Business & Finance

Love Your Finances

Updated 1 year ago

Who do you love, my friend? Valentine’s Day is this week and sometimes we are looking to someone else to love us. Since this is a finance segment I want you to treat yourself with respect and make your finances one of your missions. Our challenges-1.) We are very cognizant of the day-to-day details of our finances and can’t always ‘get the vision’ for future planning. We scrimp and save and don’t always see that relatively small amounts of money can make a difference over the years with compounding interest.2.) We tend to think of others first and give our money to the kids, both when they are little and even when they are big. In doing so we are most definitely short-changing our selves and teaching our daughters and granddaughters some out-of-balance lessons on self care.3.) We live longer than men but overwhelmingly save less for our retirement. Overwhelmingly.4.) We are in and out of the workplace for family needs.What are you going to DO?You have to KNOW that you are important enough to get care and you may only have yourself to provide it.You’ve GOT TO save for the future. You’ve got to stop giving everything to the kids and set an example of wisdom and worth to your daughters and granddaughters. If THEY were giving everything away and not taking care of their futures, you would be on them like I don’t know what!GET help and work with someone who has the ‘heart of a teacher,’ so you can grow in knowledge and be part of your future planning.A man’s not a financial plan, chickie poo. Step up and be your own hero.Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. (CR8992)

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5 Steps for Financial Control

Updated 1 year ago

Time to get cozy with your money and have a great, but simple plan for its overall control.Save automatically- ‘Save more’ is a typical New Year’s resolution. And it’s a great one. But it has to made specific with some kind of plan. Right now, after you’re done watching me, and if you don’t already have one, set up an account for saving money and define your weekly, bi-monthly or monthly contributions. You’ll save $100 by actually doing things to make it happen. So, do it, right?Track it – all – Impulse buying is the scourge of many well-intentioned folks. It’s hard to take control of your money if you don’t realize how much you are spending on ice-fishing equipment, or how much the care and feeding of your other hobbies add up to. If you track ALL spending, you will see what the real numbers are for the horses, or the boat or the kids sports activities or, whatever you are doing.Use a system – Numbers are great but I prefer graphs and charts so I can SEE the relationship to various types of expenses or savings compared to the whole. A pie chart for me is terrific as I can see what’s budgeted for various categories and see if things are weighted too heavily with a glance. If your financial institution offers something, plug into that. But there are many free online options, such as Mint.com and others to help you see what’s going on with your money.Retirement – SAVE – Saving more’ also means saving for retirement. And if you sign up to either begin a savings program, or to increase your current savings, you will be in better shape for 2013 than 2012. Go, team!Savings made cozy – One really great suggestion I read was to remember how well sometimes seemingly silly things motivate us. The writer of one article said that if you have a savings goal use crayons to fill in a bar graph that helps you see the progress and make a chart for the fridge so you can be impressed and happy with your progress. Whatever works for you, smelly stickers, a latte, lunch out for your great job, that helps you be rewarded besides the reward we get from the intrinsic value of the progress. It’s okay to be cozy and to have fun.So, be cozy and take control. Citation:Do you have a question for Marion? Contact her on Twitter at: @MarionSyversenMarion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR 8758

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Creating a Realistic Plan for Retirement

Updated 1 year ago

I like a plan. But my favorite plan is a realistic plan. And that’s what I’d like to talk about today.Realist Retirement Date?- If you have generally picked- or even if you have been very specific about when you will retire, is your planning realistic? Sometimes, life surprises you and your choices are more narrow. But if you, like most, have a choice about when you will stop working, is it really going to work? Will there be money? What will your budget be? How will your income work with your bills? If you haven’t gotten this far in your planning, a budget for retirement is a good place to start.What kind of lifestyle can I anticipate after I retire? -Your retirement lifestyle will depend on your budget, your health, and your dreams. You may not be able to be lavish in your spending but you may still explore the areas of the world that interest you. You can have a wonderful retirement with a tiny budget because you live a fulfilled life of giving, volunteering filled with friends, old and new. You can travel if you use your creativity to help you. Do you have special knowledge that might make you a great teacher of languages, history, or other specialties usable for someone traveling and needing a guide or a teacher? Can you house sit, pet-sit, use your imagination to think of ways to explore interesting places with a limited budget? What will I be able to provide for my heirs? – If leaving a financial legacy is critical to you, what steps are you taking to protect the assets you hope to leave? You may be hoping that heirs behave a particular way with their inheritance. Though every detail cannot be controlled, there are steps that may be taken to provide guideline for the asset’s use.Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR 8757

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Women and Investments

Updated 1 year ago

Women like a different kind of approach than men when discussing investments.Now versus later – Because generally women are responsible for the day-to-day running of family finances, it is sometimes easy to get absorbed in today and not as easily have the vision for 30 years down the road. Having an understanding of how small amounts saved now can create wealth in the future is one of the keys to getting some women excited about saving and investments for retirement especially. Talked to not ‘at’ – It isn’t done on purpose, but a typical complaint that I hear from women – and frankly some men- who come into my office is that they felt that they were being lectured in meetings with financial professionals. That they were being sold, spoken AT not spoken to. Things were not explained as well as they would have liked. Decisions felt as if they were already pre-made for them.Participatory process – Conversation and exploration of issues not necessarily consider is at the heart of the financial planning process. Besides what your goals and dreams are, what about managing risk? What do you think would be best for your family in the event this or that occurs? Some folks in my office get right into the details of a particular product or investment strategy when what needs to be determined regularly is the wisest direction for the family’s financial needs. And wisdom requires all minds working to optimize the best analysis, most suitable products and regular conversation to keep the plan on course.That means we need all grown-ups in the family to contribute their best sense of what your family needs for their best future.Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR 8756

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Finance is Fun: The Centsables

Updated 1 year ago

Learning about money in a fun way makes learning easy for everyone. A new production is available for parents and teachers to use for kids ages 6-12.http://centsables.com/ The Centsables is a web site and cartoon series that is licensed to banks and other financial institutions in a complete form, but available to everyone in a limited form.Under the Lessons tab there are images of books that are narrated by different characters of The Centsables: The 411 on Money, How Kids Earn Money, Growing Your Money and Taking Stock of the Market. The books may have limited availability.Glossary tab explains assets and APR and tax credits and wills and many other words such as tips and welfare.Under the Comics tab they have three issues presently available. Activities- There are seven games available. The checker game you can play with another person or you can play against a villain. The game has nothing to do with money but strengthens your connection to the web site and the characters. I was losing to the villains immediately.Under the Activities tab they have online coloring pages of The Centsables, and four word searches games involving banking terms famous Americans and currency, with available answer keysUnder the Theatre tab, the web site will direct you to the YouTube channel with 15 second PSAs and the 19 minute cartoon explaining for only a few seconds of the show the FDIC insurance that protects banks in a robbery.This is not going to provide in-depth info for kids on money. But it compliments other activity and at least promotes discussion with a parent or teacher and kids.Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR 8744

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Financial Resolutions for the New Year

Updated 1 year ago

What are you determined will be different for 2013? How do you hope to tweak or totally transform in your financial life? Here are some suggestions.Set goals- Where are you going? Do you want to retire early? Help the kids with college? Clarify you gaols, the ones that are afar off in years and those that you may want to focus on in the new year.Make a plan- A plan is a map of how much to save, which debt to pay down first, where will the savings go? What about 401(k0s at old jobs? What about making sure you meet with your advisor about additional retirement savings? Check insurance like you do the battery in your smoke detector.Check your credit- you can get a free credit report from each agency at once at www.annualcreditreport.com Or contact Equifax, Experian and TransUnion individually. (each agency is www. Their name . com.Where’s your money going? – Have you been tracking spending? How much do you spend as a percentage of your income on your favorite hobbies, my friend? It can go where ever you want it to go, so long as you are in charge. Take control.Pay down debt – this is the most common practical goal of many. Debt costs money, even ‘cheap ‘ debt. So paying things off is good goal. But making the actual doing of this goal practical is what has to happen to make the goal a done deal. You only need to pay what you have contracted to pay. Don’t let emotions dictate a repayment schedule that precludes other needs. Save more- such as saving more. When you are done working, all you have saved is all you’ll have. And usally folks wish they had saved more and started earlier. So, if this is you, how are you actually going to achieve this goal? Make a concrete pla and you have a better chance of succeeding.Get a free credit report from three agencies at annualcreditreport.com Citation:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. (CR8725)

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How to Practice Charity

Updated 1 year ago

We have talked before that how you spend your money leaves a trial of what is most important to you in life. Do you spend your money on sports, or the grandkids? Does your money plow back into your business or to pay off debt? At this time of year, it’s easy to think of others.Why practice charity? – Because others are in need. Because you’ve suffered in your life and understand their difficulty. Because you have money – or time, or other resources- that you can share and there are folks – who work hard, who have fallen on tough times in a difficult economy- who need what you can give. In some cases folks need life’s essentials.How to choose – If you are considering making a charity or two part of your regular giving there are details you will want to investigate. Such as how much is used in administrative costs for the charity? Do they have 501©3 status so that your contribution is a benefit to you financially, should that be a motivation? Is this charity fulfilling part of your personal vision, such as caring for kids or animals? Providing shelter for families are caring for veterans?You can also give informally. You can give wood to a single mom. You can give help to the elderly. You can pay for oil for a neighbor. You can donate time at a food pantry.How much? – How much time or money to give? My personal view is that we are on this earth to serve and not to be served, so we give generously of our time, talents and money. How many lives do you want to touch? What depth of difference do you want to make in the world? I didn’t even mention what’s in it for you when you live a charitable life. Giving changes you. Makes your heart even bigger, like the Grinch. It makes you more sensitive to the needs of others. Giving makes Christmas morning more than a 5-minute event. It warms your heart forever. Kind of makes you want to give more.Citation:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. (CR8724)

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Have a Financial Question? Who Should you Call?

Updated 1 year ago

Who do you call when you have a question? You call an expert. Which expert for what problem? Let’s chat about that now.Accountant – What questions are typically the realm of an accountant? How much is the right amount for you to invest this year to minimize your taxes? Is it in your best interests to set up an LLC or S-corp for your business? Will gifting money or assets to family members be a good solution for your estate concerns? These are all questions for an accountant. To get the very clearest answers you need to speak with someone well versed in your particular situation and in the tax code.Attorney- What questions are the purview of an attorney? Should I set up a family limited partnership for the family camp to ensure it stays in our family and to make sure all the kids get to use it? Do I need a will or a living trust for my estate? Which would be best for my particular situation? These and other situations, such as establishing an advanced direction or power of attorney are generally handles by an attorney.Financial advisor- What should you expect from a financial advisor? FAs can create a detailed financial plan for you. What investments do you currently have and what’s your goal for your future? What are hoping to achieve: early retirement? And estate to pass on? Financial freedom? Your present and future financial goals, how to specifically achieve them based on your risk and other considerations, are part of the job of a financial advisor. Finally, are you enthusiastic about your professional helpers? You can be. You can know you are getting great advice and help. You can have someone who is really looking out for you and your family. You can have a professional who you feel blessed to have found. You can have an expert in communicates clearly and helps you achieve your goals. You CAN have all this with your professional experts. If you don’t have them, start asking around!Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. (CR8723)

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Getting the Most For Your Money

Updated 1 year ago

Retailers are in business to make money. They use smart techniques to help us spend more. Here are some tips for you.Displays- They are tempting you by setting up the item in a place where you will be the most likely to want to own the item. Not only that, since peer pressure impacts our spending decisions perhaps when others buy things you also will say, ‘yes, please!’Sales – Spending more to save is not really saving, right? Because you are spending more. So, if you spend more than you would have because you are getting a 10% discount if you spend $50, then pay sales tax, or shipping, you’re spending more than just buying one or two things at $20. You are jumping to a particular range for a very insignificant deal. Think it through.Flow- According to articles, most shoppers turn right in a store. So that’s where the beautiful, tempting displays are set up, with the necessary items way in back on the left.Little things – And speaking of clearance items way in the back of the store, sometimes the clearance area is always purposely left darker or messier than the rest of the wide-aisled, well-light store. It is allowed to be less inviting so you feel less enthusiastic about staying in the cheap spot. Other little things are the adorable chotchkies on end-caps and near the check-out register that lures you to spend just a little more on this perfect item!Good company – If you shop with a buddy who helps you be wise, who tells you how you REALLY look in that shirt or coat, that is a good friend. Imagine shopping with a friend who is more encouraging of spending saying, ‘But it’s on sale. Buy it!’ You can see that a wise choice is best in a shopping companion. You are not exactly going to war when you shop. But you do have to be very alert. It’s YOUR hard-earned money so you should guard it like a pickpocket is lurking!Citation-Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8661

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Online Programs to Teach Kids About Money

Updated 1 year ago

Smart Money had a recent article about online programs to teach kids about money. Large banks are focusing less on kids accounts and in recent years there has been a dearth of new online games and programs. I have looked at but have not reviewed these sites.The article reviewed and has links to six sites: Three Jars, Zefty, MoneyTrail, PlayMoolah, KidsCash and KashPile Generally, these sites hare several common elements: They aren’t repositories- these site are like Mint.com, e-Wallet and other sites that allow you to put your info in and then see in pie charts and graphs. They are in most cases and according to one reviewer, online ‘allowance trackers.’They teach – PlayMoolah uses games to teach kids about earning, saving, spending and generally managing money. Games for earning, saving toward goals and practicing charity . Graphics entertained me. They track – these programs allow to set up chore schedules, financial goals like savings and giving . Making info about money and tracking systems online, like mom or dad manage their money, makes this timely and perhaps a great tool for your family. Even for parents intimidated by money, these kid-friendly tracking systems may be a great learning tool for you.They may sell- These sites are free and use commercials, ads, to offer their services. In the case of the online program KashPile, kids- with your permission- can buy things. KashPile, in fact refers to itself as a ‘shopping system’ to allow kids’ savings to be used on Amazon. You will want to review these sites carefully. But they do have pomise of fun money management tools for kids.Citation:Smart Money- Review of Zefty- Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated. CR8653

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Fire Destroys Home in Danforth

Updated 1 year ago

Fire destroyed a home in Danforth Friday night.Crews were called to Houlton Road around 10:45 p.m.We’re told no one was living in the house at the time. Someone was in the process of buying it.Fire fighters were on scene throughout the night. They finally cleared the scene at 5:30 Saturday morning.No word yet on a cause. Photo Courtesy: Andrew Emery

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4 Ways to Save Money

Updated 1 year ago

Buy only what you need- Look, you work hard and can still have fun, but think about why you are really spending money on this thing. If you’ve ever experienced a difficult financial time, you know what I need. The money we waste on things. And that’s fine, if you have it and you’re saving and you are charitable. But just a little disciple can save a lot of money.Wait- immediacy usually costs a lot more money, no matter the purchase. Whether it’s fast food or the immediate gratification of a new appliance, think first. Then buy. The habit of making your coffee or meal yourself, will save dollars a day that quickly add up. And shopping around for big-ticket items can save even more money.. Rethink fun- You can still HAVE fun, but going out all the time is too costly to keep doing it, especially if that is your several-times-a-week habit. Cut back on that and invite folks in for fun, look for fun and free events in your town and see the fun in being frugal.Regularly Checking the Details- Check out the fees, utility and other ongoing bills and examine changes in lifestyle, technology, your family’s habits that may allow you to discontinue some expenses. Never home? Why pay for cable? Citations: Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8654

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Frugal Holiday Meal

Updated 1 year ago

Celebrating any event or holiday is about sharing time and affection with friends and family. It is NOT about stress. So let’s note some ideas on having a frugal holiday meal.Prioritze- The celebrations are not about food, though a family’s favorites are a source of pleasure. The holidays are about relationships. It’s also not going to go into debt. Accept offers of help. ‘It’s better to give than to receive’ so receiving can sometimes be hard. Nevertheless, when YOU give, you like to do it and get grouchy when you are thwarted. So let others participate. Think about what you generally like to have as to food and beverages and be ready to modify your expectations based on circumstances.Plan- As I just mentioned, accept offers of help. Have guests bring any and all food and drink. Having prioritized the types of food and drink you are hoping to serve, as people ask to help offer them options of things to bring. You have to be okay with the way they cook their potatoes or the carrots. But you have already remembered this is about relationships and lnot controlling everything…Another way to plan ahead is to prepare parts of the meal as you can in advance. Cut bread into cubes to stuffing now, weeks ahead, and freeze till you’re ready.Make plenty of ‘inexpensive, filling side dishes,’ and another suggestion was to use your Halloween pumpkin for your thanksgiving pie. from scratch as it’s generally cheaper than mixes as one writer suggested. Shop- With the meat as the most expensive part of the meal, talk to friends and family and check out the deals in local shops and large retailers. Buy only what you will need. You don’t need to have days of leftover food. Side dish meals such as potatoes and carrots are less costly and will fill up hungry bellies.Beauty – Making the dinner and your house beautiful is part of what creates the uniqueness of the day. But think creatively to satisfy the needs. Need more dishes or chairs? Borrow what you don’t have, from friends, or your church. Decorate with freshly cut branches, pinecones, pumpkins and gourds from the garden. We live in the most beautiful state. So bring in that free beauty to delight your guests.Being together is the best part of the day. Citations:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8651

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Being the Breadwinner

Updated 1 year ago

Many recent surveys are showing the growing trend of women as major breadwinners and in some cases, sole breadwinners, for families. When there is a single breadwinner what’s that mean in families?Living well – It is not a new occurrence to have a single breadwinner as for years, men were frequently working while women stayed home and ran households, managed kids and schedules. What is a growing trend is the move for women to be sole breadwinners. Latest figures show that in 1967 11+% of women were sole breadwinners by 2010 the number of women working as the family breadwinner was up to over 41%. Couples who manage this single breadwinner lifestyle well are those who communicate with each other and who remember their choices or the facts of life as they are and not be annoyed about what they wish life would be. Live in the present and accept how circumstances are in the now. When there is resentment – Resentment happens because of feelings of inadequacy, envy, and self-esteem. But the feelings can also result because the breadwinner feels alone and that their partner is doing less and less and enjoying that more and more. I know of couples who live very separate lives. Women who work full-time and whose husbands don’t help much with the children, chores or work. The only way to fix this kind of situation is to talk or the relationship is in serious jeopardy.Making it better- The problems come if one partner feels that the contributions of the non-breadwinner are inconsequential. Each spouse needs to value the work done by the other, communicate about worries or fears and find ways to appreciate the other. I have a friend who has come up with a creative way to have each person share in the duties neither wants to do. For every 5 minutes of TV time or computer time, they each give 5 minutes in chore time.Whatever approach you can think of to feel better about each person’s value and work, do this. Communicate kindly and remember you love each other.Citations:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8569

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Pinching Pennies: The Warren Buffet Way

Updated 1 year ago

Great article in Forbes about the frugal habits of Warren Buffet whom many admire as a great investor. Here’s another side of ‘The Oracle of Omaha.’Kids- Mr. Buffet used a dresser drawer for his baby’s first bed. You don’t need to buy new everything at full price because your baby ‘deserves it. Buffet borrowed a crib for his second child to use. We don’t all think like that, especially when we are young. We sometimes have attitudes that don':t match our financial reality.Food- Early in his career, Buffet, who was signing up clients with large agragate assets, called a friend to have a six-pack of soda brought over so Warren didn’t have to use room service and pay the inflated rates for food. You can save by bringing lunch to work, shopping for foods on sale, maybe even becoming more expert at couponing. Transportation- Warren Buffet drove a Volkswagen for years until his wife urged him to upgrade vehicles for his image. You can have nice cars and travel well, but if you ant to be frugal, find a cheap way to have that car or to travel. According to one Buffet quote he ‘works his way up to cheap.’ Warren buffet is a billionaire and according to the most recent Forbes Richest list buffet is #3 in the world.Citation- Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated. CR8565

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Couples and Spending

Updated 1 year ago

Biggest arguments between couples are sex and money. Let’s talk about differences between couples over money. Who’s the Spender- If one partner believes the bank account is their personal account making big ticket expenditures without consulting you? Vision- Do you share enough personal conversation with each other to have a vision of your lives together? Are you on the same path concerning the values of your lives? Having a chat about the bigger life issues helps you each remember how much you love each other and puts the present problem in the larger scenario of life together. Lay aside resentment and anger to discuss the reasons you love.Budget- Then get into some of the details of life. Sometimes overspending is happening because there is no family budget. So, one partner who may like shopping, shops. As a saver, the other partner is peeved. With a budget, it’s a bit easier to know how much each person has for the week – or the month- to use for fun and necessity.Further steps – If you don’t reach a balanced perspective with each other, please get to counselor. The issue could perhaps be a simple one to resolve if we can get past hurt feelings. Then again, it might be that one partner is attempting to salve emotions with having their way. Getting help from a great counselor may be just the ticket for you.You also might try separate accounts. You both may never agree on particular spending items and it might be better to simply keep to a budget but have your own account. Money arguments are very common in couples. It is one of the top two couple have regularly. If this is happening at your house, you are not alone!Citation: Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8567

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Finance is Fun: October 9, 2012

Updated 1 year ago

If you’re expected only source of retirement income is Social Security how can you maximize your money?  Wait- or suspend payments- if you haven’t started taking SS generally your income is maximixed the longer you wait. So if you can postpone taking payments until 70 you will receive the largest monthly amount. If you have already begun, you may be able to suspend paymenst until later years and possibly increase your monthly check amount by 32%. It’s worth considering.Pay off debt- make debt repayment as much a priority as possible in the years leading up to retirement or taking your benefits. I know the economy is tough, but this is money well spent.Keep working- if you are able to work, keep working. You may be able to raise your monthly Social Security check by working well into your sixties. Do it if you can.Be Frugal- finally, be frugal. If frugality is new to you, you will soon find many of us happily living a frugal lifestyle. Learn about couponing and how to save on groceries with others who have mastered this. Befriend others who are great crafters and second-hand experts and join in the fun of making old things new. Don’t feel like a victim. Have a great attitude and enjoy your beautiful life!Citation:http://www.foxbusiness.com/personal-finance/2012/09/24/how-to-live-off-social-security/http://www.pbs.org/newshour/businessdesk/2012/07/social-security-secrets-you-ne.htmlDisclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8564

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Finance is Fun: October 2, 2012

Updated 1 year ago

Shopping isn’t an Olympic event nor should it be anyone’s hobby. And many people like to shop. But are you a shopaholic, or a compulsive shopper?Anywhere from 2-9% of the population mostly women, are compulsive shoppers, or shopaholics.Feel high while shopping then depressed – this is a an exaggerated emotional high and low. It’s not the more normal, going downtown and lunching with friends, having fun that most people enjoy. This is more intense in the high and the low. Hide purchases – lying about shopping- are you hiding purchases from friends, and loved ones. Regularly hiding purchases? Are you lying about shopping at all? You can see how that wouldn’t be okay…Preoccupied with the next shopping opportunity – are you dreaming of what to buy next when you haven’t removed the tags or used the things bought from one month ago? Is your house full of unopened items, or unused clothing…? Honey bunch…Anxious when you don’t shop- do you feel upset, anxious, when you don’t shop? Even you are concerned- You may be already recognizing that this behavior isn’t cozy. And, it isn’t cozy. Let’s help.Curb it:Most people aren’t naturally good at handling money. We have learned to use some aides, some behaviors, to help us not loose control of our money.Cut up cards – or have very few. Keep them at home, on ice, or cut them up entirely.Use cash- have a set allowance and eventually develop the self control to stay within that budget.Track spending- know where your money goes.Consider- some are easily good at money, for most of us it’s work. So here are some of the ideas we use to keep our purchases  reasonable:                Hold off for big purchases – some people have a 30-day rule                Want or need – ask yourself do you NEED this or want it?                Save- maybe you will find that you really like saving!Avoid the trap – stay out of the stores. Don’t use shopping as a hobby.Talk to someone- there is no shame is seeking HELP! Be pragmatic. Get this talked over and feel better. Get control of your life and your money.Citations:http://www.fromshoppingtosaving.com/2012/05/how-to-tell-if-you-are-shopaholic.htmlhttp://www.livescience.com/2875-test-shows-shopaholic.htmlhttp://www.essortment.com/shopaholic-quiz-compulsive-shopping-45471.htmlhttp://www.moneytalksnews.com/2012/09/14/7-signs-youre-a-shopaholic/ Curb it:http://www.getrichslowly.org/blog/2007/11/12/are-you-a-shopaholic-six-steps-to-curb-compulsive-spending/Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8566

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Consumer Confidence

Updated 1 year ago

The consumer confidence index ‘fell’ in August to the lowest point since October of 2011. Why should I care? What does it mean?What is the Consumer Confidence Index? – This is an economic measure of consumer optimism. It is a unique survey compared to several others(such as the University of Michigan consumer sentiment survey). Two parts of the survey: 40% of the measure is the present concerns of consumers. How do you feel about costs (inflation), about your job and the stability of your income. The other 60% is a measure of your expectations. Why is the Consumer Confidence Index measured monthly?- Your vision of the future and if you plan on buying a car or other higher ticket items matters. If you are worried about your job, you see others losing their jobs, you won’t spend money. Then people who make the doo-dads you didn’t buy will be laid off, then you will feel more nervous.When consumers are confident about work and the future they shop, they buy things. The doo-dad makers needs more workers and adds a third shift. Those new hires buy things and the ebullience creates more confidence. Consumer spending is about 70% of all ‘economic activity’. Our buying bread, cars, pens and computers keeps money moving and the economy strong. If consumer confidence drops, or rises, the consequence matters a great deal to you personally and to manufacturers, and other businesses.August’s number – was down to 60.6 It is the lowest number in nine-months. September’s index will be released today (september 25th )Citation:Index:As a percentage of GDP -The University of MI sentimnent survey: Nine-month low:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8493

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Questions to ask about Retirement

Updated 1 year ago

Apparently we are living and loving and not talking about some things, like retirement. One survey found that 41% of partners DISAGREED about if one of you would work in retirement and almost that same number disagreed about at what age you plan on retiring. Maybe we should chat. Here’s some things to talk over with the person you love.Do we really WANT to retire? When are we going to do that?What’s the vision? – volunteering? Traveling? Making community work your new ‘job’? Long-time relationships develop a lot of pressure with unspoken dreams.Where are we going to retire?- are you selling the house? Are you moving to camp? Is the snowbird’s life the life for you?What’s the plan with the nest egg? – Are you going to have an advisor? Manage it yourself? What if markets crash? How much are you planning on living on? – Do you have a budget? How much will you spend on your hobbies and interests in retirement? How does your partner feel about that?Do you have estate documents under control? – Who’s in charge of them? Are they up-to-date? Where are the accounts, the financial statements, the deeds, etc?What about family relationships? – what are you thinking you want from family relationships as you age? What have you learned helping your aging relatives about what might work well for you?Getting old- What is your attitude toward aging? Will you obsessed with regrets or despise your infirmities? What do you hope will be your legacy?- do you want to help with grandchildren’s education? What is the most important thing you would like to do before you die? Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. 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. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated. CR8492

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