Just the discipline of saving $5 a week will be rewarded. We’ve all read about folks with simple jobs who squirreled away small amounts of money that added up over time to provide a surprise inheritance. Monthly bills aren’t a stress-filled event when you live a bit more simply. Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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1 Minute Business Tips – Collecting Debts

Updated 11 months ago

It’s likely that at this very moment – someone owes you money! I’m hearing from many business owners that one of their greatest challenges in today’s economy Is collecting receivables. Here are some tips to help you reduce your receivables and collect more of the money that is owed to you.One – Start by reviewing how much credit your business has extended to customers and how that’s impacting your cash flow. You may want to renegotiate some of your terms with existing customers and limit the credit you extend to new ones.Two – When offering discounts to customers who pay early write on the invoice the actual dollar amount they would save rather than a percentage. For example if you pay by September first you owe one hundred dollars – by September thirtieth one hundred and twenty dollars. Seeing actual dollar amounts greatly improves the chances your customers will pay you sooner rather than later.Three – Be willing to negotiate a payment arrangement with slow paying customers who are good customers. Collecting something is better than nothing and it creates goodwill with good customers who may be experiencing temporary cash flow set backs.Four – Bill often. Rather than billing once a month – establish a payment schedule with the customer from the beginning that’s based on certain milestones or deliverables and bill accordingly. Staggering your billing among many customers will help to improve your cash flow.And finally if you’re slow paying your bills because others are slow paying you contact the people you owe money to and discuss a way to resolve the situation. They’ll likely be more willing to work something out with you if reach out to them first.I’m Deb Neuman for WABI TV 5 News

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Secrets of Millionaire Women

Updated 11 months ago

I recently reread The Millionaire Women Next Door, by Ph. D. Thomas Stanley. Subtitled ‘The Many Journeys of Successful American Business Women’, the book compiles research on these women and their spending habits, as well as their views on work and family. It’s an interesting book. Here are the priorities that these women have developed. Perseverance – These women are intelligent but do not test at genius level. They ascribe their success to never giving up. They believe in persevering through every difficulty. Forgetfulness- By this I mean that millionaire women choose to let go of mistakes and wrongs done to them or by them. They purposely live in the present and discipline themselves to stay there. Family- Family is most important to millionaire women. They spend smaller amounts on themselves and often – not necessarily wisely- overspend on their children. They buy used cars for themselves, stay in their neighborhoods even while growing financially rich, but frequently support adult children. Charitable- These women average an annual donation amount, as a class, of about 7%, with many of them giving at least 10% of their earnings to charity. Millionaire women exceed millionaire men in the percentage of income that they donate to charity. These are traits that I think many of us may identify with easily and they show us how we may set financial priorities. Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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1 Minute Business Tips – Summer Business for Kids

Updated 11 months ago

Tis the season for lemonade stands! If you have kids at home this summer – it’s a great time to encourage them to start a business. It gives them an opportunity to learn about running a business, managing money, leadership and to accomplish something they can be proud of. Lemonade stands are a popular business for kids to start and here are a few other ideas.Let your kids have their own yard sale. They can sell the toys and clothes they’ve outgrown. Allow them to organize, market and manage the sale. Then let them decide how they will spend the money they make.Give your kids a section in your garden to grow their own veggies or flowers and let them sell the produce or donate it to a local food pantry.Older kids can make money pet sitting, baby sitting, washing cars, offering lawn care services or running errands for busy parents.Creative kids might be interested in putting on puppet shows or plays or offering face painting services at events where kids gather. They can also make products or crafts to sell.These are some great ideas – but let your kids decide what business they want to start offer appropriate support and supervision and then let them go for it! They’ll learn so much from the experience and they’ll have fun too. ~Deb Neuman for WABI TV 5 News

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One Minute Business Tips: Taking Summer Vacations

Updated 11 months ago

Ahh the summer season is finally here! Funny how it seems to take forever to get here and then it goes by so fast! This is especially true for business owners who often find the summer months are their busiest.But – it’s good for you and for your business to take some time off to catch your breath, re-group, get some well deserved rest and enjoy yourself. What better time to do that than in the summer time! That being said we all know it can be hard to get away…Here are some tips to help you get away!One – Schedule time off in advance and get it on the calendar now. Because if you wait until you have the time – to take time off – you’ll never have the time – you need to schedule it.Two – Book travel reservations in advance. Once you book and pay for that hotel, flight, or tickets to an event it becomes harder to not go! Three – Prepare others to cover for you in your absence. Train your employees, friends or family members to be ready to fill in for you when you’re gone so you can get away and relax knowing your business is in good hands.And finally -when you do get away – try not to think about your business constantly – if you planned well it will be fine without you and you will come back relaxed, refreshed and ready to get back to business.I’m Deb Neuman for WABI TV 5 News

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Gender and Shopping

Updated 11 months ago

In the last few weeks we’ve talked about the different perspectives men and women have concerning investing. Today I want to talk about the differences that men and women have about spending money. You may have already observed some of these traits in a man or woman that you know, but there is science to back up the observations. This information is general, as people are who they are and don’t always ‘fit in a box.’ In a study by Wharton Business School titled, “Men Buy, Women Shop,” men rate their shopping experiences – in general – by how quickly they can get checked out and leave the store. Women want personalized service, with help from sales associates and ideas for purchases. Men, according to a comedian quoted in Psychology Today, buy a shirt and wear until it dies, then go out and kill another shirt. Women begin shopping for birthday and Christmas gifts well in advance of any need. Studies hypothesize that men are hunters, women gatherers. It’s not that men don’t spend money, because they do. They spend money faster and with fewer returns than women. Women are more likely to shop for things they don’t need and to use shopping to feel better. Men rationalize that their wants ARE needs, so it may be harder to evaluate the wants versus needs aspect. So, what have we learned in the past few weeks? Men and women are different in their communication, view of, and handling of money. Communicate with each other regularly for the best relationship results. And don’t be surprised by the other person’s perspective! Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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Business Tips: Being “Green”

Updated 11 months ago

Every where we turn these days businesses are claiming to be green as more consumers want to do businesses with companies who are more environmentally responsible. This had resulted in an over saturation of green businesses and confused consumers who aren’t really certain they know what green means anymore… there’s actually a term for this – it’s called green washing.If you own a small business and you are claiming to be a green business you have to really talk the talk and walk the walk. Here are 5 simple things you can do to really green your business – One – Cut down on your paper usage. Use recycled paper, print on both sides and recycle scrap pieces into notepads. Two – Set up recycling bins at every desk for paper and have one in your kitchen for recyclable items such as soup cans and take out containers.Three – Replace plastic cups and utensils in your kitchen with mugs and silver ware.Four – Use environmentally friendly cleaning products and if you use a cleaning service – ask that they do so.Five – Make sure your business vehicle is environmentally friendly and encourage employees to car pool, use public transportation or ride their bikes to work.With just a little effort you can really be a green business and these days that’s good for business!I’m Deb Neuman for WABI TV 5 News

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Men and Investing

Updated 11 months ago

Men and women are different – even though you probably already knew that, we’ve got a lot of science to back it up. Here is Part 2 of our series on gender differences and money. Men and Investing According to research, 74% of men think investing is FUN! The section of the male brain that “lights up” when discussing investing and risk is the same section that is active when viewing pictures of a beautiful woman. Men, compared to women, are much more willing to take risk when investing. Men describe themselves as good investors, though not necessarily with good reason as they chase tips, hold losing investments for too long a time and repeat their mistakes instead of learning from them. The most common emotions men experience while investing, by their own admission, are greed, impatience, and overconfidence. If men use financial advisors, male investors report a higher level of satisfaction and success. However these men also say that when investments go up it was their own decisions, and if investments do poorly it was because of their advisors’. Advisors report that about 2/3 of men are not adequately planning for “their spouses’ future well-being after their deaths.” What can we do? Talk to each other. Gently, but firmly, push each other to do what needs to be done and to understand finances. Next week: Men buy, women shop.Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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Women and Investing

Todd Simcox

Updated 11 months ago

In the next couple of weeks, we’re going to look at the differences between men and women when it comes to money, in terms of investing and even spending. There are a good number of studies that prove what many of us may have already noticed: gender differences are real and many. This week: Women and Investing. Women generally want to talk about investing in the global understanding of life: saving for retirement, helping kids with college, donating to charity rather than in terms of ‘how much will this investment return?’ Women generally do not know a lot about investing, but we are anxious to learn. Life-changing episodes, such as the birth of a child, marriage, death, or divorce are opportunities that make us really want to learn. But we spend more time planning vacations than taking care of our long-term finances and that’s bad because it is estimated that 80-90% of women will manage their finances alone at some point in their lives. So, stop paying so much attention to the kids and grandkids until you get something done for YOU! Talk about the finances with the family advisor or your spouse. Get details about what’s going on. You may be the one whose life and future depends upon this! Next week: Men and InvestingMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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Tips For Maximizing Time

Updated 11 months ago

Let me start with a quote from Thomas Edison: “Time is really the only capital that any human being has, and the only thing we can’t afford to lose.”But we often say – I don’t have enough time. For most of us it’s not having the time that’s the issue its learning how to manage our time better that’s the challenge…Here are 5 ways you can begin to make better use of the 24 hours we’re all given in a day…1) You have to really want to manage your time better. This requires changing behaviors and changing behaviors will only happen if you’re really committed to making a change.2) You need to re-think your priorities. Where should you be spending your time? What is truly most important to you? What really needs to get done and what is less important?3) Keep track of how you’re spending your time – for one week – keep a log of where your time is going – so you can get a clear picture of where your time wasters are.4) Then look for ways you can reduce your time wasters to free up time to focus on your priorities.5) Change your bad habits slowly. Pick one time waster to improve upon before tackling the next. For example – if you waste too much time checking email every few minutes. For one week only check it 3 times a day. I’ll end with a quote from Franklin Field: “The great dividing line between success and failure can be expressed in five words: ‘I did not have time.’ “I’m Deb Neuman for WABI TV 5News

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Your Risk Profile

Updated 11 months ago

The point of determining your risk profile is using it to determine a mix of assets that suits you. There are various helpful methods that are available. Age – A well-known rule of thumb used by some is that your age equals the percentage of your total holdings that should be in bonds. So if you are 40 then you have 40% in bonds and 60% of your portfolio in stocks. Questionnaires – These ask questions such as: when do you need the money? How would feel if the investments fluctuated by 20%? Would you be able to sleep at night? Are you willing to accept risk for the potential of higher returns? Or do you prefer steady growth? Then these questionnaires help narrow down a mix of stocks and bonds for you. I think questionnaires are superior and there are many available, especially online. Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.

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